Commercial banking and business account
Canada’s largest trust company with assets exceeding $85 billion (as of March 31, 1988), Royal Trust co Limited offers a full range of personal and corporate financial! services through its 6,000 employees at 122 domestic and 17 overseas branches.
Part of the Trilon Financial Corporation financial empire and headquartered in Toronto, the company is one of only a do/en institutions globally with a triple A credit rating.
Royal Trust’s mission is to make its shareholders, customers and employees wealthier by being the premier provider of financial services in the market it serves. Since its inception in 1899, the company has based its success on anticipating and meeting the financial needs of its clients and providing them with advice. Today, Royal Trust serves over one million clients.
The consumer data was accumulated through extensive telephone and mail surveys conducted nationwide under the trust company’s sponsorship in the fall of 1986. The $25,000 research project revealed that Canadians feel snowed under by information on the over 350 mutual funds available in Canada alone, and they want help. They need advice on how to select the right fund for their individual needs but are at a loss as to whom they should turn.
Royal Trust’s Advantage Funds solve this problem. A client need only be familiar with three different funds — The Advantage Income Fund, The Advantage Growth Fund and The Advantage Balanced Fund. The choice among these three depends on individual financial requirements. For example, those people wanting to achieve maximum return on their savings would opt for the Advantage Growth Fund.
TIPS FROM THE PROS
e believe our clients are not going to be motivated by commodities or impulse purchases. They are not looking just for a product but for someone who can give them fairly intelligent advice on how to deal with that product.”
The Advantage I und introduction was limed to coincide with the KRSIJ season, a frenzied two-month period at the beginning of every year when Canadians (lock to their financial institutions to purchase a fax advantaged retirement vehicle called a Registered Retirement Savings Plan (RRSP). However, the company’s campaign advertising was starkly simple — one poster displayed in all branches, encouraging customers to ask about the advantages of the new product.
After only 60 days of the campaign, the tally of S230 million from the sales of Advantage Funds had far outstripped the firm’s objective of $200 million for the full year!