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Broker-Dealer ServicesAs a broker-dealer, we work with you to facilitate the execution of securities transactions on your behalf. Your relationship manager will get to know you and your financial needs and aspirations. Their role is to help you achieve those goals by advising you on how to invest your money. There is still a need for good independent advice and brokerage for clients who wish to retain ultimate control over their own investments. Working hand in hand with a dedicated broker who knows the market can add considerable value. With access to a wide range of local and international investments, WISE has the capability to provide valuable diversification and portfolio enhancement tools to our clients.
In addition to taking your orders, executing your trades and providing custody services, we also provide recommendations to our brokerage clients about whether to buy, sell or hold securities. Our experienced brokers are committed to providing the kind of information, analysis and advice that will assist our clients in making informed and comfortable decisions. Our brokerage has always allocated high priority to efficient and fair customer order execution and confirmation. With more experience in the local stock market than any other broker, we offer efficient transaction execution, supported by swift and professional administration and settlement.
Investing internationally can help reduce fluctuations in a portfolio’s value because of the differences in economic and market cycles between countries around the globe. Foreign investments also allow access to high-potential sectors not well represented in the local stock market, such as technology and industrials. Local investors are able to buy and sell listed foreign stocks in the same way they trade on the TTSE. Our international equities team can buy and sell overseas listed equities on most major exchanges, on your behalf, on an execution only basis. Your international trading account also offers an automatic money market sweep feature and online access through a secured Internet service. Through our correspondent relationship with Pershing LLC, the world's leader in brokerage services and a Bank of New York company, we offer superior safekeeping and execution services. Our clients enjoy the best of both worlds: our personalized service and high level of attention to the needs of our customers together with the safety, back-office efficiency and excellent execution capabilities provided by Pershing. SETTING UP THE SERVICE
TRADING
USING YOUR ACCOUNT
Why should I open a WISE International Brokerage Account?If you want to sell you RBC shares, you must first deposit your paper stock certificates in an international brokerage account. The WISE International Brokerage Account offers superior foreign execution capabilities at a competitive cost and easy access to your money. We provide an extremely secure service through comprehensive security methods that safeguard confidential data and account information at all times to give you peace of mind. By depositing your RBC share certificates for safekeeping, you also eliminate the chance of loss or theft.
Who can open an account?Anyone who is NOT a U.S. citizen or resident can set up an individual account. There are no charges for setting up an account and no minimum balance required.
How do I set up an account?Call us on 628-WISE (9473) between 8am and 4pm, Monday-Friday, and one of our advisors would be happy to guide you through the account opening process. Alternatively, simply print off and fill in the Investor Application Form, the New Account Form and the Agency Agreement Form. Each account holder must also complete a W-8BEN Foreign Tax Form and provide two forms of Government ID and one proof of address i.e. a utility bill.
Can I view my account online?Yes. Simply print off and complete both sides of the NetExchange Client Form, then return the application to any of our branches for processing. You will receive your user ID, password and login instructions via email. You can access your account online at any time, 24 hours a day, 7 days a week, all year round.
How do I deposit or sell my RBC shares?Simply sign anywhere on the back of the original share certificate and send it, together with your account opening documents (see above), to any of our branches. For extra peace of mind you may wish to deliver your certificates and forms by hand or registered post. Once all the documentation is in order, the shares will be deposited into your account within 5-7 business days of receipt. Once your certificate has been deposited, you can simply make a phone call, send an email or fax to your WISE Investment Advisor and he/she will quickly sell your stock.
Can I deposit RBC shares registered in my name into a joint account?Yes. But since this is considered a third party transaction, the shareholder must sign a letter of instruction clearly stating their name, the name of the security, the stock certificate numbers, the quantity of shares and the account number into which he/she would like the shares to be deposited. Call us on 628-WISE (9473) if you would like to receive a standard letter of instruction for depositing shares into a joint account.
Can I sell my RBC shares on the Toronto Stock Exchange (TSX)?Yes. RBC common shares can be sold on the Toronto Stock Exchange (TSX), New York Stock Exchange (NYSE) and Swiss Stock Exchange (SWX). Different transaction costs will apply.
How do I sell shares?If you hold the shares with us you can place your sell order by phone, fax or email. WISE does not offer online trading access at this time.
How do I buy shares?To buy shares you need to have already opened a WISE International Brokerage Account. As long as you have sufficient funds in your account, and you know what you want to buy, you can trade immediately.
How long does it take to buy or sell shares?If the markets are open and you chose to buy or sell at the market price, your order will be executed within seconds.
What are the charges for trading?For U.S. stocks, there is a flat US$22 charge per trade plus a commission fee of 1.5% on transaction amounts up to US$8,000, 1.25% on amounts between US$8,001 and US$16,000 and 1% on amounts over US$16,000. Clients will also be charged a US$4.35 confirmation fee per transaction. For all other transaction charges, please call one of our advisors on 628-WISE (9473).
What is a limit order?A 'limit' order sets either a maximum or minimum price for an order at which you are prepared to buy or sell shares. These can either be just for that trading day or any number of days afterwards.
What is a stop-loss order?A stop-loss is where you specify a price at which, in a falling market, you give automatic sale instructions. This is the minimum price at which you are willing to hold a stock and is a safeguard to minimise loss.
How do I receive confirmation of a trade?If you have online access to your brokerage account, you can view your order/trade status on the screen in real time. Alternatively, you can call your advisor on 628-WISE (9473) for an update. In addition, a confirmation statement will be mailed to your address on the next business day following the trade date. Monthly statements will also be mailed out to you at the end of every month.
What securities can I trade in?You can use your International Brokerage Account to trade in a broad spectrum of securities including US and non-US listed equities, OTC securities, options, exchange traded funds, mutual funds and fixed income products. Please call us on 628-WISE (9473) if you would like to check that a security is available for trading.
How will my dividends be paid?Any dividends earned on your shares will be paid to your brokerage account. You can elect to have your dividends held in the account and swept into a US$ money market fund or they can be remitted periodically by check or electronic transfer.
Can I automatically reinvest cash dividends paid in the purchase of additional shares?No. As a foreign (non-U.S.) security, RBC shares are not eligible for automatic dividend reinvestment at this time.
Will I have to pay withholding tax on my RBC dividends?Yes. Residents of Trinidad & Tobago are liable to 15% withholding tax on all RBC dividends paid which is deducted at source.
Where can I find RBC’s current share price?Clients with access to NetExchange Client can find RBC’s share price (20 minute delay) by typing “RY” in the Quick Quote box.
How can I replace my lost share certificate?If your share certificate is lost, stolen, destroyed or never received, you will need to complete the necessary documentation for a replacement certificate and pay an indemnity bond premium equal to 3% of the market value of your lost shares. Please contact RBC’s transfer agent (Computershare Trust Company of Canada) as soon as possible. Computershare Trust Company of Canada
How do I put money into my account?You can credit your account by sending us a cheque, cash or draft denominated in TT or US dollars. A Source of Funds Declaration Form must be signed where cash received exceeds TT$10,000 and\or cheques received exceed TT$60,000 or foreign currency equivalent. Alternatively, you can ask your bank to transfer money directly into your brokerage account. There is a TT$65 local bank charge and a US$22 intermediary bank charge attached to each wire transfer.
How do I get money out of my account?Cleared funds from the balance in your brokerage account can be transferred overnight to your designated US$ account with a signed letter/fax of authority for a US$20 wiring fee. If you do not have a US$ account, please ask your advisor to open a Roytrin US$ Money Market Fund account on your behalf. Alternatively, you can request payment by US$ cheque will be delivered by mail directly to your address.
How do I close an account?You can close your account at any time by calling us on 628-WISE (9473). We would love to keep you as a customer so please let us know why you are leaving so we can see if we can solve any problems you have with our service.
Bonds and other fixed income investments are an essential element in a diversified portfolio, offering regular income and stability of principal. Our objective is to provide our customers with competitive pricing, high yields and a liquid marketplace where they can buy and sell a variety of fixed income securities. Our brokers can locate specific issues or search the local and foreign markets for fixed income products that meet your needs. As an active dealer in domestic government fixed income, our retail and institutional clients can participate in secure, short-term investments offering a government-backed guaranteed return.
With an Exchange Traded Fund (ETF) you get the flexibility of a stock, with the diversification of an index mutual fund. ETFs duplicate a stock or bond market index but are bought and sold like stocks on an exchange at any time during market hours. Today, there are more than 200 ETFs that trade primarily on the American Stock Exchange (AMEX). Retail and institutional investors can purchase any ETF traded on an exchange through WISE. Trading in ETFs is often highly liquid, particularly for ETFs that track major market indices. Our brokerage service provides competitive commissions, quality service, and fast, accurate order execution to all ETF investors.
By pooling money from many investors, domestic funds give small investors access to a well-diversified portfolio of stocks and/or bonds issued by reputable entities throughout the Caribbean. Domestic mutual funds provide attractive investment opportunities and are a good source of diversification because of their low correlation with the other asset classes. WISE is a registered agent for a number of domestic mutual funds including those offered by Roytrin, the Trinidad & Tobago Unit Trust Corporation, Republic Bank Limited, Grace Kennedy Capital Services Limited and Guardian Asset Management. WISE does not sponsor its own mutual fund products.
Structured products are synthetic investments tailored to meet your individual financial needs and goals, offering institutional and high-net-worth private clients several advantages over traditional investments, including principal protection, enhanced yields and access to alternative assets. By using different combinations of instruments, structured products can be manufactured to have varying risk/return profiles, allowing you to choose the level of protection and/or growth that you want. Our advisors filter through the major issuers for the most competitive pricing and present unbiased offerings guaranteed by both WISE and the primary issuer.
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