![](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/61016dcba24f21fd11e56935_How%20Canadian%20Banks%20Promoted%20Their%20Wealth%20Management%20Services%20in%20Q1-Q2%202021.png)
How Canadian Banks Promoted Their Wealth Management Services in Q1-Q2 2021
Key Takeaways
![](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/60c7bc0338e68af93665a498_Key%20Takeaways%20%E2%80%93%C2%A0Divider%20%E2%80%93%C2%A0Gradient.png)
TD and RBC are the only two banks amongst the Canadian Big 5 that ran digital ads to their wealth management services domains in the first two quarters of 2021. TD allocated $167K to promote its private wealth management, while RBC invested only $3K.
Budget Allocation — Both TD And RBC Invest Majority of Their Budgets Into Facebook Ads: RBC allocated almost all of its available budget to run Facebook ads. TD invested 89% of its allocated budget into this platform, distributing the rest between desktop (9%) and mobile (2%) display ads. TD chose to place its ads primarily on The Globe and Mail — 67% of the desktop display and 26% of the mobile display budget was allocated to run the ads on this news platform.
Messaging — TD Ads Continued to Call Prospects to Connect Virtually (“from the comfort of your home”): Virtual consultations were a big focus for many Canadian banks in 2020 when COVID-19 locked many in their apartments. TD continued to advertise this service in Q1 and Q2 of 2021 in their Facebook and display ads.
Messaging — RBC Ads Had More of an Emotional Appeal And Promised to “Help You [Clients] Grow More Than Wealth”: RBC aimed to appeal to prospects’ emotions by running Facebook ads that promised clients to become more confident after having their financial future planned.
![](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/6095caa2cfa57d5d39bf75a6_Slide%20Divider.png)
All Canadian Big 5 banks maintain elaborate sections about private wealth management services on their websites.
![Top 5 Canadian Banks](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/60f9bbcc5e1502d522a764bc_Top%205%20Canadian%20Banks.png)
![](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/6095caa2cfa57d5d39bf75a6_Slide%20Divider.png)
Amongst the Big 5, RBC receives the highest volume of monthly traffic to its wealth management domain — 427,635 visits in May 2021, which is +308% more compared to May 2020.
![Canadian Banks - Monthly Traffic](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/60f9bc1496c6ec3a0bcf0240_Canadian%20Banks%20-%20Monthly%20Traffic.png)
![](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/6095caa2cfa57d5d39bf75a6_Slide%20Divider.png)
Only TD and RBC ran ads* to their wealth management domains. TD invested $167,030 to drive traffic via paid advertising to its wealth management domain between Jan. – Jun. 2021.
![TD Bank - RBC - Wealth Management Domains](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/60f9bc9f5197bbfb4934a3b5_TD%20Bank%20-%20RBC%20-%20Wealth%20Management%20Domains.png)
![](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/6095caa2cfa57d5d39bf75a6_Slide%20Divider.png)
89% of TD’s advertising dollars allocated to promote its wealth management services were invested into Facebook ads.
![TD - Facebook Ads - Wealth Management](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/60f9bceb83bdcda85c6259b9_TD%20-%20Facebook%20Ads%20-%20Wealth%20Management.png)
![](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/6095caa2cfa57d5d39bf75a6_Slide%20Divider.png)
Top Facebook ads called prospective clients to connect with a TD Wealth Financial Planner to get personalized financial advice online.
![TD - Top Facebook Ads](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/60f9bd2334a9005ca1a355bc_TD%20-%20Top%20Facebook%20Ads.png)
![](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/6095caa2cfa57d5d39bf75a6_Slide%20Divider.png)
TD spent 67% of its desktop display budget to place ads on The Globe and Mail. The top 5 placement websites accounted for 91% of the overall desktop display budget.
![TD Bank - Desktop Display Ads](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/60f9bd6bda475020f41aae40_TD%20Bank%20-%20Desktop%20Display%20Ads.png)
![](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/6095caa2cfa57d5d39bf75a6_Slide%20Divider.png)
The Globe and Mail remained a preferred placement website for mobile display ads — 26% of the total channel budget was invested into this news portal.
![TD Bank - Mobile Display Ads](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/60f9bda1577a8169f55e53b8_TD%20Bank%20-%20Mobile%20Display%20Ads.png)
![](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/6095caa2cfa57d5d39bf75a6_Slide%20Divider.png)
RBC invested a modest amount of $3,184 to run ads to its wealth management domain (rbcwealthmanagement.com) in Q1 and Q2 of 2021.
![RBC - Digital Ads Spend](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/60f9bde1c0d0ec0f5ad79d89_RBC%20-%20Digital%20Ads%20Spend.png)
![](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/6095caa2cfa57d5d39bf75a6_Slide%20Divider.png)
RBC ads aimed to appeal to emotions and promised to “help you [clients] grow more than wealth.”
![RBC - Facebook Ads - Wealth Management](https://cdn.prod.website-files.com/5e459e61116466aa9af84140/60f9be281125613fa853ad48_RBC%20-%20Facebook%20Ads%20-%20Wealth%20Management.png)
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