RBC Specialist Fires Low Blows & Goes Viral

RBC-MortgageBanks have extensive policies governing what their representatives can tell the public. The alleged actions of RBC mortgage rep Corinne Schindler demonstrate why.

Schindler has reportedly been circulating this flyer, which grossly mischaracterizes mortgage brokers in relation to bank specialists. It’s a document that demonstrates a stunning lack of knowledge, professionalism and discretion.

The piece, which displays RBC’s logo and web address, has gone viral and caused a PR embarrassment at the nation’s biggest bank. Incensed brokers from across the country have demanded (2nd link) that RBC retract the misstatements on the specialist’s behalf.

Here is a sample of the distortions attributed to Ms. Schindler (our perspectives follow each line):

1. Brokers charge “set-up fees” and “other hidden costs”

· Truth: Broker fees are exceedingly rare on prime residential mortgages. When fees or borrowing costs are warranted, provincial regulations require full disclosure.

2. “Ask a broker what their compensation will be for completing your mortgage.”

· Truth: Broker compensation is geared primarily to the term and secondarily to the rate. As with any incentive-based model, conflicts can exist, but no more so than with various bank rep models that pay more commission for selling a higher rate.

Misrepresentation3. Brokers pick lenders “based on only the lowest rate, no other factors”

· Truth: Rates are commodities so successful brokers always prefer to leverage trusted advice and relationships. To build each, brokers become experts in their craft, which includes term selection, product comparison (from multiple lenders…key point) and strategic mortgage planning.

4. Brokers…”cannot fit your mortgage solution together with your overall financial plan.”

· Truth: Needs assessments are a fundamental tool that brokers utilize. Brokers are trained to uncover future needs that financing might have to address.

5. “Brokers will not be there in a few months when you need to ask questions about your mortgage or change the terms of conditions”

· Truth: Referrals are a broker’s lifeblood and maintaining relationships is impossible without exceptional post-closing support.

6. “You have to be careful to deal with an institution that will give you a great rate term after term.”

· Truth: Banks’ renewal models are designed to maximize profit. That’s done through selective pricing (i.e. not offering the best rate to everyone up front). It’s a fallacy that banks reward loyalty with great rates. (Here’s some relevant research).

********

After poking around at RBC, this piece appears to be Schindler’s own doing. This advertorial is definitely not in RBC’s marketing library we’re told. Moreover, RBC’s corporate materials are far more polished (i.e., generally no grammar or formatting issues, missing slogans, mistruths, etc.).

From what we hear, Schindler violated RBC compliance guidelines and sent it out without RBC’s or her manager’s consent.

In response to all this, RBC provided us with a comment:

The opinions expressed in the document by the mortgage specialist do not reflect the positions, strategies or opinions of RBC. We are following up directly with this mortgage specialist to ensure future collateral accurately reflects the RBC brand.

We have a better idea. How about no “future collateral” from this individual period?

Fiduciaries that mislead the public for personal gain are hazards and liabilities to their employers. Anyone who would author this sort of content should be sent packing because Lord only knows what she’s telling clients in private.


Incidentally: We’ve been holding this story since last Wednesday, awaiting comment from RBC and trying to get Schindler’s side of the story to give her the benefit of the doubt. On the two occasions we did reach her, she hurried off the line, promising to call back. Needless to say, after multiple contact attempts, we never heard back.


Rob McLister, CMT

  1. Rob, I wondered why you were holding off on the story and your explanation is not only reasonable but understandably appropriate.
    I as a blogger and mortgage broker have the right I think to express my own opinions and I trusted the person who gave me the piece that it was legitimate.
    I think you have risen to a higher level. You and Melanie’s tireless work on this blog I think has elevated it to mainstream journalism and as such I understand you have a higher threshold to meet.
    I have been a reader since when Melanie started and have always enjoyed it. Thanks for what you do, and keep up the great work.

  2. As a mortgage agent, in many cases my clients have gone to see their bank first regarding their mortgage financing. I often have to deal with many of the “myths” that a banking representative may have told the client.
    What’s even more troubling is that at corporate levels and strategically banks realize the important role that mortgage brokers play in bringing good quality business to them. For example brokers do business with several of the chartered banks such as TD and Scotiabank. However, more training needs to be done at the branch level to explain to bankers how mortgage brokers and banks can work together to help the client get a great mortgage at a good rate!

  3. As i wrote in my blog, perhaps there will be a day where the author will wish to change sides and be a broker. Needless to say that opportunity will not be as easy to seize any longer due to this type of attack. Maybe she lost a few too many deals to brokers lately?

  4. Interesting story but I have a quick question for the mortgage brokers reading this. My broker has been pushing me into a 5-year variable with Firstline (which I’m not really fond of). Is it possible that this is motivated by the level of compensation for this product? My lawyer suspects that might be the case, but I don’t like discussing that sort of thing with the broker as we are friends too.

  5. Posting her picture and phone number on your site… really taking the higher road there chaps. Perhaps you would be better served just presenting the facts rather than your insidious and unscrupulous attempts to start a modern day witch hunt.

  6. Wow, she’s a hottie! Anyone checked out her website? Yeah, it’s the same template and wording as about a thousand others RBC reps, but hey at least she’s all about relationships.
    Apart from that, she keeps talking about how brokers have no financial planning experience when in fact, at least based on what she writes, she doesn’t have any credentials either.
    Too much ignorance in that piece and it’s clearly a waste of time trying to talk common sense with people who are blinded by stupidity.

  7. While I don’t condone the RB specialists actions I suggest we temper our “outrage”. There are members of our illustrious industry that have put out wrong information (easiest example – I deal with 50 lenders)and I wouldn’t want to be seen as the kettle calling the pot black.
    Greg.. you did a great job bringing notice to this and we should use this as an opportunity to educate the public about what we do… as that seems to be one of the areas where we fall down as noted by the Maritz surveys.
    just my 2 cents

  8. JR, I can only speculate your preferred option is a fixed rate, and likely a longer term like 5 year fixed as this is the most popular option. If I am wrong please let me know.
    If this is the case then the compensation for a normal variable rate and a normal 5 year fixed rate at Firstline Mortgages is the sam.
    Therefore I doubt he is motivated by the commission.
    I also think that a variable is a great option for most. may I suggest that if you choose the variable, that you set your initial payments at what they would be if you had chosen the fixed rate. This will pre-pay your principle, and give you some cushion for inevitable rate increases in the Prime Lending rate.
    Cheers,

  9. quite frankly, banks are feeling the heat of competition from mortgage brokers…and acting out like this lady has done…thank goodness for mortgage brokers or I never would have been able to buy my house way back when backs ruled the waves…..full credit to brokers and sites like this…thanx…

  10. I have read her marketing piece and putting its content aside, there appears to be a disconnect between the Banks commissioned employees and the method and governance as to how the RBC Brand is promoted. These indiscretions are not isolated in nature, or unique to RBC and are not limited to only commissioned Sales Reps. I would be interested to see how CAAMP as well as other Lenders address this type of behavior. Clearly Mortgage Brokers and Bank employees (in whatever forms they take) do not operate with the same tools (product) or mandates and as such we are not the same… but one thing is for sure, looking after our client’s needs over our own had better be top priority !

  11. I’ll be honest, JR. The shorter the term, the less you get paid. However if this is a friend, she/he should note to give you what you want. I get paid almost the same on a 5yr fixed and 5yr variable, and it goes down from there. If you want a 1 year, I’ll give you a 1 year. I would give you reasons why x is better than y, but never strongarm you into doing what you don’t want to do.
    Perhaps friends and business should never mix?

  12. The sad truth is that Corinne has eloquently put on paper what many competing bank road reps are more likely than not, selling to the public. I guess she thought it was best to put it on paper for greater distribution…..she sure got that!
    Once again, it comes down to education. I question whether or not she was intentionally trying to mislead or if she just doesn’t know the difference. Having come from the bank myself, my best guess is she just doesn’t know exactly what brokers do and she should have researched before going public……well viral.
    It is without doubt that some readers of her collateral material believe everything she had to share.
    In short she has given us (the brokerage community) a great opportunity to set the record straight without making it personal. As mentioned in previous posts, there are some brokers/brokerages out there that are equally misinformed or without ethics.
    Mike

  13. Gavin
    She posted her photo and phone number on the Royal Bank document welcoming feedback. Witch hunt? Really? Did you not see the attempts by the writers to include Schindler’s comments but rather were hurried away on the phone?
    Right, guess you missed that, CHAP.

  14. JR – I agree with the other brokers below. If this broker is a friend he may believe in his heart this is the best option for you and he probably has and believes in the same product. You need to do what you are comfortable with. If that is fixed then that’s what you should get. Just ensure you get all the facts on all the products so you can make an informed decision. As Greg stated though, if you take the variable set the payment based on the fixed rate product as it will reduce principle.

  15. I was thinking the same thing….but that must be a very old picture…her bio is
    Mortgage Specialist
    RBC Royal Bank
    Public Company; 10,001+ employees; RY; Banking industry
    1985 – Present (26 years)
    That would put her in her mid-late 40’s

  16. This is all that much funnier considering how the banks deal with mortgages. Renewal notices with sky-high “posted” rates. Refusal to negotiate competitively.
    I’ve gone through the mortgage renewal process several time and I’ve never been able to get a rate as good as I’ve gotten from a mortgage broker, even after I told the bank person I was going to use a broker and switch if I got a better deal (which I did).

  17. Gee maybe you’re right Gavin. People should protect her identity and shelter poor Corinne from the outcry. Wouldn’t want her to stress out and break an eyelash.
    WRONG!
    People that want to remain anonymous should think about that before DISTRIBUTING DECEPTIVE MARKETING WITH THEIR PICTURE, NAME AND PHONE NUMBER!
    The industry needs to make examples of flagrant unprofessionalism. Regulators openly post broker names on their websites for compliance infractions. I see no difference here. Maybe competitors will think twice now before writing this kind of drivel.

  18. Rob,
    I generally enjoy your blog, it provides great news and analysis. As I’ve followed this site for awhile now, you strike me as a genuine class act, most likely with your clients’ best interests at heart.
    That said, from what the market witnessed during the boom, you would tend to be the exception rather than the rule and I find it somewhat concerning that you seem so willing to paint the entire broker industry with this “holier than thou” brush. Who are we kidding here?
    This, in my opinion, is the huge grain of salt that non-broker readers of this site need to keep in the back of their minds.
    Other than that, like I said, when you keep the broker biases out of it, intelligent analysis and market insight.
    Cheers

  19. Thank you all for your advice. Greg I actually am a fan of variable I just find it odd that he wants me to commit to a 5-year variable and he doesn’t even mention the fact that Prime is going to start rising again and what implications that could have for my payments and most importantly the 3-months interest penalty to break and move. In my view, a 3 year variable seems more attractive as the discount from Prime is greater and its not as far out as 5 years that I can see myself having to break it. I know Firstline doesn’t offer that, but surely other A lenders must? The other thing that concerns me about Firstline is their lock-in rates seem to be higher than First National and ING as I would consider locking in if Prime took off.

  20. Hi guest,
    Thank you…I think! lol
    Like every industry, this one has skeletons too. Do a little digging in our archives and you’ll find a slew of critical pieces on a industry topics like broker compensation, status programs, advertising, competency standards, etc.
    I think you’ll find we have a long track record of airing our business’s dirty laundry whenever warranted. The goal in each case is to bring worthy issues to the forefront for honest debate.
    As for broker bias, our reputation has been made by dealing in facts, which stand on their own. We don’t rely on this site for our living (in fact its time-sucking nature probably keeps us from earning a better living…lol) so objectivity poses no threat.
    At the same time, in cases where we feel brokers provide better value to consumers, our positions will continue to reflect that accordingly.
    In any event, thanks again for the post and gracious compliments.
    Cheers…
    Rob

  21. Many thanks Greg. Much appreciated. You’ve got a great forum going on over there as well. It’s terrific to see so many passionate people online and talking through important issues.

  22. As a mortgage agent for over 21 years I was of course initially upset with what this lady has advertised. I agree with some of the posters our industry has a few embarassing agents and we would like to see them go away and we will never make excuses for them. But the fact is this lender has and will alway be hostile to our industry. We just need to continue providing the service, advice and professionalism that the consumer dserves!

  23. Very interesting to see energy around this event. The RBC document in question appears to be informational in nature and seeks to offer potential clients points to consider when selecting a financial partner. Not a lot of difference between this and MSN Canada’s Patricia Lovett-Reid
    <“>http://money.ca.msn.com/investing/patricia-lovett-reid/article.aspx?cp-documentid=28047144> , who states ” Do your homework, shop around and be ready to pepper your mortgage professional with questions. Consider your mortgage as carefully as you will the purchase of your dream home.”
    As an American who has financed in both countries, I can state first hand many brokers overzealous packaging of loan applications containing weak debt service metrics contributed to financial ruin for hard working people, who would have been better off getting a holistic financial plan prior to mortgaging their future.
    The Canadian financial model and the Bank Act is the envy of most of the Western world, I wonder if some of the questions Schindler and Lovett- Reid pose are really that slanderous ? In the long run, customers will support the models that work and provide the best total service package for their needs. We need to be less sensitive to the marketing and advertising material that both Brokers and Banks put forward and focus on the real message… make sure you understand the entire financial picture you are painting for yourself. Both brokers and specialists have unique skill sets and training, and I don’t believe either side is always going to offer the exclusive path 100% of the time.
    Thanks to freedom of expression and competition we can do , and now can make informed decisions.

  24. I don’t see validation in your opinion. Its human nature to emphasise the merits of your industry when you share a passion for what you do and believe in. Rob and this site are one of the few open forums that welcome professional opinions, good or bad, from all sides of the issues. My posting name makes it clear the side that I often represent.
    What does concern me is this going rogue RBC mortgage specialist and the opinions expressed in this written piece is likely not something that just popped into her brain one afternoon after drinking too much wine during her latest Botox injections at the spa. She is not that smart! I am curious where such strong viewpoints and bias originated from?

  25. unfortunately too many people are misinformed and believe everything it says on a rbc letterhead, vs what a broker says on the phone.

  26. I sense you are correct. I’ve seen this before – but not at a bank! This smacks of a training failure with inadequate supervision. Someone is biting down on the barrel of the gun as we speak – but I bet it’s not her. It would be interesting to follow the blood trail…
    S.

  27. Rob,
    First off: great blog! Your efforts are greatly appreciated by the Broker world, as I’m sure you know.
    Second: This is a perfect example of how Social Platforms are a fantastic tool for some and a dangerous one for many. Business Professionals need to realize that these days, if you aren’t willing to stand on a soapbox in the middle of the town square and shout your opinions to the 200 ears that are passing by, then don’t put it to paper or the web for 200 million to see.
    Not only is Royal Bank failing to repair the damage, but they are just fuelling the fire that Brokers already have burning in them by stalling.
    And as far as Corinne: the poor girl didn’t know what she was getting into, which reflects the type of professional she is in the first place to be making these statements.
    Keep up the good work Rob!
    Rob Campbell
    [twtr] therobcampbell

  28. Hi Rob,
    Thank you for your attention to this. I’m the sort that will make lemonade out of lemons. This is a great opportunity for us, as Mortgage Brokers to make the distinction between bank employees and Mortgage Brokers. It is quite universally unknown that the natural stepping stone from Mortgage Specialist is to Mortgage Broker. The majority of Mortgage Brokers I know, including myself, have extensive experience in the mainstream banks. Funny as my parents met at the Royal and all of their 3 kids had their time at RBC. I have an enormous amount of banking (’89-92 with Royal and “92 to ’97 with CIBC as an International Private Banker) – lending and mortgage experience and don’t feel the need to justify my position as a Mortgage Broker. The proof is in the pudding, as long as we provide the best service, expertise and care we will always win the client. It is difficult for a bank to provide all of this directly and I am proud of what I can offer. I really love what I do, that I can provide such a great alternative to going directly to a bank and in the end, no amount of propaganda will deter my clients from dealing with me. Just stick to your knitting…

  29. Hi Banker,
    I find myself agreeing with you. A couple of other people have asked why this lady hasn’t been removed from her position. One reason could be that RBC is giving her the benefit of the doubt. Another reason could be the source of this marketing material might come out if she decided to fight her corner if dismissed.
    I have had more than one client report their bank giving them similar lines to those in the marketing piece whilst they are talking to me around renewal/refinance time. Coincidence?

  30. your broker is giving you excellent advice. It is a no brainer, have a look at the bond market and also have a look around. If the economy is doing well we can afford to increase rates, but right now consumer debt reduces the probabilty of rate increases. It is nice to get a good return on investment; but it is equally important to get your investment returned. Don’t be alarmed take a variable rate mortgage, 90% of the time you will win

  31. Hi JR trust your broker on this one he/she is right, compensation is not a factor, they probably both pay the same, and you are probably moving or refinancincing in the next 5 years, I assume it’s portable. You are getting good advice from afriend and yoor lawyer is wrong.

  32. Hey Rob: Very nice of you to say. Thank you! Outlets like Twitter and Facebook have vastly accelerated dissemination of the public record. They say good news travels fast and bad news travels faster. Well, it’s never been this fast. lol
    Hi Kim: I think you’re right about the silver lining. This incident has certainly brought some lingering misconceptions to light…
    Cheers,
    Rob

  33. Firstline allows you the ability to convert to a fixed rate (At a term of your choice) I.E. If you were to take the 5 Year Variable that your friend is offering – you can always convert to a fixed rate later on (at no cost) Also – Firstline doens’t force you into a new 5 year term (You could take the variable rate now (and convert to a 2 year fixed rate in 6 months if you wanted to)

  34. People need to remember the knife cuts both ways, I see misleading broker advertising all the time and it has mentioned on this blog in the past. “we SHOP your mortgage to 40 different lenders”, “we can get a better rate from your own bank” really?? what if my bank is BMO, or RBC or HSBC? I know of an instance that a broker walked a client across the street to a specific bank to set up a $100,000 HELOC and charged her $1000 broker fee to introduce her to the bank she already deals with. So it does happen, I have a lot of respect for the good brokers out there but there are too many bad ones that need to be curtailed. This holier than thou attitude is a little too much to swallow.

  35. People also need to realize that the mortgage professionals as a group is similar to any other professional groups. There are dishonest and incompetent members. I personally see this at work and in life all the time. Incompetent co-workers ( I am sure everybody can relate), dentist that does unnecessary work, doctor that can’t diagnose and police officer that kick innocent people in the face. Most of these professionals are professional. No difference in the mortgage industry.
    The trick is to be able to distinguish the good ones from the bad ones. And I believe Rob has a post for that.

  36. I would suggest that every mortgage broker out there that banks at the RBC, call their branch and “discuss” moving your accounts elsewhere and the reason thereof. Have your bank rep bring up the issue with their Branch Manager who can then escalate through proper channels. At a minimum, you will get heard.

  37. to be frank I couldnt agree more with the Corrine, its about time someone came out & advise the public the “smoke in the mirrors” tatics many brokers advertise & claim. I personally went to a broker & will never use one again. Go directly to the bank ask for one of the Mortgage specialists at TD , BNS or RBC, they offered the best deal, service & didnt do the royal ****around on trying to get me into a product i didnt want,it was 100% selling a product I didnt want probably due to commission structure, some of you guys really think we ( the public are that stupid)I could give a rats ass of AMP certification means absolutely nothing & from what i have experiened most brokers work 6months of the year, golf the rest & turn your phones off when issues arise at close date. Brokers should quit crying the blues on the banks & start being honest. dont forget you guys wouldnt have a job if it wasnt for the banks like RBC , where do you think the mortgage backed securties come from, many of you need to think before bash Corrine, stating many facts you simply dont want US to know.

  38. Since RBC doesn’t work with mortgage brokers, it’s likely that the vast of their branch managers never even heard of this incident.
    Keep in mind the adviser in question didn’t even seek the approval of RBC prior to publishing this pile of crap so it won’t be fair to paint everyone with the same brush.
    Quite frankly I think that this broker vs. banker thing is a bit ridiculous. While it’s acceptable to highlight the advantage one has over the other, I think that at times some parties make the comparison nonsensical.

  39. I’m a certified financial planner who regularly refers clients to mortgage brokers. They’re better than the people at banks. I can’t believe the nonsense this woman is spewing. She’s making up crap to give out to people who don’t know any better in the hope of getting business. If I ever tried to send out a document like that in my business, my compliance cops would land on me hard. I actually hope they fire the person.

  40. Hi JR, I’d just like to expand on previous comments regarding if you go variable to set your payments based on a fixed rate. This is a good idea but I understand that some lenders allow an additional 20% payment so if you set your payments based on paying an extra 20% with the resulting payment being equal to a 5yr fixed rate, if/when rates go up you will have a cushion for reducing your payments by as much as 20%. I’m not a broker (my wife is, and this is how we set up our mortgage) so I would suggest discussing this option with your friend if this is a direction you want to pursue.

  41. Ahhh it’s always nice to hear from someone at RBC. Thanks for that “objective” portrayal of mortgage brokers Ricky. With unprofessional and uninformed comments like that, you and Corinne make a great team.

  42. Maybe to forgive and forget is the best option here!! I am sure there are many mortgage brokers out there that have been a little unkind to the banks on more than one occasion to secure a deal. I am a mortgage broker, and would never stoop to her level, and there is no way I would ever lead a client into a deal with my sole consideration being a higher commission. What goes around comes around!!

  43. Healthy respect for ones competitor in a competitive industry is good for business and the industry. Especially if you know your competitor. Because you each have a role to play to meet a particular market need; some clients want to deal with a bank and others do not. I suspect this RBC specialist does not know or understand the broker business. The same could be said about brokers who (those without banking background) does not really understand what a bank does either from a risk management perspective. These ignorant folks from both side relegate to using sound bits to put one another down because that is the easiest thing to do in front of a customer. As a former RBC Mortgage Specialist now Broker, I can totally see why there is pent-up negativity toward each other on both sides. Bank bashing sound bits are all over the place, spoken by brokers and anyone else who had a particular bad bank experience. The word bank somehow has made it into social consciousness that it is the bad guy. The bank declined me on this, they didn’t allow this, been dealing with them for 20 years and they treat me like this,…blah blah blah the list goes on. And the word broker also somehow has become somewhat tainted or associated with shady business practices. Its easy to use negative ads to attack ones opponent. Take a look at politics. Now there is an ad in Calgary (and suspect other parts of Canada) running broker ads that sound something like this…banks want to cause problems and we (brokerage name) would like to solve them. This is on the radio everyday. What kind of BS is this. It’s nothing more than another negative sound bite against banks to gain business for this particular broker. The point has been made for both sides. We could chose to act like professionals in our industry and respect each others existence or NOT. The majority would prefer the former.

  44. Give me a break. Brokers are constantly bashing banks – it is seen and heard all the time…Banks dont care about getting the best rate..blablabla. I dont agree with her letter, however, it is happening everywhere and is seen all the time..

  45. You all have nothing better to do with your time but to speak poorly of human beings. What is this world coming to. I am sure that Connie was not trying to win over clients with a letter explaining how poor brokers are. She was just stating the obvious. Look at all you brokers getting your backs up and reacting so negatively when I am very certain that you have used the Brokers are better than Banks tactic in your sales pitch more than once….

  46. You are absolutely incorrect! Canadians are very wise and knowledgable. Is it that easy to sell you something?? Are you speaking for people or for yourself?

  47. Give me a break…removed for what? She did not mention names or company names. I hear it all the time from other brokers, friends whom I work with who speak poorly about banks….why is she on the stand when it is done everywhere??

  48. It’s one thing to say you’re better than your competitor based on legitimate reasons. What you’re ignoring Ana is the fact that she lied about brokers to make herself and RBC look better.

  49. I am sure that Connie was not trying to win over clients with a letter explaining how poor brokers are. She was just stating the obvious.
    Ana…it is not hard to see which side of the fence you sit on! As far as the obvious goes…I would like to see what exactly you mean by this??? LOL.
    You know some of us ex bankers turned brokers are true prof’s (agents, brokers and bankers alike). Some of us do budgets, hold our clients hands, make sure our clients are safe…and don’t discredit anyone else to win our business…we do it by providing the best possible customer service and showing that we actually care about the end user!
    btw….what other motives would she have had to write such a paper???

  50. @Rob,
    Very interesting to say the least.
    I’m with Mike, kinda funny considering how most banks deal with clients and their mortgages in general; very little transparency to the real rate and most often posting some artibrary rate that seems born of consensus to make a load of cash from clients.
    This certainly seemed like an excellent chance for mortgage brokers to distance themselves a bit from the banks, and your article helps demystify things and your valued role in the financial industry.
    Given my successful process with you, I have no doubt I’m going to use a mortgage broker for the rest of my mortgage needs going forward. Likely folks at CMT at that.
    I hope this comment finds you well Rob.
    Cheers,
    Mark
    My Own Advisor

  51. Hi Mark,
    Many thanks for the post and gracious feedback. It may take a while but banks will eventually be forced into transparency. You can only fool uninformed consumers, and the Internet will someday make those few and far between…
    Take care and hope all’s well in the capital…
    Rob

  52. No one is saying they are holier than thou. The point being made is simply that it’s not right to lie to customers.
    This woman from the bank spread mistruths about her competitors. That is a fact and that is what is being debated here.
    If you want to get into your own tirade and make generalizations about brokers, that is your prerogative. In my opinion, it’s a diversionary tactic that shows a lot of defensiveness on your part.
    P.S. There are brokers out there who refer business to RBC, BMO and HSBC with no broker fee. Be careful not to paint everyone with the same brush.

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