RBC Clearing & Custody is in the midst of a period of significant growth. According to the firm, it has signed 50 new RIAs since August 2020. The additional of those RIAs marked a 58% increase in the firm's RIA count, and brought the count up to 145 RIAs. RBC also recently renamed its clearing division to RBC Clearing & Custody.  The division was formerly referred to as RBC Correspondent Services and RBC Advisor Services, depending on whether the firm was working with an IBD or RIA.

The increases experienced by RBC are indicative of large changes in the asset custody industry.  According to an article in Financial-Planning.com, these industry shifts are a result of recent firm consolidation and a desire by firms to diversify their custodial relationships.

RBC Clearing & Custody has also made efforts to increase its technological capabilities, with a new website and mobile app currently being produced. Additionally, SalesForce and Deloitte have been working with RBC to create a new platform for advisors, which should be available by the end of 2021 or the beginning of 2022.

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