Member Spotlight: Questrade

by andy

Questrade: Bringing More Value to Canadians

Questrade, an FDATA North America founding member, offers Canadians simpler and more affordable ways to become financially successful and secure. Founded in 1999, the firm is now the country’s fastest growing online brokerage firm, and has been named as one of Canada’s Best Managed Companies for nine consecutive years.

While the growth in accounts is impressive, it is constrained by the fact that traditional financial institutions frequently prevent consumers and small businesses from sharing their own financial data. A system of open finance would help Questrade empower even more Canadians with the tools and opportunities to pursue their individual financial goals – providing tailored convenience while still providing the top notch security people expect from a financial services company.

Questrade is committed to the principle of financial inclusion. As part of its efforts to bring more individuals and families into the investing community, the company has worked to shine a light on a system that is normally opaque. The company has run television ads explaining how Canadians often overpay for investment fees. In the Globe and Mail, Simon Tanner, principal financial advisor with Dynamic Planning Partners in Vancouver, praised the ads, saying Questrade has “forc[ed] advisors to look at their business models and ask, ‘Am I demonstrating value for these fees?’” The company partners each year with JA Central Ontario to celebrate Financial Literacy Month by offering educational opportunities to students and recently announced a donation of one million meals to FoodBanks Canada.

Questrade has won numerous accolades for its work. In 2018 and 2019, it earned the DALBAR Seal for Service Excellence, which can only be earned after a company undergoes an audit of their customer service practices. MoneySense named the firm the best online broker for 2019.

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