MONTREAL and VANCOUVER, June 15, 2011 /CNW Telbec/ - The Standard Life
Assurance Company of Canada and the Qtrade Financial Group today
announced a strategic alliance which will allow their customers to
benefit from an enhanced product and service offering. A series of
joint projects are expected to be launched over the next year.
The two companies will first work on offering the Qtrade Investor online
brokerage platform to Standard Life's independent advisors outside
Quebec. Qtrade Investor has been ranked the #1 rated online brokerage
in Canada by The Globe and Mail for the past five consecutive years, and was also rated the "Best
Discount Brokerage" in Canada in December 2010 by Morningstar at the Canadian Investment Awards.
Online brokerage is a growing trend. Approximately one third of adult
Canadians either have an online brokerage account or are considering
opening one. Over 30% of full-service investors also have an online
brokerage account, making an online brokerage platform an important
tool in an advisor's overall offering.
"The new alliance is quite exciting for us as both companies have
complementary strengths and it will help Standard Life respond to
emerging trends more quickly," said Sylvain Messier, Vice-President,
Strategy and Development of Standard Life.
Joel Bernard, Vice-President, Business Development of the Qtrade
Financial Group, added: "We're thrilled at the opportunities we see
working together with Standard Life considering their long history and
strength in providing top quality insurance-based wealth management and
investment solutions such as segregated funds, to Canadians."
The Qtrade Financial Group provides brokerage and wealth management
solutions to the retail public as well as the clients of over 200
financial institutions across Canada including credit unions, regional
banks, financial planning firms, trust companies and portfolio
The Standard Life Assurance Company of Canada and its affiliated
companies offer a full range of products and services for long-term
savings and investment to individuals, as well as small and large
employers and their employees.
About the Qtrade Financial Group
Qtrade provides its financial institution partners with a single source
for market-leading wealth management products and services, including:
online, full-service and institutional brokerage services, full-service
mutual fund dealer services, insurance dealer services, portfolio
management and discretionary money management services and proprietary
managed money solutions, including a full range of socially responsible
investment solutions. As of March 31, 2011, Qtrade administered over
C$6 billion of investment assets.
About Standard Life
Standard Life plc is a leading long-term savings and investment company
headquartered in Edinburgh, Scotland. Standard Life has around 6
million customers worldwide and operates in the United Kingdom, Europe,
North America and Asia Pacific, and globally with Standard Life
In Canada, Standard Life has been doing business for 178 years. Standard
Life Financial Inc., which wholly owns The Standard Life Assurance
Company of Canada and Standard Life Mutual Funds Ltd., has about 2,000
employees and serves more than 1.4 million Canadians, including group
benefit and retirement plan members.
As of March 31, 2011, Standard Life plc had C$309 billion in assets
under administration, including C$41 billion in Canada through Standard
SOURCE STANDARD LIFE
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