MONTREAL, Dec. 16, 2013 /CNW Telbec/ - On December 1, National Bank Direct Brokerage (NBDB) adjusted its fee structure to make it among the most competitive in the Canadian direct brokerage industry. The new general fee schedule caps annual administrative fees and saves clients money.
Annual administrative fees and exemptions are now calculated on all accounts held by a client1, rather than on each individual account.
"With this new streamlined fee structure, doing business with NBDB just got better. We are proud to have received the highest rating in the recent J.D. Power Canadian Discount Brokerage Investor Satisfaction Study. Our goal is to stay at the top," stated Nancy Paquet, President of NBDB.
If an NBDB client's personal assets exceed $20,000 on May 31, 2014 or the client trades equities, exchange traded funds (ETF) or options at least five times between June 1, 2013 and May 31, 2014, the $100 administrative fee will be waived.
For clients whose total assets are less than $20,000, administrative fees will be charged and divided among the client's accounts. For example, if a client has an RRSP and a TFSA, the $100 fee will be split and the client will only pay $50 per account.
No changes have been made to our already very competitive commission schedule.
National Bank Direct Brokerage received the highest numerical score among discount brokerage firms in the proprietary J.D. Power 2013 Canadian Discount Brokerage Investor Satisfaction StudySM. Study based on 3,089 responses measuring investor satisfaction and measures 11 firms. Proprietary study results are based on experiences and perceptions of consumers surveyed in May-June 2013.Your experiences may vary. Visit jdpower.com.
About National Bank Direct Brokerage
National Bank Direct Brokerage is a wholly owned subsidiary of National Bank of Canada. National Bank Direct Brokerage offers no advice and makes no investment recommendations. The client alone is responsible for the financial and tax consequences of his or her investment decisions. National Bank Direct Brokerage is a member of the Canadian Investor Protection Fund.
About National Bank of Canada
With $188 billion in assets as at October 31, 2013, National Bank of Canada (www.nbc.ca) together with its subsidiaries, forms one of Canada's leading integrated financial groups, and has been named among the 20 strongest banks in the world by Bloomberg Markets magazine. The Bank has close to 20,000 employees and is widely recognized as a top employer. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities via social media and learn more about its extensive community involvement at clearfacts.ca and commitment.nationalbank.ca.
1 The accounts must have the same root, i.e., the first six digits of the account number must be identical.
SOURCE: National Bank of Canada
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