With Portfolio IQ™, clients can open an account with a dollar and get an actively and professionally managed portfolio starting at $2000
TORONTO, Nov. 17, 2014 /CNW/ - Questrade is today launching Portfolio IQ™, a new offering that redefines wealth management as a service that isn't just for the wealthy anymore. Portfolio IQ introduces the online delivery of professionally and actively managed investment portfolios at an ultra-low fee. For the first time, Canadians can get a customized investment portfolio created for them entirely online and have world-class money minds actively managing their investments.
"We are offering this service because we believe all Canadians — not only the wealthy — deserve every chance to build wealth," says Edward Kholodenko, President and CEO of Questrade Financial Group. "With the typical wealth management model, you need $250 to 500 thousand of investable assets – just to start. We dramatically reduced that – a dollar to open an account and $2000 to get a customized portfolio. This is an entry point just about anyone can afford. It's the democratization of investing."
With Questrade Portfolio IQ, investors can go online 24-7 and answer a few simple investment questions about their goals, time horizon, and tolerance for risk. Within minutes, an investment portfolio is created for them. Professional portfolio managers actively manage, monitor and rebalance the portfolio, giving the account owner the added comfort that their investments are taking advantage of market opportunities.
"The portfolios are created and are available entirely online, so if our client is 100% satisfied with logging in to create and view their account, it's all there. And if the client wants to talk with a portfolio manager? No problem. We are available by phone or they can make an appointment and we'll chat when it's convenient for them. It's all about being available to Canadians how they want," continues Kholodenko.
Kholodenko also emphasizes that accounts with the Portfolio IQ service are managed by professional investment managers: "There are real people guiding the investments, making sure the portfolio is at peak performance. This means our clients can relax and focus on other life priorities knowing that we're always on it. Everyone should have access to low fee portfolios that are managed by professional portfolio managers, not robots."
- Accounts with Portfolio IQ can be opened for as little as one dollar. The investments remain in cash until they reach $2000, at which point the money is invested for the client in their portfolio.
- Annual fees from 0.35%, with a minimum of $99.95 per year. The larger the investments, the lower the rate of the fee. In addition, clients can combine household assets to potential reduce the fees even further.
- Accounts are available as investment accounts, TFSAs, RRSPs, LIRAs, RIFs, LIFs and RESPs.
- If clients have multiple goals and portfolios, clients can have different risk tolerances for each allowing for flexibility in goal-setting. Clients can also login to their account to make changes to their profile to reflect life events and changing goals. The portfolio will be adjusted for them.
- Portfolio IQ is available Canada-wide
Aligning with the launch, Cabbie Richards interviews Edward Kholodenko about the power of Portfolio IQ. He also ambushes his financial advisor (a.k.a. F.A.) in a three-part video series about Portfolio IQ, where he tries to get respect for his money.
About Questrade Financial Group Inc.:
Questrade Financial Group Inc. and its affiliated companies provide financial products and services to Canadians including securities, foreign currency, investment and wealth management. In 2014, Questrade's CEO was named as EY Entrepreneur of the Year (Ontario) in the services category, and since 2011, Questrade has been ranked one of Canada's Best Managed Companies. Questrade Financial Group is headquartered in Toronto.
About Questrade, Inc.:
Questrade, Inc. provides Canadians with an exceptional trading experience in the U.S. and Canadian stock and options markets through its IQ trading platforms, as well as forex and CFD trading. Questrade, Inc. also provides services to Portfolio Managers, including Questrade Wealth Management Inc. Since 1999, the company has led the industry in delivering outstanding service, exclusive products, and competitive pricing. This commitment to innovation has appealed to independent investors, and for the past three years, the company has been ranked by Investor Economics as Canada's fastest growing online brokerage. In 2014, Dalbar recognized Questrade's commitment to its clients by ranking the company #1 for investor statements.
About Questrade Wealth Management:
Questrade Wealth Management Inc. provides managed accounts through Portfolio IQ, an ultra low-cost, customized investment service.
Questrade, Inc. and Questrade Wealth Management Inc. are wholly owned subsidiaries of Questrade Financial Group Inc.
Video with caption: "Video: What happens when you put Cabbie, host of TSN's Cabbie Presents, and Edward Kholodenko, President and CEO of Questrade Financial Group, in a room to chat about wealth management? Watch our new video to find out. Wealth management isn’t just for the wealthy anymore.". Video available at: https://www.youtube.com/watch?v=n0a7E6enumo
Video with caption: "Video: More gain, less drain (Questrade Portfolio IQ featuring Cabbie): Our man Cabbie Richards is ready to invest his money but his financial advisor (a.k.a. F.A.) has an unpleasant surprise in store. Cabbie enlightens F.A. about Portfolio IQ™, the new game-changing service from Questrade. Portfolio IQ delivers professionally and actively managed investment portfolios with ultra-low fees.". Video available at: http://www.youtube.com/watch?v=_nXZFtk9rAk&feature=youtu.be
SOURCE: Questrade Inc.