The Standard Life Assurance Company of Canada has teamed up with Qtrade Financial Group in a strategic alliance to launch a series of joint projects, to be rolled out over the coming year.
The first project will offer the Qtrade Investor online brokerage platform to Standard Life’s independent advisors outside Quebec.
“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.
Roughly one third of adult Canadians either have an online brokerage account or are considering opening one. This is not strictly a do-it-yourself phenomenon, either; over 30% of full-service investors also have an online brokerage account, according to Standard Life, making an online brokerage platform an important tool in an advisor’s overall offering.
“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,” said Joel Bernard, vice-president, business development of the Qtrade Financial Group.