TORONTO, Feb. 21, 2018 (GLOBE NEWSWIRE) -- In order to meet the needs of Canadian investors who are looking for an accessible, transparent, long-term investment solution as an alternative to traditional financial institutions, Questrade Wealth Management Inc. (www.questrade.com) is lowering the initial investment amount required for its Questrade Portfolio IQ® offering. Now, with the reduced minimum investment of $1,000 (down from $2,000) the service is accessible for Canadians who want to begin investing, to start sooner. Clients can open an account for free; any funds deposited below $1,000 will sit in cash until the account reaches the new minimum level, at which point the funds will be invested in a suitable portfolio.
“We want to make Portfolio IQ work harder for more Canadians,” explained Edward Kholodenko, president and CEO, Questrade. “By lowering our account minimum we can make this service widely available and help clients get invested with less, to start growing their savings earlier and faster.” He continued, “Our mission is to help Canadians become more financially successful and secure, and we want them to know there is a better option for their retirement needs.”
About Questrade Portfolio IQ
Questrade Portfolio IQ is a smart, low-cost digital alternative to traditional financial institutions and a trusted way to plan for one’s retirement. Compared to the average mutual fund fees, that can limit long term growth, Questrade Portfolio IQ portfolios use a cost efficient mix of exchange-traded funds (ETFs) as a diversified investment with significantly lower fees, which helps Canadians “Keep More of their Money” and retire up to 30 per cent wealthier.
About Questrade, Inc.
Questrade (www.questrade.com) is Canada’s fastest growing online brokerage that is changing the Canadian financial services industry by leveraging technology to lower fees, and providing a viable alternative to traditional financial investment options, thereby allowing Canadians to “Keep More of their Money.” As a leader and innovator in fintech, Questrade is a trusted ally that advocates for consumers, focused on improving value.
With 19 years of challenging status quo as Canada's leading, non-bank online brokerage, more than $6 billion in assets and more than 30,000 accounts opened every year, Questrade and its companies provide financial products and services: securities, foreign currency investment, and online wealth management. Questrade has again been named one of Canada’s Best Managed Companies for the sixth year in a row. For more information visit www.questrade.com, or follow on Facebook and Twitter @Questrade.
About Questrade Wealth Management, Inc.:
Questrade Wealth Management Inc. ("QWM") provides professional investment management services through Portfolio IQ. QWM is an Exempt Market Dealer, Investment Fund Manager and Portfolio Manager. QWM is a wholly owned subsidiary of Questrade Financial Group Inc.
Questrade Wealth Management Inc. (QWM) and Questrade, Inc. are wholly owned subsidiaries of Questrade Financial Group Inc. Questrade, Inc. is a registered investment dealer, a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF), the benefits of which are limited to the activities undertaken by Questrade, Inc. QWM is not a member of IIROC or the CIPF. Questrade Wealth Management Inc. is a registered Portfolio Manager, Investment Fund Manager, and Exempt Market Dealer. Portfolio IQ is a service provided by QWM. ©2018 Questrade Financial Group Inc.
Retiring 30% Wealthier illustrates how investing with Questrade Portfolio IQ Balanced Portfolio could improve your retirement savings using a hypothetical example. Questrade Portfolio IQ has an annual fee of 0.97%, compared to mutual funds that have an average annual fee of 2.30% (123 Global Neutral Balanced Funds). This is based on an initial investment of $20,000, compounded annually over 30 years. Fees may change over time and actual results may vary. No representations and warranties are made as to the reasonableness of these assumptions.
For more information, visuals, or to arrange an interview with Questrade president and CEO, Edward Kholodenko, please contact Susan Willemsen or Briana Le Goaix at The Siren Group Inc. Tel: 416-461-5270. Email: Susan@thesirengroup.com or Briana@thesirengroup.com or www.thesirengroup.com, on Twitter and Instagram @thesirengroup.