Exclusive: A Year in Review and Look Ahead from Canada’s Online Brokerages

Credential Direct

In the early days of online investing, trading sites were primarily frequented by market-savvy day traders, who sought the thrill of a quick buy and sell. But as our world has become increasingly digital, the online brokerage channel has evolved to gain wider appeal. It is now attracting the everyday investor, who trades less frequently and favors a longer term wealth management strategy.

In 2014, online brokerages across Canada announced changes to pricing models that reflected this shifting audience, and Credential Direct was no exception. After a thorough competitive review, we made several enhancements to our offering, always with this everyday investor in mind. Most notably, we announced a flat trade commission of $8.88 for everyone, regardless of account size or trading activity. We kept it simple and transparent, with no strings attached and no hidden ECN fees.

Equipped with one of the simplest pricing models in the industry, we set our sights on streamlining the sign-up procedure for new accounts, and in the fall, launched a new guided online account opening application. The process is now more intuitive and efficient than ever, enabling new clients to start trading quickly (within one business day), from their desktops, tablets or smartphones. We also enhanced our trading platform by incorporating new Technical Event Analysis and Value Analyzer tools, powered by Recognia. We were the first Canadian online brokerage to offer the Trading Central ETF Newsletter, and the only to implement Predict Wall Street.

But even a digital business is only as good as the people behind it, which is why the achievement we are most proud of this year is being ranked number one for customer service in Surviscor’s 2014 online brokerage ranking. Our team members consistently deliver unparalleled email and phone service, continuously boosting our value to new levels.

Looking forward, our goal for 2015 is to continue offering the best, most high-touch service possible. This means we will keep adding educational resources that empower our investors to strengthen their financial future. We’ll build on the success of our 2014 webinar series (which featured the award-winning blogger behind Canadian Couch Potato, Dan Bortolotti) by offering more frequent webinars and presentations on broader topics that influence financial management at a higher level. We’ll further improve our technology, aiming to help investors feel as comfortable using our platform as they would any other day-to-day device or software, and we’ll continue to look for new ways to put top resources in the hands of our clients.

This and much more is around the corner for Credential Direct and our clients in 2015!

Kim Thompson
SVP, Advisory Services
Credential

To learn more about Credential Direct, visit their website at www.credentialdirect.com or view our profile of Credential Direct here.