Qtrade Investor remains the leader in Online Brokerage Service Levels in Canada
TORONTO, ON --- January 29, 2018 --- For the third consecutive year, Qtrade Investor has been awarded top honours for Canadian self-directed brokerage customer service, as measured by the 2017 Surviscor Service Level Assessment review. RBC Direct Investing finished second, improving two spots from 2016, while Desjardins Online Brokerage and Credential Direct tied for third. The review, now in its 13th year, analyzed 170 service enquiries per brokerage firm sent between January 1, 2017 and December 31, 2017, with the key variable being the average response time.
" The whole self-directed brokerage industry has come under fire since late December due to platform downtimes and long wait times - levels not seen since early 2000. Our review covers all of 2017 and may not completely reflect the immediate issues; however, the industry has been trending in the wrong direction for months, and some firms for years," said Glenn LaCoste, President of Surviscor Inc. " The difference with Qtrade Investor is that they consistently outperform their industry peers regardless of the current service challenges facing the self-directed brokerage industry." added Mr. LaCoste.
"This recognition is gratifying because the level of competition in the online brokerage space is higher than ever and it takes hard work to remain among the best," said Catherine Wood, Senior VP and Head of Online Brokerage, Insurance, Product and Marketing with Qtrade Financial Group, the parent company of Qtrade Investor." We've seen a surge in trading volumes over the past few months, with the strong economy and growing interest in cryptocurrency and other emerging industries. That has stretched our client service resources, but we're fortunate to have a dedicated team and they've worked incredibly hard to serve our clients. We've been actively adding more representatives, and we're as committed as ever to supporting self-managed investors with timely, knowledgeable and accurate client service."
In addition to the online brokerage rankings, Surviscor analyzed 29 banks and credit unions using the same methodology and criteria. The banking results indicate a major shift in Canada as, for the first time in 13 years, there was no major bank in the top 5. The complete rankings along with individual firm review pages, for both the brokerage and banking industries, can be found at www.surviscor.com.