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 dollars 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 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 clients can access them at their convenience. We are about being available to all Canadians – on their schedule,” continues Kholodenko.
Kholodenko also emphasizes that the portfolios 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 focus on other life priorities knowing that we are focused on them. Everyone should have access to low fee portfolios that are managed by professional portfolio managers.”
Portfolio IQ highlights:
- An account can be opened for as little as one dollar. The investments remain in cash until the balance reaches $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 fee rate. In addition, clients can combine household assets to potentially 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