Getting to the bottom of who’s on top of Canada’s discount brokerage market

The bottom line

Any way you slice it, getting a compliment is a great thing. If you are a discount brokerage, having someone call you the “best” among your peers is definitely something you want to share.  The problem, however, is that being the best has now become so easy to do that what it means to people isn’t exactly clear.

There is a clear disconnect between the happiness of discount brokerage clients versus their satisfaction, and an even bigger disconnect between either of those and loyalty.  Imagine, if 9 out 10 people in a relationship you spoke to reported being happy, but 8 out 10 of them were thinking of being with someone else. We are no experts, but if all of the partners that described themselves as  “the best” actually lived up to the claim, people would spend more time looking at their partner instead looking for an exit.

References & Sources

The following table contains links to the data used in researching each discount brokerage:

CompanyThe ClaimThe SupportTimeframe Claim Applies ToReference url
Top Bank-Owned Online BrokerageGlobe and Mail 2012 Online Brokers Ranking2012BMO Press Release
Highest in Investor SatisfactionJ.D. Power and Associates Investor Satisfaction Survey2012Award info page on Disnat's website
Best Discount BrokerageMorningstar Canadian Investment Awards2012 Morningstar Investment Awards Page
#1 online brokerage for client service in Canada
Dalbar Direct Brokerage Service Award
2012 Award Info Page on HSBC website
Canada's top online discount brokerageSurviscor's Online Discount Brokerage scorCardQ1 2013 News Release
Canada's #1 Direct Investing BrokerageInvestor Economics in the "Online/Discount Brokerage Market Share Report" Quarter ending Sep 30, 2011Report is not publicly available; No news release had the information either. The following two links: Link 1 and Link 2 reference the claim/report
Best Canadian Online BrokerGlobe and Mail 2012 Online Brokers Ranking2012 Virtual Brokers' discount broker comparison page


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