WisdomTree Enters Into Strategic Agreements With Questrade
July 27 2017 - 4:05PM
Firm will become a premier provider of
commission-free ETFs for purchase for Questrade self-directed
investors
WisdomTree Investments, Inc. (NASDAQ:WETF), an exchange-traded fund
(“ETF”) and exchange-traded product ("ETP") sponsor and asset
manager, today announced that two of its wholly-owned subsidiaries,
WisdomTree Asset Management Canada, Inc. (“WisdomTree Canada”), and
WisdomTree Asset Management, Inc. (“WTAM”), have entered into a
series of agreements with both Questrade Wealth Management Inc.
(“QWM”) and its sister company, Questrade, Inc. (“Questrade”),
Canada’s fastest growing online brokerage.
Highlights include:
- WisdomTree Canada will become a premier provider of ETFs
available for purchase on a commission-free basis on Questrade’s
self-directed platform. This will include all of the WisdomTree
Canadian ETFs. In addition, both companies will work together
to develop and deploy a variety of ETF-focused educational
initiatives and resources for Questrade clients, including
webinars, newsletters and reports on investing topics.
- WTAM will become a consultant for Questrade’s Portfolio IQ, a
professionally and actively managed low-cost online investment
service.
- WisdomTree Canada has agreed to acquire the right to manage
QWM’s eight ETFs with approximately CAD $89 million in assets under
management, subject to obtaining unitholder and regulatory
approvals.
“We’re excited to be joining forces with Canada’s leader in the
online investing space and to be able to offer our suite of
Canadian ETFs to Questrade clients,” said Kurt MacAlpine, Head of
Global Distribution, WisdomTree Investments, Inc. “Last year,
we launched our first set of equity ETFs in Canada, and just
recently, our first set of smart beta fixed income ETFs, which have
been very well received. Today’s announcement is another
milestone for the growth of our business in this key market and
reflects our strong commitment to Canada.”
A smart beta innovator, WisdomTree pioneered the concept of
fundamentally weighted indexes and is currently an industry leader
in the category. Today, WisdomTree is among the top ten ETF
providers in the world with Canadian ETFs spanning a variety of
asset classes and geographies.
“This strategic agreement with Questrade, combined with our
talented team and differentiated product set, is an important part
of WisdomTree’s deepening commitment and long-term opportunity in
the Canadian ETF market,” MacAlpine added.
“Questrade is committed to delivering the highest quality
investment options to Canadian investors,” said Edward Kholodenko,
president and CEO at Questrade. “We believe these strategic
agreements with WisdomTree will continue to provide investors
access to cost-effective and innovative ETFs, as well as critical
investor education.”
The acquisition is subject to regulatory and unitholder
approvals, and it is expected that for most of the funds, the
Questrade ETFs will merge into existing ETFs managed by WisdomTree
Canada, while WisdomTree Canada is expected to become the trustee
and manager for one of the existing Questrade ETFs. In either case,
this will result in a change of the fund manager for those
Questrade ETFs. Questrade will provide unitholders with further
specific details of these transactions, including the record date
and timing for the unitholder meetings to approve the change of
trustee and manager and related mergers, as applicable, of the
Questrade ETFs at a later date.
About
WisdomTree
WisdomTree Investments, Inc., through its subsidiaries in the U.S.,
Europe, Japan and Canada (collectively, "WisdomTree"), is an
exchange-traded fund ("ETF") and exchange-traded product ("ETP")
sponsor and asset manager headquartered in New York.
WisdomTree offers products covering equities, fixed income,
currencies, commodities and alternative strategies.
WisdomTree currently has approximately $45.4 billion in assets
under management globally.
WisdomTree® is the marketing name for WisdomTree
Investments, Inc. and its subsidiaries worldwide.
About QuestradeQuestrade (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 17 years of challenging
status quo as Canada's leading, non-bank online brokerage,
over $5 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 recently 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.
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. ©2017 Questrade Financial Group Inc. All
Rights Reserved.
Media Contacts:
For WisdomTree:
Canada Media
NATIONAL Public Relations
Suzanne Diab
+1.416.848.1399
canadapress@wisdomtree.com
U.S. Media
WisdomTree Investments, Inc.
Jessica Zaloom
+1.917.267.3735
jzaloom@wisdomtree.com
For Questrade:
Susan Willemsen
The Siren Group Inc.
+1.416.461.1567
susan@thesirengroup.com
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