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Email this2:09 pm
December 12, 2009
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Questrade Financial Group, Inc., fresh off acquiring Community Trust, a federally-regulated trust company, has filed preliminary paperwork to incorporate a Schedule I Chartered Bank subsidiary to be known as Quest Bank (in English) and Banque Quest (in French).
Details here: http://www.gazette.gc.ca/rp-pr.....g.html#ml1
Unknown whether they plan to have a direct-to-consumer division or just operate in the brokerage channel. I think it's a coin toss, but might favour the former rather than the latter given their heavy involvement in soliciting direct-to-consumer business from the Big 5 bank-owned brokerages.
Based on how long it takes to commence operations, don't expect anything for at least a year, possibly 2-3 years. 😉
Cheers,
Doug
3:54 pm
January 9, 2011
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Doug said
Questrade Financial Group, Inc., fresh off acquiring Community Trust, a federally-regulated trust company, has filed preliminary paperwork to incorporate a Schedule I Chartered Bank subsidiary to be known as Quest Bank (in English) and Banque Quest (in French).Details here: http://www.gazette.gc.ca/rp-pr.....g.html#ml1
Unknown whether they plan to have a direct-to-consumer division or just operate in the brokerage channel. I think it's a coin toss, but might favour the former rather than the latter given their heavy involvement in soliciting direct-to-consumer business from the Big 5 bank-owned brokerages.
Based on how long it takes to commence operations, don't expect anything for at least a year, possibly 2-3 years. 😉
Cheers,
Doug
I would expect a big splash, ie; both. Really its the only way they can approach this, or its a waste of time (and money).
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
