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Simplii GIC Interest Rate Changes
November 29, 2018
9:37 am
hotmony
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February 20, 2018
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I think fs brokers get a bit automatically for retention wrap or not.
The theory maybe like a credit card ur more likely to spend/invest "silly" at a full serve house.

December 1, 2018
12:23 pm
Norman1
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hotmony said
I think fs brokers get a bit automatically for retention wrap or not.
The theory maybe like a credit card ur more likely to spend/invest "silly" at a full serve house.  

The deposit/investment brokerage business doesn't quite work that way. There is no trailer fee on a GIC. So, if the brokerage house doesn't receive any net commission, then the firm isn't going to pay the individual broker anything either.

At best, the individual broker with a large book of non-commission generating accounts will be given extra time to generate commissions, should the individual fail to meet their commission quota.

January 4, 2019
7:21 am
GR
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Simplii lowered GIC rates for 1 year to 3.00% p.a. and for 5 years to 3.40% p.a., matching Tangerine.

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