WisdomTree Investments, an ETF sponsor and asset manager, announced on July 27 that its subsidiaries WisdomTree Asset Management Canada and WisdomTree Asset Management, have entered into agreements with Questrade Wealth Management and Questrade, an online brokerage.
"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."
WisdomTree Canada will now be “a premier provider of ETFs available for purchase on a commission-free basis on Questrade's self-directed platform,” says the company.
Both companies will develop together and deploy new ETF-focused educational initiatives and resources for Questrade clients, including webinars, newsletters and reports on investing topics.
Furthermore, WisdomTree Asset Management will now be a consultant for Questrade's Portfolio IQ, a professionally and actively managed low-cost online investment service.
$89 million in AUM
In addition, WisdomTree Canada will acquire the right to manage Questrade Wealth Management 's eight ETFs with about CAD $89 million in assets under management. This is subject to unitholder and regulatory approvals.