ETF firm WisdomTree Asset Management Canada Inc. has struck a deal with portfolio manager and investment fund manager Questrade Wealth Management Inc. that will see the companies team up on the management and distribution of ETFs.

The Toronto-based firms announced that they have entered a series of agreements that will see WisdomTree Canada take over management of the Questrade ETFs, while also becoming a “premier provider” of ETFs on Questrade’s self-directed platform. They’re also planning to work together to develop ETF-focused educational initiatives and resources for Questrade clients. In addition, WisdomTree Canada will become a consultant for Questrade’s low-cost online investment service, Portfolio IQ.

As part of the deal, WisdomTree Canada will acquire Questrade’s ETF lineup and it’s expected that the firm will roll those funds into its own existing Canadian ETFs. The acquisition is subject to regulatory and unitholder 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,” says Kurt MacAlpine, head of global distribution at New York-based WisdomTree Investments Inc., in a statement. “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.”

Adds MacAlpine: “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.”

“Questrade is committed to delivering the highest-quality investment options to Canadian investors,” says Edward Kholodenko, president and CEO of Questrade, in a statement. “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.”

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