Brokers Quotes

On freedom from pressure

“We are totally independent, absolutely no pressure to sell any products.”
— Wellington West advisor

On training

“I’ve had more training in 15 months than in the last 15 years of my career.”
— Edward Jones broker

On public image

“It’s easy to do business with a bank behind you.”
— BMO Nesbitt Burns broker

On strategic focus

“There’s lots of talk, but with little substance to back it up.”
— TD Waterhouse Investment Advice broker
On why clients prefer full-service brokers

“People want the time of day. They want service, a relationship, and that’s why they come to me. The clients I have don’t want to use a discount brokerage.”
— Raymond James broker

On branch managers

“I don’t agree with producing managers.”
— ScotiaMcLeod broker

On technology

“We still have one piece of technology that is DOS-based!”
— TD Waterhouse Investment Advice broker

On the importance of a single, national regulator

“I pay B.C., I pay Saskatchewan, I pay Alberta. Canada’s system is so Mickey Mouse.
— Canaccord broker

On sales support

“Every year the firm raises the commission needed to have an individual sales assistant.”
— ScotiaMcLeod broker

On why a broker would switch firms

“With everything else being equal, I would only leave if there was a difference with the payout.”
— BMO Nesbitt Burns broker

On advertising

“What advertising? We do our own locally in the branch.”
— National Bank Financial

The best things about your firm

“The support. The attitude here is that I’m the client, and they make sure I have everything I need to be happy.”
— Raymond James broker

“The assistant/broker ratio (1:1), the independent company, the compensation.
It’s an awesome firm to work for.”
— Wellington West broker

“The freedom to work on your own with just an assistant.”
— Edward Jones broker

“The independence, the flexibility and the freedom.”
— Canaccord broker

“The firm has a great reputation and will be here for the long term. It is the most female-friendly firm on the street.”
— RBC Dominion Securities broker

“The family-type atmosphere. There is no pressure to change your business to fee-based. As long as you’re doing decent business, no one bothers you.”
— National Bank Financial
broker

“I think the grid is very fair. The focus on high net-worth and third-party managed money is key to that.”
— First Associates broker

“It’s a big, stable bank and has access to good research and new issues.”
— CIBC Wood Gundy broker

The worst things about your firm

“Management, with head office being in Toronto, they’re out of touch with western
brokers.”
—First Associates broker

“It’s a small operation without a real game plan. Where is the direction?”
— TD Waterhouse Investment Advice broker

“The payout, and the nickel-and-diming that goes on. But that’s the bank mentality.”
— BMO Nesbitt Burns broker

“The absolute worst thing is the ongoing struggle to get a referral relationship between the bank and ScotiaMcLeod. It’s abysmal.”
— ScotiaMcLeod broker

“There are more investment advisors than
sales assistants, and I can’t keep up
with all the admin work because of the lack of technology.”
— CIBC Wood Gundy broker

“It’s a relatively new firm, we don’t have the brand exposure that bigger firms have.”
— Wellington West broker

“We get no respect. We don’t get in on certain deals with Eastern firms because our head office is on the West Coast.”
— Canaccord broker