Is Questrade owned by a bank?
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- Updated On:30-Jun-2023
- Replies:1
Short Answer
Questrade is not owned by a bank. It is a privately owned company with major stake holder as the company's CEO Edward Kholodenko.
Detailed Answer
Questrade is one of the largest Canadian brokerage companies based in Toronto. Questrade is one of the most widely used brokerages to invest in stocks, mutual funds, ETFs and other securities.
Founded in 1999, It provides the facility of pre-built portfolios termed as Questwealth Portfolios, where the account holders can directly invest their capital and the research is carried out by the Questrade asset managers for a fee and offers various other financial services as well.
Key Stakeholders of Questrade
Here are the important details:
- Private Company: Questrade is a privately-owned company and is not listed on the Toronto Stock Exchange (TSX). Thus has no public ownership in its stakeholding pattern.
- CEO Edward Kholodenko: Edward Kholodenko is the key founder and Chief Executive Officer of Questrade. The company gained extreme popularity and became of the major brokerage companies in Canada. As of Questrade has more than $ 20 Million under management and more than 250k active brokerage accounts.
- Co-Founders: The CEO of Questrade Edward Kholodenko founded the Questrade Group of Financial Institutions with three more partners as co-founders of the company. The co-founders hold a major percentage of the company which is not disclosed for public information.
- Venture Capital Firms: As the company made progress with time, other external investors from venture capital firms have invested in the company which deludes and affects the percentage of ownership of each individual in the company. As the comapny grows and raises money, more and more equity and ownership of the company is affected.
Questrade
Thus, Questrade is not owned by any bank and is an independent privately owned company. Majority of Questrade's ownership is with the company's CEO Edward Kholodenko. Along with him, the ownership is hared by the company's co-founders and venture-capital firms.
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Discussion (0)
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