What’s new at National Bank Direct Brokerage

15 October 2019 by National Bank
What’s new at nbdb

From the outset of my career, I’ve been a kind of generalist expert. In order to push things forward, I learned to ask questions that shake up the status quo. And that’s what I’ve continued to do since accepting the presidency at NBDB.

I think it’s important for big banks to question themselves, to learn and to listen carefully to customers’ needs, in order to innovate, progress and evolve. That said, I also believe that our foundation is part of our strength. Big institutions need to build on the experience they’ve acquired over the years. So, should we shake up the status quo? Yes, but without having to then start over from scratch. Why work from a blank slate when you can leverage the assets already in place? That’s what we’ve been focused on in recent months.

Becoming even more agile

Five years ago, online trading platforms weren’t as popular as they are today. They’re now commonplace. On the other hand, the quantity of information has grown exponentially, which complicates navigation. We’ve noticed that our customers only use around 10 percent of the functionalities available and that it would be in our best interest to make the appropriate modifications to improve the user experience. So that’s what we did, overhauling our online transactional platform. The site is now more intuitive, both for new and seasoned investors and for seasoned users. With just a few clicks, users can now select the appropriate tools and access the relevant information they need.

Keeping young investors in mind

Millennials like having both hands on the wheel and feeling in complete control. To facilitate this, we now offer young investors an experience that is a better fit with their lifestyle and their understanding of self-directed investing. We’re also supporting them with video tutorials on our YouTube channel, webinars, and validation and decision-making tools, as well as research reports. Fully equipped, they’ll be better able to make informed, independent decisions. To top it all off, we’re about to launch new introductory pricing for investors under 30 years of age. By offering 10 free transactions per year and an exclusive commission of $4.95 per transaction, online trading has never been more accessible!

Fulfilling the needs of active investors

Honestly, prior to this evolution, I don’t believe we were the best option for active investors. But now we definitely are! For one, we’ve integrated Market-Q into our new platform. We also offer the best trading pricing among Canadian financial institutions for this type of investor. At $0.95 per transaction, we’ve become unbeatable!

Always evolving

In constant evolution, these changes have been added to the assets we already had in place, specifically our exceptional customer service and Investcube, our automatic rebalancing ETF portfolios, the new version of which just launched this year. We will, of course, continue to offer Canadian and American ETFs for $0. By combining new technology with personalized services, we can now give our customers an enhanced experience. In the coming months, we’ll continue to make improvements and add new offerings. I believe we are proof that big institutions can still distinguish themselves from the competition in the online trading sector.

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