WisdomTree Makes Deals With Canada's Questrade

Looking to grow its footprint in Canada, WisdomTree Investments Inc. (NASDAQ: WETF), the seventh-largest U.S. ETF provider, unveiled deals with Questrade Wealth Management Inc. and Questrade, Inc., one of Canada’s fastest-growing online brokerage firms.

“WisdomTree Canada has agreed to acquire the right to manage QWM’s eight ETFs with approximately CAD $89 million in assets under management, subject to obtaining unitholder and regulatory approvals,” according to a statement issued by WisdomTree.

Though the size of the ETF market there is small relative to the U.S., Canada is one of the fastest-growing ETF markets in the world as highlighted by “assets invested in ETFs/ETPs listed in Canada reaching a new record of US$101 Bn at the end of first half of 2017,” according to ETFGI, a London-based ETF research firm.

As part of the new deals, “WisdomTree Canada will become a premier provider of ETFs available for purchase on a commission-free basis on Questrade’s self-directed platform. This will include all of the WisdomTree Canadian ETFs,” according to the statement. “In addition, both companies will work together to develop and deploy a variety of ETF-focused educational initiatives and resources for Questrade clients, including webinars, newsletters and reports on investing topics.”