CWB Trust Services, a wholly-owned subsidiary of CWB Financial Group, has been appointed Registered Plans Trustee for Questrade, the Canadian online brokerage. The appointment will be effective from the spring of 2022.
Under the agreement, CWB Trust Services will act as a participating trustee for Questrade’s registered plans.
CWB Trust Services provides fiduciary expertise and acts as trustee for more than 1.5 million registered plan accounts, with assets exceeding US$90 billion in its registered plan trust division.
It also administers over $14 billion in custody assets through its Asset Servicing Group.
Bjorn Frohnsdorf, President of CWB Trust Services, said, “We are delighted with our new relationship with Questrade. As we pursue our goal of becoming the best mid-market custodian in Canada, we look forward to bringing our three decades of trust and custodial experience to serve Questrade’s diverse needs.
Edward Kholodenko, President and CEO of Questrade, comments, “CWB Trust Services is an industry leader in registered plan custodial and trust services. Their innovative and customized solutions will help us meet our service requirements, add value and ultimately ensure that our customers become much more successful and financially secure. »