Top 5 Stockbrokers in Ottawa
One day, my friend and I were just sitting around and wondering how we could maximize the potential of our savings. It was then that we thought of investing our money into something rather than keeping it stagnant in the bank.
Although hesitant because of the risks involved, we decided to give it a shot and looked for people who could help. Our search was fruitful and this helped us come up with this list of the best stockbrokers around the city of Ottawa!
But hiring an expert in the field comes with a price. That’s why it is important to first cover the possible expenses when getting one.
How much do stockbrokers charge in Ottawa?
Stockbrokers’ fees (also known as brokerage fees) vary according to the firm, type of broker, and conditions. They are calculated as a percentage of the transaction, a flat charge, or a combination of the two.
Be on the lookout for how stockbrokers may demand payment for their services. So, here is a table of different fees with their estimated costs to give you a glimpse of what lies ahead.
How We Picked the Top Stockbrokers in Ottawa
To get the best ones in the field, we used the following criteria to narrow down our choices during the selection process:
1. PWL Capital, Inc.
| Criteria | Rating |
| Professionalism | ★★★★★ (5/5) |
| Transparency | ★★★★☆ (4/5) |
| Rates | ★★★★☆ (4/5) |
| Reputation | ★★★★★ (5/5) |
PWL Capital, Inc. has been operational for more than two decades. Over the years, it has become a renowned company that offers comprehensive wealth management services that extend from financial planning to brokerage services.
It is also a member of various organizations, such as the Investment Industry Regulatory Organization of Canada (IIROC) and the Centre for Fiduciary Excellence (CEFEX), which establishes the company’s trustworthiness.
One thing we like is that it employs competent individuals with relevant certifications like Certified Financial Planner (CFP). What’s more is that its people are divided into advisor teams with varying expertise to help you achieve your financial goals.
We also felt more confident that Karine Deslandes, the Chief Compliance Officer (CCO), exercises tight control over all business activities. She ensures that all regulatory rules are respected and conducts quarterly audits to keep everything in place.
Another thing that caught our attention is how well the company safeguards clients’ information. Using the highest level of external and internal controls, it makes sure that client confidentiality is respected and that all portfolios are monitored at all times.
It is just sad, though, that it is unavailable on weekends, so you might want to remember that if you intend to visit. Since it has built a good reputation, it is popular with many, and the slots get easily filled up.
Pros
- More than 20 years in the business
- A member of relevant organizations
- A team of certified advisors
- Superb external and internal controls
Cons
- Slots get easily filled up
- Closed on weekends
Customer Reviews
A tremendous experience
“Since we joined PWL last year, we have had a tremendous experience. The measured, thoughtful, research-based approach to managing our portfolio has instilled confidence in how our ongoing and long-term financial health is being managed. The level of service, genuine care, attention to detail, and client-centered management have been outstanding and a refreshing step up from our previous management team. Most impressive is the complete transparency in the relationship- no hidden fees, no surprises. We are most grateful!” — Marius Felix, Google Reviews
Genuine and committed staff
“We met twice to discuss investing. Given our past experiences, Nancy kindly recommended that the program might not fit us. This is at a loss of a sale to them. These people are genuine and committed to working for their client’s best interests, not their own. Our interactions were respectful and honest. I would not hesitate to recommend them to others – based on our positive experience.” — Jill Graves, Google Reviews
2. Exponent Investment Management
| Criteria | Ratings |
| Professionalism | ★★★★★ (5/5) |
| Transparency | ★★★★★ (5/5) |
| Rates | ★★★★★ (5/5) |
| Reputation | ★★★★☆ (4/5) |
Established in 2011, Exponent Investment Management is an independent wealth management firm that helps its clients develop strategies to achieve their financial goals.
We like that it builds diversified portfolios to reduce volatility while providing consistent long-term returns. Among the services it offers include financial planning, investment and brokerage management, and portfolio review.
We also like that everything begins with an introductory meeting that lets you outline your dreams, goals, and what you want to accomplish. This is crucial as it will help the advisors align goals with personalized financial plans to optimize results.
The best part is that all plans will be monitored by certified portfolio managers with decades of experience. Whether your situation has changed or remained the same, regular checkups will be conducted to ensure that everything stays on track.
It’s also great to know that fees are transparent, so you’ll know what you are paying for. Its transparency further extends to financial planning and projections, which lets you see what you’re investing in.
But if you’re not too willing to take risks, you may also opt for its EIM Partners Fund to further minimize the amount of investment while reducing risks.
Unfortunately, it is unavailable on weekends. Consultation time is also limited to 15 minutes, which might not be enough for some.
Nevertheless, with its great people, we believe that it is worth the shot.
Pros
- More than 10 years in the business
- Certified, experienced advisors
- Service rates provided on the website
Cons
- Limited consultation time
- Closed on weekends
Customer Reviews
Incredible team
“Mathew Hall has a wealth of investment knowledge and he combines that with a one of a kind client focused approach to advising. I have referred many of my clients to the incredible team at Exponent and will continue to do so in the future.” — Paul Stevenson, Google Reviews
These guys are great
“These guys are great. Benoit and the Ex-ponent team actually focus on finding the best investments rather than just selling mutual funds. Well worth talking to!” — Robert Benell, Google Reviews
3. Forest Financial Planning
| Criteria | Ratings |
| Professionalism | ★★★★★ (5/5) |
| Transparency | ★★★★★ (5/5) |
| Rates | ★★★★☆ (4/5) |
| Reputation | ★★★★★ (5/5) |
If you’re into paying stockbrokers on an hourly basis, Forest Financial Planning is the right place for you. Before working on anything, it will first provide a firm quote and will only charge based on the contract.
While a flat rate of $210 per hour might seem a nice deal for some, others think it will be pricier, especially if you’ll be needing financial services for longer terms.
It offers services that extend from financial planning for both individuals and businesses to financial reviews and pre-retirement plans. But if you already have a plan and just need some professional, unbiased opinion, it can also provide some for you.
It has Alex, who has over a decade of education and experience in the finance industry. He is also a Certified Financial Planner (CFP) and Chartered Financial Analyst (CFA) with an MBA.
Unfortunately, no information about its other advisors was provided.
One of the things we like about Forest Financial Planning is that financial plans are tailored to your situation and presented in a clear, well-detailed manner. The best part is that there are no net worth or income requirements to avail of the services.
We also like that it strives to empower its clients with financial education, which is ideal for everyone. Virtual personal finance courses are offered to help you take control of your finances with better confidence.
Although its office is in a good, convenient location, finding a parking space can come as a challenge. It is closed on weekends, so you might want to remember that, too.
Pros
- Transparent compensation structure
- Tailored financial plans
- Financial education
- Convenient location
Cons
- No parking space available
- Closed on weekends
Customer Reviews
The right person for the job
“Without hesitation I highly recommend the financial planning services of Alex and Forest Financial Planning. When I started looking for an alternative to the traditional broker-client relationship and needed unbiased, sound advice, and services, I spent many hours researching firms and financial planners/specialists across Canada. After meeting and speaking with Alex, I knew he was the right person for the job. He is a pleasure to work with, a great communicator, and definitely an expert in his field. I look forward to working with Alex for many years to come and will recommend him to all my friends and family!” — Nicole Dayle, Google Reviews
Flexible, responsive, and tailored services
“I had a great experience with Forest Financial. I knew I wanted an alternative to traditional broker/planner services but also wanted professional advice. This was just what I was looking for. Alex was flexible and responsive and tailored his services to what I needed. I’ll be seeking out his services again in the future.” — Catherine J.W., Google Reviews
4. Potvin Financial Services
| Criteria | Ratings |
| Professionalism | ★★★★★ (5/5) |
| Transparency | ★★★★★ (5/5) |
| Rates | ★★★★☆ (4/5) |
| Reputation | ★★★★★ (5/5) |
We like Potvin Financial Services for several reasons. One of these is that it is BBB accredited with an A+ rating.
It is also a member of relevant organizations like the Certified Professional Consultant on Aging (CPCA) and the Canadian Federation of Independent Business (CFIB).
We also like that it is led by Kevin Potvin, a financial advisor with more than 20 years of experience in financial services. It’s great how he recommends risk-based, diversified, and actively managed portfolio investment solutions to his clients.
What’s more is that he will continuously provide updates and conduct regular performance reviews to ensure that everything is going according to plan.
The best part is that he offers flexible fee options. Depending on your needs, you may opt for a fee-based or commission-based service.
Apart from providing customized plans according to your financial goals and risk tolerance, we also appreciate that Potvin Financial Services has a network of tax/accounting, mortgage, and legal specialists to make things more convenient.
Also worth noting is the complimentary consultation it provides.
It’s just a bummer, though, that it is closed on weekends. It might also need to improve its responsiveness to make sure that all inquiries are addressed accordingly.
All in all, if you’re looking for someone who could help you with brokerage services, insurance planning, and retirement income planning, Potvin Financial Services is a good option.
Pros
- BBB accredited with an A+ rating
- Member of relevant organizations
- Flexible fee options
- Complimentary consultation
Cons
- Communication can be improved
- Closed on weekends
Customer Reviews
Ten out of ten stars
“I have been a customer of Potvin Financial Services since it was headed by Kevin’s father Rick in 1974. I have always received the best service I believe is possible. Kevin has done several Zoom conferences with our family in the past year and even managed to make his in person visits to our home in Vineland Ontario (near St. Catharines, Ontario) despite Covid and poor weather. I would say that I am a somewhat conservative investor and Kevin has provided excellent service with this in mind. He is always contacting us regarding changing our accounts when he deems it to be prudent or when our family members, our benefactors, information needs updating. Thanks Kevin. Ten out of ten stars!!” — Colin Wortley, Google Reviews
A 5 star company for sure
“I have worked with Kevin at Potvin Financial for many years now. Everyone I have worked with is helpful, considerate and very responsive. Kevin is amazing to work with, he always makes time for questions and in my experience he treats every client like they are most important in that moment. I have really appreciated the work that Kevin has done, and I never feel like I cannot reach out if I have questions or concerns. A 5 star company for sure!” — Kristy Drain, Google Reviews
5. Kelvin Chong & Associates
| Criteria | Rating |
| Professionalism | ★★★★★ (5/5) |
| Transparency | ★★★★☆ (4/5) |
| Rates | ★★★★☆ (4/5) |
| Reputation | ★★★★★ (5/5) |
Kelvin Chong & Associates, located on the second level of PWL Capital, has over five decades of combined experience in the insurance brokerage and agent sector. Its value proposition focuses on serving and supporting clients with life insurance needs.
Among the things we like about it is that it delivers insurance-based solutions to help reduce risks. The best part is that everything begins with a thorough assessment, which is then followed by periodical reviews of the portfolio to ensure that things are in place.
It also offers no-obligation consultations that can be conducted via telephone or in person.
We also appreciate that it treats privacy with utmost importance. Any information you share will be treated with confidentiality and will only be used to assess your situation and provide you with the best viable solutions.
It’s just too bad, though, that we didn’t find portfolios of transparency and rates when we checked its website. It might also need to work more on its communication, as it had issues with this in the past.
Despite these, with an A+ BBB rating, we know that its competent people can handle things accordingly. Showcasing great annual reports, accomplishments, and breakthroughs, we know that Kelvin Chong & Associates is a good choice.
Pros
- BBB accredited with an A+ rating
- 50 years combined experience in business
- Insurance-based solutions
- No-obligation consultations
Cons
- Miscommunications issues in the past
- Closed on weekends
Customer Reviews
Professional staff
“Kelvin and his staff are professional and provide timely advice and guidance. There is no sales pressure and no high commission products. Kelvin acts like a fiduciary and works in good faith about the interests of his clients. Kelvin helped my wife and me, my brother and my sister-in-law, invest in the right Term Life Insurance (AD&D + Critical Illness). We will reach out to him for future needs as well as we will be happy to refer him to our family and friends.” — Nik, Google Reviews
We would not hesitate to recommend
“Our business has had the pleasure of working with Kelvin Chong of Kelvin Chong & Associates for many years. We have been more than satisfied with Kelvin – he is pleasant to deal with, extremely professional, attentive to our needs, and very helpful. Kelvin was instrumental in establishing a benefits package for our employees. We would not hesitate to recommend Kelvin Chong & Associates to anyone requiring insurance.” — Jill Fridgen, Google Reviews
FAQs about Stockbrokers
That brings us to the end of our list of the top stockbrokers in Ottawa! We hope that you find the one that would best serve your financial goals!
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