Stacey Petersen talks to WP about why the shift is only the beginning of a broader evolution in investor experience
The rapid shift toward commission free investing is redefining what Canadian investors expect from their online brokerages.
That’s according to Stacey Petersen, SVP and head of Direct Investing at Aviso, parent company of Qtrade which recently announced $0 commission trading and the elimination of quarterly administration fees for all new and existing clients.
It’s the first major announcement since Petersen’s appointment in April, after 25 years with RBC, and she’s been speaking with WP about the decision to cut fees, arguing that affordability is no longer a differentiator, while experience matters more.
“When a platform like Qtrade, with its full suite of features and product shelf, moves to commission free, I think it shows investors that they can expect more from their brokerage,” Petersen says. “As zero commission becomes a baseline expectation, we’ll see investors’ attention shifting to other differentiators, like innovative tools to help them make better investing decisions, and client service that is there for them when they need it.”
Zero commission has also opened the doors to new investors, especially younger ones who are keen to explore investing and turn to social media and finfluencers on YouTube, TikTok, and Reddit for advice.
“I think there’s a great value in community-based learning and I love that today’s investors can interact with each other, ask questions and share ideas,” she says. “Investing knowledge is for everyone and it shouldn’t be exclusive. But I also recognize that some of this abundance of information isn’t tailored enough for everyone, and being able to recognize which advice is right for you is important. Often investors choose to validate their ideas on a platform with expert sources and research tools.”
Recognizing the value that strong educational content can deliver, Qtrade is providing less experienced investors with useful information. But Petersen says competition from low-cost platforms doesn’t push traditional advisors out, it pushes them to emphasize what only they can offer.
“These two styles of investing can be very complementary, and many investors choose to use both; it doesn’t have to be an either/or decision,” she explains, adding that low-cost DIY platforms encourage advisors “to focus on what they do best: helping investors craft holistic, personalized financial plans addressing factors that make investing more complex, like tax efficiency, estate considerations, business ownership, and risk mitigation.”
As information becomes more accessible, Petersen sees investors increasingly looking for flexible support.
“Many people still want occasional professional advice,” she says, which is pushing advisors and institutions toward models that are “less transactional and more about adding value and goals-based advice.”
But how can platforms balance accessibility with maintaining sustainable business models as fees decline?
“Diversification is key. By keeping our pricing transparent and investing in our scalable digital infrastructure, we can ensure accessibility and long-term stability,” she says. “Commission-free trades are only one piece of the picture, and increased competition in the industry can be very beneficial to investors.”
For Petersen, technology is central to making investing more inclusive.
“Technology plays a huge role!” she says. “We follow a rigorous client-centred design process to map client journeys and identify opportunities to improve client experiences. Technology enables Qtrade to offer services that are intuitive and easy to use.”
Asked what’s coming next in accessibility and transparency, Petersen says personalization is an exciting frontier, with the potential of technology and data integration to provide “personalized information reflecting [investor] goals, interests and investing styles, where and when they need it.”
Meanwhile, as affordability becomes standard, Petersen expects expectations to shift.
“Across the industry, with affordable trades becoming a baseline expectation, attention will shift to other values like exceptional client service, quality trade execution, innovative features and a strong focus on creating the best user experience possible.”
