Desjardins

Overview

Desjardins Securities, based in Canada, operates as a financial institution offering a range of services including investment advice, wealth management, business services, discretionary management, and other Desjardins services. While not regulated as a broker, it provides various account types such as Cash Account, Margin Account, Short Margin Account, Options Margin Account, and Registered Accounts. The company prioritizes customer support, offering dedicated channels for comments, suggestions, and complaints, with access to wealth managers and branches for inquiries. Support for accessing the secure site is available during specified hours.

Regulation

Desjardins is not regulated as a broker. Instead, it operates primarily as a financial institution providing banking, insurance, and investment services. As such, its activities are overseen by relevant regulatory bodies governing each sector in which it operates.

Pros and Cons

Desjardins Securities offers a wide range of financial services and investment products, emphasizing personalized service and expertise. While it provides comprehensive solutions and dedicated customer support, it's important to note that it's not regulated as a broker and may have limitations such as a fixed fee structure in certain programs and restricted online support hours.

Services

Desjardins offers a comprehensive range of financial services tailored to meet various needs:

Investment Advice:

• Fee-Based Advisory Services: Desjardins Securities Elite Program offers simplified financial management with a flat fee based on asset value, providing tax advantages and potential fee reductions as assets grow.

• Commission-Based Advisory Services: For those making fewer trades, this option offers advice from investment experts with fees based on individual transactions.

Wealth Management:

Services include investment advice, financial planning, estate planning, and insurance services provided through Desjardins Securities Financial Services and other Desjardins entities.

Offers expertise in financial planning, estate planning, insurance, philanthropy, and wealth transfer.

Business Services:

• Investment Solutions: Tailored strategies for business asset management, including financial planning, estate planning, and insurance.

• Corporate Financing: Support for business growth through various financing options, mergers, acquisitions, and real estate transactions.

• Business Transfer: Assistance in succession planning and business transfer, ensuring stability and continuity.

• Individual Retirement Plans: Offering personalized pension plans with significant tax benefits for business owners and senior executives.

• Group Registered Retirement Plans: Assisting businesses in selecting retirement savings plans to retain employees and enhance their financial security.

Discretionary Management:

Portfolio management services allow clients to delegate investment decisions to experienced professionals, optimizing portfolio potential while minimizing time investment.

Other Desjardins Services:

Access to a wide range of services offered by Desjardins caisses and subsidiaries, including insurance, mortgages, financing for renovations or equipment, and medical coverage, among others.

Account Types

Desjardins offers a variety of accounts tailored to meet diverse financial needs:

1. Cash Account:

1. Allows buying or selling securities with deposited funds.

2. Margin Account:

1. Enables buying or selling securities on credit, with interest charged on the loan.

3. Short Margin Account:

1. Permits selling securities not owned, with borrowing facilitated by Desjardins Securities.

4. Options Margin Account:

1. Facilitates trading options, offering various transaction types like buying puts and calls, spread trading, etc.

5. Registered Accounts:

1. LIF (Life Income Fund): Similar to RRIF but extends from LIRA, offering controlled withdrawals post-retirement.

2. RRIF (Registered Retirement Income Fund): Allows controlled asset withdrawals in retirement, extending RRSP benefits.

3. RESP (Registered Education Savings Plan): Facilitates saving for post-secondary education with government incentives.

4. TFSA (Tax-Free Savings Account): Offers tax-free withdrawals and investment income, suitable for surplus cash after maximizing RRSP contributions.

5. LIRA (Locked-in Retirement Account): Holds transferred pension funds, offering tax-sheltered management until retirement age.

6. RRSP (Registered Retirement Savings Plan): Provides tax deductions for contributions, tax-sheltered investment income, and retirement savings.

7. Tax-advantaged accounts regulated under the Income Tax Act:



6. Range of Products:

1. Options trading and life insurance are also available.

2. Equities, bonds, mutual funds, ETFs, index funds, structured products, etc.

3. Offers a diverse range of investment products suited to evolving investor profiles:

Overall, Desjardins provides a comprehensive suite of accounts and investment products designed to help individuals achieve their financial goals while considering tax advantages and risk management strategies.

Customer Support

Desjardins Securities provides comprehensive customer support to address various inquiries and concerns:

1. Head Office Contact:

1. Telephone: 514-987-1749 | Toll-free: 1-888-987-1749

2. Location: 1170 Peel Street, Suite 300, Montreal, Quebec H3B 0A9

2. Comments, Suggestions, or Complaints:

1. Information on filing complaints is available for dissatisfied customers.

2. Customers can directly contact their wealth manager or branch manager to address any comments, suggestions, or complaints.

3. Wealth Managers and Branches:

1. Customers can contact wealth managers or visit branches to learn more about available services.

4. Support:

1. For AccèsD-related matters not related to Desjardins Securities accounts, customers can call 1-800-CAISSES or visit the Desjardins website.

2. First-time login assistance requires contacting the wealth manager to confirm identity and receive a temporary password.

3. Assistance for accessing the secure site is available by calling 1-866-557-1414, Monday to Friday between 8:30 a.m. and 5:00 p.m.

Desjardins Securities prioritizes customer satisfaction by offering direct communication channels with wealth managers and branch managers, as well as dedicated support for online account access. Additionally, resources are provided for addressing complaints or providing feedback to enhance customer experience.

Conclusion

In conclusion, Desjardins Securities stands out as a comprehensive financial institution, offering a wide array of services tailored to meet the diverse needs of individuals and businesses. From investment advice and wealth management to business services and various account types, Desjardins aims to provide holistic financial solutions while emphasizing personalized service and expertise. With dedicated customer support channels and a commitment to customer satisfaction, Desjardins prioritizes ensuring clients' financial well-being and success.

FAQs

Q: How can I open a new account with Desjardins Securities？

A: To open an account, you can visit one of our branches or contact a wealth manager for personalized assistance.

Q: What are the benefits of the Desjardins Securities Elite Program？

A: The Elite Program offers simplified financial management with a flat fee based on asset value, providing tax advantages and potential fee reductions as assets grow.

Q: Can I access my account online？

A: Yes, you can access your account securely online. For assistance with accessing the secure site, please contact our support team.

Q: How do I file a complaint？

A: If you have any comments, suggestions, or complaints, you can directly contact your wealth manager or branch manager. Information on filing complaints is also available for dissatisfied customers.

Q: What types of investment products does Desjardins offer？

A: Desjardins offers a diverse range of investment products, including equities, bonds, mutual funds, ETFs, index funds, structured products, options trading, and life insurance.

Risk Warning

Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities. Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.