MORE COMPETITION FOR DISCOUNT BROKERAGES
By Adnews Staff
Priority Brokerage of Toronto will launch a print and Internet campaign later this month to promote its services. The ad campaign will be created by Ranscombe & Co. of Toronto. The agency won the business after a review in June with "a number" of other agencies. Priority Brokerage is a full-service discount brokerage that will begin operations by the end of September. Priority Brokerage is owned by Porthmeor Securities president and CEO Paul Bates, who is also a former chief at Toronto Dominion Green Line Discount Brokerage. Priority Brokerage will cater to clients with over $20,000 to invest and hopes to have up to 11,000 clients by the end of the year. What sets Priority apart from Green Line is that it will offer some advice such as explaining issues about a certain investment, but it won't tell a client which investment they should make. Priority will have desks for operations, general accounts, derivatives, mutual funds and fixed income, in addition to Internet access.