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Anyone used Credential Direct before?

11266 Views 6 Replies 5 Participants Last post by  Robillard
Just doing some more research...

Anyone used Credential Direct before, or have any feedback about it?
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I used to work for Credential (on a temporary contract 2 years ago). My general impression of the Credential Direct personnel, specifically the people taking the calls from investors, was that they were smart, competent and fairly well managed. Of course, I wasn't an account holder, so I can't really comment on the service on the client end.

Credential Direct piggy-backs of of the same back office platform and personnel as Credential Securities. While I found most of the back office departments to competent, Credential has had a reputation for employing lots of temporary contract workers. This is not entirely bad, since it tends to keep costs down, but I found the transfers department had the most turnover of contract workers by far. Transfers is a pretty low-prestige part of a brokerage's back office that involves copious amounts of paperwork. So next time you switch brokers, be kind by being patient as it is a long tortuous process. The broker you are leaving has no incentive to make the process seamless. Incidentally I didn't work in transfers; I was processing brokerage deposits and withdrawals.
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