Investing

CIBC Premium Edge

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  • Jul 24th, 2019 7:15 pm
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[OP]
Deal Addict
Aug 26, 2004
2175 posts
257 upvotes
Toronto

CIBC Premium Edge

I read in a review that CIBC has Premium Edge service for individuals with a minimum amount of assets. Is it just a dedicated line or are there other perks? CIBC is very hush about this as there is nothing online.
20 replies
Deal Fanatic
Jun 3, 2009
5312 posts
1196 upvotes
Montreal
You need to have assets of 1M or more including family members if I recall correctly. You will have a dedicated rep with experience assigned to you so the service standards should be higher.
Deal Guru
Mar 20, 2003
10428 posts
617 upvotes
New-Brunswick
You don't need 1M and the service standards are not higher. Our Imperial services advisor ended up being nothing more than a salesperson heavily pushing the CIBC Mutual funds just like any other bank supplied financial rep. We ended up taking our money to Questrade and going to see a fee for service advisor to escape the bias.
Deal Fanatic
Jun 3, 2009
5312 posts
1196 upvotes
Montreal
Feneant wrote: You don't need 1M and the service standards are not higher. Our Imperial services advisor ended up being nothing more than a salesperson heavily pushing the CIBC Mutual funds just like any other bank supplied financial rep. We ended up taking our money to Questrade and going to see a fee for service advisor to escape the bias.
Imperial Service = VIP among regular retail investors at CIBC
Premium Edge = VIP among self-directed brokerage at CIBC
Sr. Member
Jul 1, 2006
834 posts
667 upvotes
What @cn_habs said is correct. Imperial Service is for banking, Premium Edge is for Investing. For Premium Edge you need $1M+ in investable assets, but those can be spread across family members and accounts.

Premium Edge is a cut above the equivalent plans from most of the big banks in that you are assigned an representative who you can call or email directly. No waiting on a 1-800 number. It has saved me considerable time and frustration when compared with the others (I've had most brokerages over the years). I'm generally able to email either my Premium Edge rep or Imperial Services rep rather than having to phone or go into the branch. They will either phone me back promptly (Premium Edge for orders, I usually hear back within 2 mins of sending the email) or respond via email quickly as well.

The only real downside to the whole thing is that the CIBC investors edge online trading experience is pretty terrible. But I get $4.95 trades, options trading is also similarly inexpensive, and I can easily get service from a real person. Since I don't trade that often, the not-so-great UI is just a nuisance.

CIBC doesn't advertise it anywhere - the only way I found out about it was via a money sense brokerage comparison chart, and I ultimately reached out to them directly to get the ball rolling.
Deal Addict
Oct 7, 2012
1751 posts
470 upvotes
Montreal
sckor wrote: What @cn_habs said is correct. Imperial Service is for banking, Premium Edge is for Investing. For Premium Edge you need $1M+ in investable assets, but those can be spread across family members and accounts.

Premium Edge is a cut above the equivalent plans from most of the big banks in that you are assigned an representative who you can call or email directly. No waiting on a 1-800 number. It has saved me considerable time and frustration when compared with the others (I've had most brokerages over the years). I'm generally able to email either my Premium Edge rep or Imperial Services rep rather than having to phone or go into the branch. They will either phone me back promptly (Premium Edge for orders, I usually hear back within 2 mins of sending the email) or respond via email quickly as well.

The only real downside to the whole thing is that the CIBC investors edge online trading experience is pretty terrible. But I get $4.95 trades, options trading is also similarly inexpensive, and I can easily get service from a real person. Since I don't trade that often, the not-so-great UI is just a nuisance.

CIBC doesn't advertise it anywhere - the only way I found out about it was via a money sense brokerage comparison chart, and I ultimately reached out to them directly to get the ball rolling.

Great FYI!
Is there alink to that comparison chart you mention pls
thanks
Deal Guru
Mar 20, 2003
10428 posts
617 upvotes
New-Brunswick
cn_habs wrote: Imperial Service = VIP among regular retail investors at CIBC
Premium Edge = VIP among self-directed brokerage at CIBC
Thank you for correcting me, I wasn't aware of this but it's interesting to know. So my post was for Imperial service being a waste of time, I don't know about Premium Edge.
Deal Fanatic
Jun 3, 2009
5312 posts
1196 upvotes
Montreal
Feneant wrote: Thank you for correcting me, I wasn't aware of this but it's interesting to know. So my post was for Imperial service being a waste of time, I don't know about Premium Edge.
Imperial is really a hit or miss as it depends on the advisor but MER's on its MF's are among the highest.
Newbie
Nov 17, 2006
86 posts
85 upvotes
sckor wrote: Premium Edge is a cut above the equivalent plans from most of the big banks in that you are assigned an representative who you can call or email directly. No waiting on a 1-800 number. It has saved me considerable time and frustration when compared with the others (I've had most brokerages over the years). I'm generally able to email either my Premium Edge rep or Imperial Services rep rather than having to phone or go into the branch. They will either phone me back promptly (Premium Edge for orders, I usually hear back within 2 mins of sending the email) or respond via email quickly as well.

The only real downside to the whole thing is that the CIBC investors edge online trading experience is pretty terrible. But I get $4.95 trades, options trading is also similarly inexpensive, and I can easily get service from a real person. Since I don't trade that often, the not-so-great UI is just a nuisance.
This mostly mirrors my experience except the Imperial Service advisors I've interacted with have been unresponsive, unhelpful or messed up or delayed placing orders. Here's a recent example: I emailed my CIBC IS advisor a question and received an auto-reply that the branch was being renovated and he would have limited access to email as a result. :rolleyes:

I have had very good experience with CIBC Investor's Edge telephone banking. They have short wait times and have been knowledgeable and helpful. Agreed that the IE website is horrible to interact with, but if you're an infrequent trader and don't care about having effective or meaningful visualization or reporting on your investments then it's OK.
Deal Addict
Apr 27, 2015
2469 posts
1053 upvotes
Feneant wrote: Thank you for correcting me, I wasn't aware of this but it's interesting to know. So my post was for Imperial service being a waste of time, I don't know about Premium Edge.
Imperial Services it's a waste of time. They charge you about $50 per trade and absolutely not knowledgeable. It's for seniors whom easily convince to buy Mutual Funds.

Premium Edge - it's for clients who has 1M+ in Investor Edge...you get personal dedicated service (for example, they can help you with ACB calcs) + Level 2 quotes.

After transfering RSU Cash account from USB, we got about 950K. Gonna call tomorrow to ask for Premium Edge service.
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Deal Addict
Apr 27, 2015
2469 posts
1053 upvotes
OK, just Premium Edge account. Tomorrow they gonna set for me Level 2 quotes. I got pretty knowledgeable dedicated rep and phone number for all my inquires. Already called in, they answer immediately and provide a very efficient service.
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Newbie
User avatar
Feb 27, 2011
37 posts
15 upvotes
Ontraio
Your dedicated agent can also provide you with enhanced performance reporting as well. Mine assisted me with a T5008 issue I had as well around a company share buyout that was messed up; not sure I would have been able to figure it out otherwise.
Deal Addict
Apr 27, 2015
2469 posts
1053 upvotes
CdnMobi wrote: Your dedicated agent can also provide you with enhanced performance reporting as well. Mine assisted me with a T5008 issue I had as well around a company share buyout that was messed up; not sure I would have been able to figure it out otherwise.
They offer:
Customized reporting solutions tailored to meet your portfolio management and overall investment needs.
Access to proprietary investment products and new issues.
Industry-leading research and market insights.
MarketLens, a high performance, real-time market data streaming service.
Invitations to exclusive client events.
A dedicated Premium Edge toll-free trading and service line.
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Deal Addict
User avatar
Feb 1, 2006
4148 posts
1428 upvotes
Ontario
gibor365365 wrote: They offer:
Customized reporting solutions tailored to meet your portfolio management and overall investment needs.
Access to proprietary investment products and new issues.
Industry-leading research and market insights.
MarketLens, a high performance, real-time market data streaming service.
Invitations to exclusive client events.
A dedicated Premium Edge toll-free trading and service line.
No discount on commissions? I thought I read somewhere Premium Edge gets $4.95 vs $6.95 for everyone else.
Cards:HSBC WE MC 1.5%/3% travel 0 FX MC acceptance 31 day med AF $49
CTC WE MC 3% grocery, 3.54% CTC, RA, billpay, AF $0
Bank: Alterna (0.9%, no fees)
Broker: IB (Foreign stocks/low comm/low margin rates)
Deal Addict
Apr 27, 2015
2469 posts
1053 upvotes
minimalist wrote: No discount on commissions? I thought I read somewhere Premium Edge gets $4.95 vs $6.95 for everyone else.
I pay $4.95, but for different reason :)
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Sr. Member
Jul 1, 2006
834 posts
667 upvotes
minimalist wrote: No discount on commissions? I thought I read somewhere Premium Edge gets $4.95 vs $6.95 for everyone else.
Ha - late responding to an old post...

FWIW, I negotiated $4.95 trades when I was considering whether to sign up for Premium Edge. I am not an active trader by any stretch.
Deal Addict
Apr 13, 2006
1120 posts
139 upvotes
Mississauga
If anyone is still looking for this, feel free to reach out. This amount is also lowered for MDs.

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