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.
- Last Updated:
- Jul 24th, 2019 7:15 pm
Tags:
- SCORE
- CDNPatriot [OP]
- Deal Addict
- Aug 26, 2004
- 2175 posts
- 257 upvotes
- Toronto
20 replies
- rodbarc
- Deal Fanatic
-
- Dec 14, 2010
- 6518 posts
- 8094 upvotes
I believe you are referring to CIBC Imperial Service.
Investors Edge is for DYI Investor. Imperial Service offers an advisor to you.
Rod
Investors Edge is for DYI Investor. Imperial Service offers an advisor to you.
Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:
Investing strategy based on dividend growth
Trading strategy based on Graham principles.
Investing strategy based on dividend growth
Trading strategy based on Graham principles.
- cn_habs
- 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.
- Feneant
- 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.
- cn_habs
- Deal Fanatic
- Jun 3, 2009
- 5312 posts
- 1196 upvotes
- Montreal
Imperial Service = VIP among regular retail investors at CIBCFeneant 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.
Premium Edge = VIP among self-directed brokerage at CIBC
- sckor
- 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.
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.
- gogoblender
- 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
- sckor
- Sr. Member
- Jul 1, 2006
- 834 posts
- 667 upvotes
The chart is here:
https://www.moneysense.ca/canadas-best- ... ison-tool/
Very subtle check-mark next to
but no details about how to qualify or what it offers.Is there an exclusive service for large accounts?
- Feneant
- Deal Guru
- Mar 20, 2003
- 10428 posts
- 617 upvotes
- New-Brunswick
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.
- cn_habs
- Deal Fanatic
- Jun 3, 2009
- 5312 posts
- 1196 upvotes
- Montreal
- slickdealer
- Newbie
- Nov 17, 2006
- 86 posts
- 85 upvotes
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.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.
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.
- ConradS55334
- Newbie
- Jan 17, 2019
- 1 posts
No Imperial Service is different. CIBC Premium Edge exists
- gibor365365
- Deal Addict
- Apr 27, 2015
- 2469 posts
- 1053 upvotes
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.
[removed inappropriate content]
- gibor365365
- 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.
[removed inappropriate content]
- CdnMobi
- Newbie
-
- 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.
- gibor365365
- Deal Addict
- Apr 27, 2015
- 2469 posts
- 1053 upvotes
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.
[removed inappropriate content]
- minimalist
- Deal Addict
-
- Feb 1, 2006
- 4148 posts
- 1428 upvotes
- Ontario
No discount on commissions? I thought I read somewhere Premium Edge gets $4.95 vs $6.95 for everyone else.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.
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)
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)
- gibor365365
- Deal Addict
- Apr 27, 2015
- 2469 posts
- 1053 upvotes
I pay $4.95, but for different reasonminimalist wrote: ↑ No discount on commissions? I thought I read somewhere Premium Edge gets $4.95 vs $6.95 for everyone else.
[removed inappropriate content]
- sckor
- Sr. Member
- Jul 1, 2006
- 834 posts
- 667 upvotes
Ha - late responding to an old post...minimalist wrote: ↑ No discount on commissions? I thought I read somewhere Premium Edge gets $4.95 vs $6.95 for everyone else.
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.
- kiz5
- 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.