Why work with a Deposit Broker?
RDBA Deposit Brokers maximize your return by accessing a broad range of deposit issuers for the best rates.

They recommend deposits that are insured by the Canada Deposit Insurance Corporation or by a provincial deposit insurer.

RDBA Deposit Broker members-in-good-standing meet the following standards:

    • A criminal background check at the time of membership and every four years thereafter
    • Onboarding training and testing to ensure knowledge of the deposit business
    • Attestation to adherence with RDBA’s Rules and Regulations, By-laws, and Code of Ethics
    • Annual completion of the Broker Compliance Questionnaire, an attestation to adherence with RDBA guidelines for premises, privacy, insurance, record-keeping, and business continuity
    • Training and testing on the Code of Conduct for the Delivery of Banking Services to Seniors that has been designed for Deposit Brokers
    • Attestation to compliance with FCAC’s Guideline on Appropriate Products and Services for Banks and Authorized Foreign Banks
    • Privacy training and testing in PIPEDA, BC PIPA, PIPA Alberta, and the Quebec Privacy Act

RDBA Deposit Broker members are authorized by RDBA Financial Institution members to offer deposit products to Canadian Investors.


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Frank Miemiec MBA, CFP, CLU

Vice-President, Page and Associates Ltd.
Financial Planner, Page and Associates
Worldsource Financial Management Inc.

The RDBA is in a unique position to help develop standards for the Deposit Broker channel because it brings together Brokers and the Financial Institutions whose products they distribute. By working together, the two groups can formulate standardized business processes that ensure compliance with regulatory requirements and enhanced efficiency for Brokers.

The RDBA performs a consumer-facing public relations function by promoting the Brokers’ value proposition and maintaining a website that helps consumers find the Brokers nearest to them.

Bruno M. Scanga

Insurance, Investment & Financial Advisor
HGI and Company

I have been a member of RDBA since 2010. Through this time I have enjoyed the support that RDBA offers to individual deposit brokers. As an organization, the effort the RDBA have put forth to shape regulatory policies, raise the educational standards of its members through industry training like annual anti-money laundering and anti-terrorist financing training is very much welcomed. With the RDBA’s continued support, advisors can focus on working with their clients and providing service to ensure their clients’ needs are met.

Keep up the good work.

David Newman

Chief Operating Officer
Fiscal Agents Ltd.

The RDBA belongs to its members to the benefit of the conservative investor. It establishes and reinforces educational and professional standards that represent excellence and commitment.

The RDBA provides a forum in which like minded, consumer-focused professionals can exchange ideas and refine best practices. It advocates for the consumer and enhances public awareness of the deposit industry.

Jeffrey Gregory

Certified Financial Planner
Desjardins Financial Security Independent Network

I have been a member for a few years and would like more of the advisors to be properly registered going forward. With a heavy focus by regulators on protecting the interest of seniors, the RDBA organization is the best institution for advisors to provide comfort and confidence in this industry.

J.G. (Gord) Mooney

Past President
General Bank of Canada

The RDBA has in place a set of professional standards to help ensure that we can demonstrate compliance with all of the regulatory requirements of operating in the deposit-taking world. The fact that so many Financial Institutions can work together with independent Deposit Brokers demonstrates a level of collaboration and cooperation that does not exist anywhere else in the Canadian financial services space.

The RDBA remains an integral part of General Bank’s deposit gathering strategy, as we move forward with emerging trends in the industry.

Bill Ritchie

Monarch Wealth GIC Services Inc./GICdirect

GICdirect has been a member of the RDBA since 1999 and Monarch Wealth has been a member since 1989. The RDBA continues to increase investor awareness of Deposit Brokers and their services, helps to shape regulatory policies and initiatives, raises educational standards of its members through industry training and provides annual anti-money laundering and anti-terrorist financing training and testing. The RDBA is also helping to simplify the deposit business through the development and maintenance of standardized regulatory compliant forms and procedures.

Joseph Cargnello

Account Manager, Deposit Services
Community Trust Company

Community Trust Company is a long-time member and supporter of the RDBA. I see them as the backbone of the industry. They provide AML training, testing, forms, and representation at events which are just some of the ways they promote and elevate the status of the deposit taking industry. Their role strengthens the relationship between brokers and financial institutions and should give customers confidence they have made the right choice when working with their members.

Financial Institution & Deposit Broker News & Events

2023 Portfolio+ Open

Join Portfolio+ for their annual charity golf tournament on Tuesday, September 19, 2023 in support of Kids Help Phone. The 2023 Portfolio+ Open is being...

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