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Ratehub.ca Advertises a Broker
November 21, 2019
5:25 am
Nehpets
Ontario
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While checking the usual GIC comparison listings this morning, I noticed that Ratehub.ca included among its listings of FI's offering GIC's a broker network GIC Direct.

This is the first time I have seen one of the usual Canadian GIC listing sites include a GIC rate, albeit lower than many other FI's currently offer, from a GIC broker.

Do you think this listing might be construed as a conflict of interests?

There is no apparent disclosure as to the relationship of Ratehub with GIC Direct?

Stephen

November 21, 2019
11:52 am
Doug
British Columbia, Canada
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Stephen, I personally strong avoid RateHub.ca including its MoneySense personal finance blog after having acquired the trademark, domain name, and a perpetual license to past magazine content from Rogers Media in the past year. There was a related controversy with RateHub.ca that led to a split between the two co-founders, who worked for different mortgage brokerage firms, with the current owner taking on a partnership with another mortgage brokerage firm.

The whole thing is rife with controversy.

Same with the HowToSaveMoney.ca spammy personal finance blog; it's littered with editorially-conflicted paid posts, ads, and the like. Peter does receive a commission from "cashback.highinterestsavings.ca," but I'm comfortable with that it in that it's on a different subdomain. My only suggestion to Peter is on the "Cash Back Promos" section of the "Promos" page on http://www.highinterestsavings.ca would be to add a small text "sponsored listing" to the right of the applicable "cashback.highinterestsavings.ca promo link.

Cheers,
Doug

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