2025 Canada Research Team 

Background 

2025 marks the seventh year of running the Canada Research Team survey’s commission-weighted results.  

Selection Criteria 
 

To select the members of the Canada Research Team, Extel solicited opinions of directors of research and investment professionals at asset management firms, and we received responses from 575 individuals at 337 firms. The names of individuals surveyed are kept confidential to ensure their continuing cooperation. 

Participants rated their top firms in each sector and then separately rated individual analysts at those firms to create two distinct rankings for each sector. A numerical score was produced by weighting each vote based on the responding firm’s Canada commissions and the average rating awarded.  This created the Canada Commission-weighted Leader table rankings.

Using those scores, ranks were determined. Firms/Analysts were designated runners -up when their score came within 35 percent of the third-place scores. For the analyst rankings, individuals who switched firms after June 2nd are cited at their previous organizations. Voters must meet strict eligibility requirements, and winners must achieve a minimum vote count. All ballots are subject to review by the Research Operations Group. 

These rankings were compiled by the Research Operations Group: Tucker Ewing, Denise Hoguet, David Racadio, and Amy Tan.