The best research provider in the Great White North is RBC Capital Markets, as determined by Institutional Investor's inaugural All-Canada Research Team.

RBC edged out the competition to take the No. 1 spot in the first annual ranking of Canada’s top equity research analysts and firms. Directors of research and heads of investment at institutions with major securities holdings in Canada rated the top firms across nine market sectors. Votes were weighted based on how much each respondent spends on equity commissions.

Under this commission-weighted methodology, RBC captured nine total team positions. BMO Capital Markets placed second with eight positions, followed by Scotiabank with seven. CIBC World Markets took fourth place with five team positions.

Respondents to the All-Canada Research Team survey included more than 330 investment professionals at 237 institutions managing an estimated $350 billion in Canadian equity assets. They were asked to rate their top firms in each sector and then separately rate individual analysts.

In addition to the main leaderboards weighted by equity commissions, II also produced two rankings in which voters’ responses were weighted by their level of assets under management.