The rating agency said it expects industry consolidation to continue
The details behind the $780-million deal
Trimont Financial Ltd., a subsidiary of the Wawanesa Mutual Insurance Company, has formally closed its purchase of Western Financial Group and Western Life Assurance from Desjardins Group. The $775-million transaction includes the Western brokerage network, Western Financial Group Insurance Solutions and Western Life Assurance. Western’s brokerage network will continue to operate under the Western name […]
Increase could be a turnaround
IA Financial Group grew its assets under administration in 2016, reaching $126.2 billion at the end of the year, up 9% from $115.8 billion at the end of 2015. Reporting its fourth-quarter results for the period ending December 31, 2016, the company said net income for its individual wealth management segment was $120 million for […]
Canaccord Genuity Group’s Canadian wealth management business grew its assets under administration by 32.5% over the past year, the firm says, reaching $12 billion at the end of 2016 as it registered additional assets from new advisory teams. “Assets in our Canadian wealth management business continued to improve, primarily due to the success of our […]
IA’s wealth strategy has been to grow through mergers, having made 25 acquisitions in wealth management since 2000.
IA Financial Group has reached a deal to purchase HollisWealth from Scotiabank, making it one of the largest non-bank wealth management advisory firms in Canada with $75 billion in AUA. Insurer IA Financial and the Bank of Nova Scotia announced the deal on Monday, merging the fourth-largest independent advisor network in Canada with Industrial Alliance. […]
The Advisor Group of properties – Advisor’s Edge, Advisor’s Edge Report, Advisor.ca and the Conseiller brands — has been acquired by Transcontinental Media. Transcontinental also owns Investment Executive and Finance et Investissement. When asked why the purchase made sense, Pierre Marcoux, senior vice-president of business and education at TC Media, pointed to the complementary nature […]
The teams, together with more planned acquisitions, will help grow assets under administration by about $2.5 billion.