IDC Worldsource Insurance Network Inc. Acquires Business of Strategic Brokerage Services LP
30 Novembre 2012 - 10:53PM
Marketwired
Guardian Capital Group Limited (Guardian) (TSX:GCG)(TSX:GCG.A)
announced today that its subsidiary, IDC Worldsource Insurance
Network Inc. (IDCWIN), has purchased the life insurance Managing
General Agency (MGA) business of Strategic Brokerage Services LP
(SBS), an MGA based in Calgary, Alberta. The transaction also
includes the business of the associated firm, SBS West LP, located
in Langley, British Columbia.
The acquisition continues IDCWIN's growth and expansion as one
of Canada's leading MGAs. IDCWIN will join forces with SBS advisors
and employees to strengthen its presence in the Prairies and
British Columbia. Kelly Smith, formerly Vice-President of SBS, has
been appointed Vice-President of Business Development for the
Prairie Region of IDCWIN.
"IDC Worldsource is excited to have the advisors and employees
of SBS join our company", said Paul Brown, the Chairman and CEO of
IDCWIN. "This transaction gives us a strong foothold in Alberta,
with the ability to grow our business throughout Western
Canada."
George Mavroudis, President and CEO of Guardian, said: "We are
pleased that this acquisition in Western Canada further adds to
IDCWIN's national presence, and continues its ability to be a
profitable contributor to Guardian's overall growth
objectives."
The integration of SBS will add $400 Million of segregated fund
assets to IDCWIN, and increase new first year insurance premium to
in excess of $45 Million in 2012.
About Guardian Capital Group Limited
Guardian is a diversified financial services company founded in
1962, and celebrating its 50th year in business. Guardian provides
institutional and private wealth investment management services;
provides financial services to international investors; and
provides services to financial advisors in its national mutual fund
dealer, securities dealer, and managing general agency. Its Common
and Class A shares are listed on The Toronto Stock Exchange.
About IDC Worldsource Insurance Network Inc.
IDCWIN is a leading national managing general agency and part of
the Worldsource Wealth Management (WWM) group of companies, an
integrated national financial advisory platform serving the needs
of independent advisors. WWM is headquartered in Markham, Ontario,
and has approximately $10 billion in assets under administration.
WWM is a wholly-owned subsidiary of Guardian Capital Group
Limited.
Contacts: Guardian Capital Group Limited George Mavroudis
President & Chief Executive Officer (416) 364-8341 Guardian
Capital Group Limited Vern Christensen Senior Vice President
Finance (416) 947-4093
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