QUEBEC
CITY, Aug. 6, 2024 /CNW/ - iA Financial Group
(TSX: IAG), through its subsidiary iA Private Wealth Inc. ("iAPW"
or "iA Private Wealth"), announced today that it has completed the
acquisition of assets of the retail full-service investment broker
division of Laurentian Bank Securities Inc. ("LBS"), as initially
announced on April 4, 2024.
The retail full-service broker division of LBS manages more than
$2 billion in assets under
administration. As a result of the transaction, approximately
15,000 client accounts have been transferred, with some 25 advisors
joining iAPW's network.
"The closing of this transaction marks another important
milestone for iA Private Wealth, fostering the growth of our
network as we welcome newly joining advisors and empower them to
continue delivering high-quality financial guidance to their
clients," said Stephan Bourbonnais,
Executive Vice-President, Wealth Management at iA Financial Group
and CEO of iAPW. "iA Private Wealth is also pleased to welcome the
new clients and is dedicated to providing unparalleled support to
secure their financial future."
The acquisition, the value of which remains undisclosed, only
has a marginal impact on iA Financial Group's solvency ratio.
Forward-Looking Statements
This document may contain statements relating to strategies used
by iA Financial Group or statements that are predictive in nature,
that depend upon or refer to future events or conditions, or that
include words such as "may", "will", "could", "should", "would",
"suspect", "expect", "anticipate", "intend", "plan", "believe",
"estimate" and "continue" (or the negative thereof), as well as
words such as "objective", "goal", "guidance", "outlook" and
"forecast", or other similar words or expressions. Such statements
constitute forward-looking statements within the meaning of
securities laws. In this document, forward-looking statements
include, but are not limited to, information concerning the future
operating results and expected benefits of the transaction. These
statements are not historical facts; they represent only
expectations, estimates and projections regarding future events and
are subject to change.
Although iA Financial Group believes that the expectations
reflected in such forward-looking statements are reasonable, such
statements involve risks and uncertainties, and undue reliance
should not be placed on such statements. More specifically, the
transaction is subject to the risk and uncertainty of whether and
to what extent iA would realize the expected benefits of the
transaction.
Additional information about the material factors that could
cause actual results to differ materially from expectations and
about material factors or assumptions applied in making
forward-looking statements may be found in the "Risk Management"
section of the Management's Discussion and Analysis for 2023, the
"Management of Risks Associated with Financial Instruments" note to
the audited consolidated financial statements for the year ended
December 31, 2023 and elsewhere in iA
Financial Group's filings with the Canadian Securities
Administrators, which are available for review at sedarplus.ca.
The forward-looking statements in this document reflect iA
Financial Group's expectations as of the date of this document. iA
Financial Group does not undertake to update or release any
revisions to these forward-looking statements to reflect events or
circumstances after the date of this document or to reflect the
occurrence of unanticipated events, except as required by law.
About iA Financial Group
iA Financial Group is one of the largest insurance and wealth
management groups in Canada, with
operations in the United States.
Founded in 1892, it is an important Canadian public company and is
listed on the Toronto Stock Exchange under the ticker
symbol IAG (common shares).
About iA Private Wealth
iA Private Wealth offers customized wealth management solutions
through a network of more than 460 independent investment
advisor teams. With over $50 billion
in assets under administration, iA Private Wealth is the partner of
choice for investors across Canada.
iA Financial Group is a business name and trademark of iA
Financial Corporation Inc. and Industrial Alliance Insurance
and Financial Services Inc.
SOURCE iA Financial Group