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iA Financial Group announces the acquisition of assets of Laurentian Bank Securities' retail full-service investment broker division
iA Financial Group announces the acquisition of assets of Laurentian Bank Securities' retail full...
About this update from Ia Financial Corporation Inc.
[{"type":"text","content":"\n \n \n \n iA Financial Group announces the acquisition of assets of Laurentian Bank Securities' retail full-service investment broker division\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n QUEBEC CITY\n \n \n ,\n \n \n April 4, 2024\n \n \n /CNW/ - iA Financial Group (TSX: IAG) announced today that it has entered into an agreement, through its subsidiary iA Private Wealth Inc. (\"iAPW\" or \"iA Private Wealth\"), to acquire assets of the retail full–service investment broker division of Laurentian Bank Securities Inc (\"LBS\").\n \n \n LBS' retail full-service broker division represents over\n \n $2 billion\n \n in assets under administration. Approximately 16,000 client accounts will be transferred to iAPW upon completion of the transaction and some 30 advisors are invited to join iAPW afterwards.\n \n \n \"iA Private Wealth is a leading independent wealth manager in\n \n Canada\n \n with a deep and committed focus on supporting advisors in delivering the highest standards of professional financial advice,\" said\n \n Stephan Bourbonnais\n \n , Executive Vice-President, Wealth Management at iA Financial Group and President and CEO of iAPW. \"This acquisition will support iA Private Wealth's strong growth and expand its presence. We look forward to welcoming these new advisors and helping them continue to secure their clients' financial future with confidence.\"\n \n \n This acquisition, the amount of which is not disclosed, will have only a marginal impact on iA Financial Group's solvency ratio.\n \n \n The closing date of the transaction is expected to be this summer, subject to, among other things, receipt of the necessary regulatory approvals.\n \n \n \n Forward-Looking Statements\n \n \n \n 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\", \"in...