The Globe and Mail reports in its Tuesday, Nov. 24, edition that Industrial Alliance Insurance and Financial Services' IA
Financial Group is moving ahead
with expansion plans, acquiring
three firms in less than one week.
The Globe's Clare O'Hara writes that over the past several years IA Financial has been vocal on its plans
to increase its distribution network
across Canada.
Within the past week, the firm
has picked up a mutual fund
dealer, a securities brokerage firm
and an insurance agency. Ms. O'Hare notes that smaller firms are turning to larger players in an effort to survive
against the increase of costs and
compliance.
On Monday, IA subsidiary
Investia Financial Services
said it is acquiring Les Services
Financiers Planifax, an
investment firm specializing in
mutual-fund investments in Quebec.
The news follows Investia
last week announcing it will buy
the operations of BBA Financial
Group, a Quebec-based firm that
is home to about 200 insurance
representatives.
Investia currently has more
than 1,800 financial advisers
across Quebec, British Columbia,
Alberta, Ontario and Nova Scotia.
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