The Globe and Mail reports in its Tuesday edition that Industrial Alliance Insurance and Financial Services Inc. is buying Bank of Nova Scotia's HollisWealth network of financial advisers. The Globe's Tim Kiladze and Jacqueline Nelson write that based in Quebec City, Industrial Alliance has said in the past that it wants to build scale in asset management because it sees a large transfer of wealth in the coming years from people over the age of 50. At a recent investor day, the company said that it wanted to expand its distribution network. "We see a lot of value" in independent advisers, despite the digital trends, chief executive officer Yvon Charest told The Globe on Monday. "Some organizations that developed the robo-adviser software were dreaming customers would go direct to them; within a year, you have seen a change." What is happening now, Mr. Charest added, is that some robo-advisers are calling advisers and suggesting they use the robo-software. Scotiabank first invested in DundeeWealth, the firm that owned HollisWealth, in 2007 by buying an 18-per-cent interest. In 2011, Scotiabank acquired the remaining shares for $2.3-billion. In late 2013, the adviser network was renamed HollisWealth.