Today, Canada Life is able to address most Canadians’ needs through its catalog of seg funds and mutual funds. IPC will add considerable strength to the firm’s already-formidable presence on the MFDA platform, which currently includes close to 2,700 advisors licensed through Quadrus Investments.
As clients’ needs grow more sophisticated and advisors seek to move upmarket, the IPC brand also brings immediate credibility to the high-net-worth market on the IIROC side. A big piece of that comes from the securities, discretionary portfolio management, and a fee-based offering facilitated via the IPC One integrated digital platform.
“Particularly in light of some of the regulatory changes that we’re seeing with the new SRO, we think the winning wealth management platform will be technology-led,” Moncrieff says. In announcing the acquisition, Canada Life said it will continue running its business and IPC’s as separate operations, though the ultimate goal is to create a unified platform for advisors and clients.
The synergies don’t stop there. With IPC’s capabilities in wealth management, practice management, and succession planning, advisors at Canada Life can benefit from a better experience growing and future-proofing their practices. Canada Life also expects its deep expertise in life insurance-based estate planning will make a real difference for some IPC advisors who might not have as much experience with that.
The acquisition also represents a new chapter of growth for IPC President and CEO Blaine Shewchuk and its founder, Chris Reynolds, who will both continue to play an extremely prominent role in the organization. In the statement announcing the deal, Shewchuk highlighted how having increased access to capital would “support [IPC’s] ability to attract new advisors, provide innovative portfolio solutions, and continue to invest in helping advisors better serve their clients.”
