iA Financial Group completes the acquisition of HollisWealth from Scotiabank

This morning, Industrial Alliance Insurance and Financial Services Inc. (“Industrial Alliance” or “iA Financial Group”) Wealth Management announced the closing of a transaction in which it acquired HollisWealth from Scotiabank.  Industrial Alliance has now become one of the largest non-bank wealth management advisory firms in Canada with $75 Billion in Assets under Administration. https://com.ia1.co/Communiques-Banque-Scotia/IA-News-Release-HollisWealth-Closing-Acquisition-20170808.pdf

I would like to take this opportunity to welcome my HollisWealth colleagues and competitors. Having been with Industrial Alliance Securities (IA Securities) since April 2005, I can affirm what a first-rate firm you have become a part of.  iA Securities is one of the few remaining advisory firms that are truly focused on independent advisors. With recent headlines about robo-advisors, or bank-owned product driven advisors, I continue to believe that the Independent Advisor is vital to the financial well-being of investors wanting a ‘client-centric’ human-touch focus.

This is also a good time to remind investors why I believe Independence matters to investors. Our article “Independence: Why it Matters” first published in September 2015 highlights the 3 reasons why independence is imperative for unbiased, conflict of interest free advice.

1. Client Relationship: as an independent advisor I am free to choose which clients I will work with, and this is not impaired by an arbitrary minimum asset level such as some of the bank-owned brokerages have recently imposed.
2. Client Experience: as an independent advisor I am in control of the client experience including the office space and office style I choose to work in, the hiring and compensation of staff and client support. Our structure, style and team are all focused on our client’s needs and interests, and not on any corporate objectives.
3. Products & Services: as an independent advisor, I make the decisions on investment recommendations. I choose a brokerage firm that held an open product shelf and provides no incentives to promote or entice one product over another. Independent advisors are free to choose the research services and tools that are of value to them and at their own cost.

Independence is NOT isolation nor is it free of the benefits of organization. Our brokerage partner, IA Securities provides compliance oversight, account and trade supervision, as well as research, trading and reporting platforms. IA Securities has been wholly committed to the independent advisor and have demonstrated that commitment over and over. 

The acquisition of HollisWealth and its integration into IA Securities is another demonstration of that commitment. Congratulations and thanks to the team and Management at IA Securities and welcome aboard HollisWealth?.

Industrial Alliance Securities Inc. (IAS) is a member of the Canadian Investor Protection Fund (CIPF) and the Investment Industry Regulatory Organization of Canada (IIROC). iA Securities is a trademark and business name under which Industrial Alliance Securities Inc. operates.

HollisWealth? is a division of Industrial Alliance Securities Inc.