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iA Financial Group concludes the sale of iA Investment Counsel


News Release

iA Financial Corporation Inc. (TSX: IAG), the holding company of iA Financial Group, announces that it has concluded the sale of iA Investment Counsel Inc. (“iAIC”) to CWB Financial Group (“CWB”). iAIC is comprised of two well-known Canadian private client firms: T.E. Wealth, founded in 1972, and Leon Frazer & Associates, founded in 1939.

Announced on March 2, 2020, this sale reflects iA Financial Group’s decision to focus on serving the wealth management needs of high-net-worth Canadians exclusively through its expanding network of independent, entrepreneur-owned investment advisory practices.

Following the closing of the sale of iA Investment Counsel, iA Financial Group continues to maintain a sound capital position with a pro forma solvency ratio as at March 31, 2020, of 121%, above its target range of 110 to 116%.