Excel Private Wealth will launch its mutual fund distribution operations in Ontario on August 20. In Quebec, this new division of Financial Horizons Group will operate as Excel Gestion Privée.

Managing general agency Financial Horizons Group added this line of business to its operations in June when it acquired both Excel Investments from James McMahon and Certika – as part of its acquisition of MGA R.G. Packman.

McMahon expects Excel to have obtained the regulatory approvals necessary to work in all provinces by the end of 2015 or in early 2016. Beginning this year, he says that offices should be up and running in New Brunswick, Manitoba, and in the Vancouver area for British Columbia. He is the one who will manage the fund firm's activities across the country.

At the time of the acquisition, Financial Horizons CEO John Hamilton indicated that the new business had $2 billion of assets under management in mutual funds distributed in Quebec and Ontario. In an interview with The Insurance and Investment Journal, Hamilton confided that the goal is to increase this amount to $8 to $10 billion, although he did not set a specific date.