Recently announced internally, the merger of Excel Private Wealth and Quadrus Investment Services isexpected to close on Jan. 1, 2022, Tim Prescott, President and CEO, Quadrus Investment Services Ltd., confirmed to Insurance Portal.
“Pending regulatory approval, on Jan. 1, 2022, two Canada Life subsidiaries, Excel Private Wealth Inc. and Quadrus Investment Services Ltd., will amalgamate to become one company,” explained Prescott via email.
Prescott said the new company will be called Quadrus Investment Services Ltd.
Boosting advisor support
Once the merger is complete, the organization will become one of the largest independent mutual fund dealers in Canada, Quadrus’ CEO points out. It will have more than 3,000 advisors and approximately $25 billion in assets under management. “This proposed amalgamation will provide scale and strength that will allow us to invest in enhancing our support to advisors across Canada,” Prescott adds.
French more prominent
What’s more, Canada Life intends to increase its French-language presence and capabilities significantly, Prescott continues. “We’re committed to supporting advisors, clients and our employees as well as continuing the great relationships that Excel Private Wealth has established in Quebec,” he says.
He adds that the merger offers technological advantages. Notably, it will give Excel Private Wealth advisors access to the Quadrus platform, which he described as powerful. Prescott said that in parallel with this access, the company will maintain and respect Excel Private Wealth advisors’ relationship with Financial Horizons Group for all insurance and segregated fund product needs.
