Last week, Industrial Alliance Financial Group (iA) purchased the Quebec-based financial services firm Groupe Financier Moreau. Now the insurer has bought Doherty & Bryant, a financial planning company in Alberta.

iA’s subsidiary T.E. Wealth announced that on March 29 it had acquired Doherty & Bryant, a seven-year-old financial planning firm in Calgary. Doherty & Bryant offers comprehensive wealth management advice including tax, retirement, insurance, and estate planning, well as third party investment manager selection and monitoring.

Enhanced investment opportunities

"We are enthusiastic to be joining a company that shares our vision and values and can offer our clients a greater depth of services, including enhanced investment opportunities with T.E. Wealth's investment arm, T.E. Investment Counsel," stated the firm’s founders Russ Doherty and Vic Bryant. “The cultural fit is perfect and we are confident that the transition for their clients will be seamless,” added T.E. Wealth CEO Mark Arthur.

The transaction took effect immediately. Since the purchase is not deemed to have a material effect on iA Financial Group's earnings and capital, the terms of the deal were not disclosed.