RF Capital Group Inc., also known as Richardson Wealth, announced Sept. 22 that its shareholders agree iA Financial Corporation Inc. should acquire RF Capital. iA Financial will acquire all issued and outstanding common shares for $20 per common share. It will also acquire all outstanding series B preferred shares for $25 per preferred share, plus any unpaid dividends.
The resolution required approval from at least two-thirds of votes cast by shareholders in person, virtually present or represented by proxy at the meeting. Close to 11.1-million votes were cast in favour of the common share arrangement and more than 2.8-million votes were cast for the preferred shareholders’ arrangement. Just 1.12 per cent and 0.43 per cent of shareholders, respectively, voted against the resolutions.
Richardson Wealth adds $43-billion in assets under administration to iA Financial’s books. In late July 2025 when the companies announced they had entered into a definitive agreement to complete the acquisition, the company also announced that Richardson Wealth advisors will continue to operate independently under that brand going forward.
