After 30 years as a shareholder and 16 years as CEO of Financial Horizons Group - Québec (formerly Force financière Excel), James McMahon is stepping down at year end. Denis Blackburn will direct the Québec region at this MGA, acquired by Canada Life in 2012.
McMahon told the Insurance Portal that he is not retiring from the industry, but simply embarking on a second career. “I’m going back to sales,” McMahon says, adding that he will coach Blackburn until the end of December, his “official” retirement date, to ensure a smooth transition. James McMahon had informed Financial Horizons Group of his planned retirement early this year.
The press release that FHG issued on July 28 states that McMahon views Denis Blackburn as his ideal successor. “Together they will be working through a comprehensive plan to set up Denis—and advisors—for success,” the MGA announced.
James McMahon began his career in the industry in 1978 as an advisor. In 1990 he acquired shares of Fortier & Labonté, which became Force Financière Excel under the leadership of Daniel Labonté. McMahon told the Insurance Portal that he took the helm of the MGA in 2004. He spurred the steady expansion of Force Financière Excel throughout Québec. Since joining Financial Horizons Group in 2012, he has served as president of the Québec region.
Leaving SFL
The time was ripe for Denis Blackburn to take on what he describes to Insurance Portal as “a very fine challenge.” Until July 4, 2018, Blackburn was president of the National Bank Insurance Firm (NBIF) and vice-president insurance distribution at National Bank of Canada. He ended his 20-year sojourn at National Bank by joining SFL Wealth Management as vice-president sales performance and network management.
“I left SFL in May,” Blackburn points out. He adds that McMahon played a big part in his being appointed president of the Québec region of Financial Horizons Group. “James and I know each other for over 20 years.” They discussed the succession plan together. “It suits us both very well,” Blackburn says.
Denis Blackburn will report to David Stewart, who runs the Kitchener office as Executive Vice President and Chief Operating Officer of Financial Horizons Group. The consulting firm Knightsbridge also contributed to the search for McMahon’s successor.
New hierarchy in Québec
Denis Blackburn will also be working closely with Louise-Marie Rousseau, Vice-President, Sales, Québec région, to support the FHG advisors in the region. “Louise-Marie and the main sales directors in place will report directly to Denis. The sales directors and internal sales advisors will continue to report hierarchically to Louise-Marie.”
Guy Papillon, president of Groupe Financier Odyssée, will continue to report to Nick Pszeniczny, President and CEO of Financial Horizons Group. Cathy Hiscott, President of Excel Private Wealth and SVP, Executive Distribution Officer at the MGA will report to David Stewart. Financial Horizons Group acquired Odyssée in 2016.
Targeting the high end
Denis Blackburn aims to step up development of insurance and financial services for a high-end clientele, he told the Insurance Portal. In the Québec region, Financial Horizons Group wants to build a team of specialized advisors who already serve or who want to become more active in the sector of affluent clients, professionals and entrepreneurs. A market he has cultivated for the past 5 years or so, as head of NBIF.
Financial Horizons Group needs to make this shift, Blackburn explains, particularly in Québec. The incoming president will thus be managing a sales force of about 1,200 independent advisors in Québec. Currently, about 100 advisors are serving the high net worth sector, he points out.
A humble leader
In a press release FHG issued on July 28, David Stewart described James McMahon as a dynamic leader approachable throughout his storied career. “He has been integral to the sustained success of our organization and a key partner to advisors and industry partners in Quebec. The entire organization thanks James for his dedication.”
McMahon’s humility despite his tremendous success was also highlighted in the release. “I would not have enjoyed the career I have, if not for the talent, expertise, and engagement of the staff, advisors, and business partners I have been able to work with along the way,” Stewart continues.
A perfect match
Blackburn is commended for being a proven leader and for having a passion for working with advisors, gained from his 30 year career in the industry. Stewart says he is very reassured by McMahon’s enthusiastic reception of his successor.
“It’s absolutely true, we’re moving from strength to strength, James McMahon explains. Adding that he is confident that Blackburn is ideal for the position because he “‘gets’ advisors and will help bring advisors in the region to the next level.”
Denis Blackburn says he is joining Financial Horizons Group because he believes in the value of independent advisors. “Advisors constantly work very hard to serve their clientele, and I will work just as hard for them.”
Best job in the world
In a press release issued in French by the Québec office of Financial Horizons Group, James McMahon says he aspires to return to practise the best trade in the world.
He will assume his former role of financial security advisor, working alongside his spouse Jacinthe Saint‑Onge, a long-time advisor with the MGA within her firm Planif-Globale. He is greatly looking forward to mentoring Jacinthe Saint‑Onge’s daughter Marina Longpré, who plans to take over the firm in a few years.