Groupe Financier Signature has entered into a distribution partnership with Sentinel Financial Group. Under this agreement, Groupe Financier Signature, an associated general agent (AGA) with Groupe AgenZ, will have exclusive rights to recruit advisors interested in joining the mutual fund and exempt market dealer, Sentinel Financial Management. The partnership is aimed at distributing mutual funds and exempt market products in Quebec.
Sentinel Financial Group, based in Saskatoon, Saskatchewan, also operates as an associate general agency with Hub Financial through Sentinel Life Management and as a group insurance broker under Sentinel Group Benefits. Sentinel Financial Group was previously associated with BridgeForce, which was acquired by Hub Financial in February 2023.
Christopher Blair, CEO of Sentinel Financial Group, took over the organization in September 2019. Since then, Sentinel has expanded its recruitment efforts, particularly in British Columbia, Alberta, and Ontario, Blair noted during an interview with the Insurance Portal.
A distinct entity
In 2022, Sentinel Financial Group established a foothold in Quebec with five mutual fund representatives. Blair realized that a local partner was needed to further their expansion in the province. “We needed much more exposure French. We have French-speaking people in our head office to deal with the existing advisors, but to grow the business, we needed someone who’s a resident of Quebec to look to grow the business in Quebec,” he explained.
Blair reached out to Louis-Xavier Savard, president and founder of Groupe Financier Signature. “We began discussions with Louis-Xavier in 2024 about a partnership. We decided to move forward,” Blair said.
Rapid growth
Sentinel Financial Group works with approximately 125 life insurance advisors. According to Blair, around 65 of them are also licensed to sell mutual funds and exempt market products. He disclosed that Sentinel Financial Management currently has about $1 billion in assets under management.
For his part, Louis-Xavier Savard noted that his company is experiencing rapid growth. “We were looking for a partner for those of our advisors who want to sell mutual funds or exempt market products,” he explained to the Insurance Portal, adding that he did not want to create his own mutual fund dealer.
Advisors recruited by Groupe Financier Signature for their interest in these markets will be affiliated with Sentinel Financial Management, Savard explained. Advisors within Groupe Financier Signature who hold mutual fund licenses will have this opportunity.
Groupe Financier Signature currently works with 180 advisors and is now beginning to recruit representatives in mutual funds and exempt markets. Savard mentioned that they have already recruited around ten advisors. “Our recruitment was previously focused on advisors licensed solely as life insurance advisors. We are now broadening our recruitment options. Many of our life insurance advisors are planning to, or are in the process of obtaining their mutual fund licenses,” he added.
