Canada Life expands wealth management reach with latest acquisition

“We’ve long believed in the value of advice, and IPC’s strong advisor relationships will help expand access to the trusted advice Canada Life is known for,” said Jeff Macoun, president and chief operating officer at Canada Life. “Together, Canada Life and IPC will offer independent advisors practice management, planning, and succession support that will help them ensure continuity of advice and service for clients. We are committed to supporting the growth and success of our advisors and helping them navigate the changing regulatory landscape.”

Under the terms of the transaction, Canada Life will acquire IPC for a total cash consideration of $575 million, subject to adjustments. The deal is set to close by the end of 2023 and is expected to be funded with available cash on hand.

“IPC founder Chris Reynolds and I are thrilled to embark on our next chapter of growth with Canada Life,” said Blaine Shewchuk, president and CEO of IPC. “The access to capital will support our ability to attract new advisors, provide innovative portfolio solutions, and continue to invest in helping advisors better serve their clients. Advisors will continue to enjoy the advantages that come with being part of an independent wealth firm, which includes an open architecture investment platform.”

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