Financial network expands reach through acquisitions

Large Canadian financial group buys independent investment advisor

by Rebecca Root

Canada-based financial services group John Hancock Financial announced that it has purchased assets of independent broker dealer and investment advisor company Transamerica Financial Advisors (TFA).
The acquisition, which is predicted to take up to six months before coming into full effect, will mean 1,100 advisors and 90 supporting staff from TFA will become affiliated with Signator Investors, although this is subject to regulatory approvals.
John Hancock also operates across the US and Asia, offering financial protection products (of which Signator is one) and wealth management services through its employees, agents and distribution partners.
Signator Investors has a national network of independent firms and, like TFA, offers protection products and investment advice that aim to help advisors better cater for their clients.
Terms of the deal have not been disclosed but John Hancock will double its number of independent brokers should the deal be approved.
The merger will mean that TFA staff will have access to Signator’s financial planning support, account platforms, technology and practice management team as well as marketing portals and social media platforms.
The move comes not long after Signator announced its launch of the Signator Womens Advisors Network, a forum providing women advisors with resources and opportunities for business and professional growth.