iA Financial acquires $40bn advisory firm

iA finalizes $597 million purchase with the goal of expanding national footprint

iA Financial acquires $40bn advisory firm

iA Financial Corporation announced this morning the acquisition of RF Capital Group Inc., more commonly known as Richardson Wealth. 

The deal adds $40 billion in assets under administration (AUA) to iA Wealth and adds to their reach in the high net worth client segment. According to a press release announcing the deal, iA Financial paid $597 million for Richardson, with fully diluted equity valued at $570 million and $227 million in financial obligations. All issued and outstnading common shares of RF Capital are being acquired at a price of $20.00 per share. 

‘’This acquisition aligns with iA's unique model, the iA way – highlighting our strategic approach to sustainable growth – by expanding our reach in target segments and enhancing our scalable distribution model,” said Denis Ricard, President and CEO of iA Financial Group in the release. “We strongly affirm our commitment to the value of advice by empowering advisors with best-in-class tools and preserving their independence so they can assist clients feel secure about their financial future.”

In the release, iA leadership stressed Richardson's presence as an independent wealth manager in Canada and their renowned service to the high-net-worth market. 

The deal brings iA Wealth's advisory network AUA to around $175 billion. Stephan Bourbonnais, Executive Vice-President Wealth Management at iA Financial, emphasized the scale advantages that come with this growth. 

Dave Kelly, President & CEO of RF Capital, noted that their advisors will continue to operate independently under the Richardson Wealth brand. 

“This milestone marks an exciting new chapter for RF Capital. By joining forces with iA, we unlock powerful opportunities across technology, product innovation, and operational scale—enhancing the advisor value proposition through expanded capabilities and support,” said Kelly

 

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