Both firms to retain relationship-driven advisory model
In a transaction designed to retain continuity for clients and advisors, Investment Planning Counsel Inc. (IPC) has reached an agreement to acquire the wealth assets of De Thomas Wealth Management Corp., with both firms maintaining a focus on relationship-based service models.
IPC, a subsidiary of The Canada Life Assurance Company, announced the agreement as part of its strategy to support independent financial advisors. The deal, subject to customary regulatory approvals and closing conditions, is expected to be completed by the end of the third quarter of 2025.
De Thomas Wealth Management, a family-owned firm established in 1987, manages over $2.7 billion in assets under administration. The firm operates with a model centered on advisor independence and long-term client relationships.
Tony De Thomasis, president and CEO of De Thomas, said the transaction will allow its advisors to continue operating independently while gaining access to IPC’s discretionary investment platform and succession planning program.
“It's a collaborative approach that honours the strengths, entrepreneurial culture and legacy of both organizations, while creating new opportunities for our advisors and clients alike," he added.
According to John Novachis, executive vice president of advisor growth and succession at IPC, the organizations share a commitment to advisor entrepreneurship and client-first service.
"We look forward to working closely with De Thomas advisors to help them grow and succeed,” said Novachis. “This acquisition brings together two organizations that share a deep commitment to advisor entrepreneurship, client-first service, and long-term relationship building."
Meanwhile, Blaine Shewchuk, IPC president and CEO and executive vice president of individual wealth at Canada Life, described the acquisition as aligned with IPC’s direction to offer infrastructure that supports advisor-client relationships and allows for business development through flexible options and resources.
"We are committed to delivering a best-in-class experience to advisors by helping them foster deeper relationships with their clients, enabling flexibility to grow their business, and providing an offering that allows them to capture the value they create," said Shewchuk.
