IPC Financial Network Inc. is acquiring Prime Financial Securities Inc., a mutual fund dealership based in Winnipeg.

The terms of the agreement, which was announced today, were not disclosed.

“This relationship strengthens our presence in the Manitoba market and reaffirms IPC’s focus on building and supporting independent financial advisors,” said Steve Meehan, CEO of IPC, in a news release.

IPC was recently taken over by mutual fund giant Investors Group. That acquisition, announced in February and worth about $130 million, is expected to close in May.

IPC is continuing to operate as a separate company, with a focus on serving independent financial planners.