Desjardins Financial Security (DFS) is becoming the sole shareholder of SFL Management Inc. (Gestion SFL inc.) by acquiring the Caisse de dépôt et placement du Québec’s 30% minority interest in the financial products and services distribution network.

By mutual agreement with the Caisse de dépôt, DFS decided to move back the Caisse’s sales option by one year.

“We intend to continue working in strong partnership with SFL financial centres and to support the network’s development goals and the growth of the financial centers,” said François Joly, president of DFS.

“The presence of such a strong distribution network, in conjunction with the launch of our product offer in Desjardins caisses and Corporate Financial Centres, will allow Desjardins Financial Security to consolidate its leadership in the life and health insurance and financial services industry in Quebec,” he added.

In the last two years, the number of SFL Management financial centres in Quebec and Laurentian Financial Services (LFS) financial centres in the other Canadian provinces increased from 19 to 28. The network includes some 1,000 partner-representatives, has over half a million clients and manages close to $5 billion in savings and $235 million in life insurance premiums.

Denis Berthiaume, president of SFL Management, has confirmed his firm desire to continue the expansion of the network. “While the consolidation in the financial services industry continues, the success of advisors is increasingly based on their association with a solid network that shares their ambitions, which can satisfy their expectations and ensure the financial security of their clients. This is what SFL guarantees the advisors who choose to join our network, not counting the wide range of innovative products and advisory services from Desjardins Financial Security and the products of 16 Canadian insurance manufacturers and 80 mutual fund managers.”