MGI Securities Inc. has created an equity plan for employees. The purpose of the plan is to attract and retain key professionals.

Under the plan, such employees will be eligible to purchase, in the aggregate, up to 30% of the outstanding common shares of MGI.

“MGI management feels that this is an important step in continuing to grow the company,” said Lewis Reford, president and CEO of MGI. “When competing against the large brokerage firms, you need to constantly look for creative new ways to attract and retain talent, and we think this equity plan will allow us to do just that.”

MGI is the wholly owned investment dealer subsidiary of Jovian Capital Corp.

Philip Armstrong, president and CEO of Jovian, added, “We believe that this plan is in the best interests of Jovian and its shareholders. By allowing key MGI employees to have an equity stake in their company, you provide incentive and motivation to those people in a way that simply can’t be achieved through ordinary compensation. The importance of this in the highly-competitive world of investment dealers can’t be overstated.”

The plan is subject to regulatory and other approvals.

Established in 2000, MGI Securities is a full-service investment dealer firm, providing a comprehensive range of specialized services for institutional investors and wealth management solutions for individual investors. With offices in Toronto, Winnipeg, Calgary and London, Ontario, MGI Securities employs more than 60 retail brokers and capital markets professionals.