The Financial Management Group of Companies (FMG) and PPI Financial Group (PPI) are forging a strategic alliance that will also see PPI take an equity stake in FMG, the two companies announced Thursday.

The driving force behind the agreement is to further enhance FMG’s offerings for its independent brokers.

FMG, based in Calgary, is a national distributor of insurance and investment products. Toronto based PPI is an insurance distributor supporting advisors working in the high net worth and business market.

Their alliance will allow FMG to adapt PPI’s product development skills and support tools to its market.

“The marriage of powerful, national resources with a local service model will enhance our broker’s business,” said Jim Virtue, FMG president and CEO, in a release.

“With FM’s strong foundation, and PPI’s proven ability in developing product, application specific sales ideas and software, we believe that we can assist many additional agents in client development and servicing activities,” Virtue said.

“The result should be better solutions for the customer and a more productive and profitable practice for the broker,” he concluded.

IE