Desjardins Financial Security (DFS) announced today that the transfer of ownership of Performa Financial Group is now complete. Standard Life Financial Inc. and DFS said last March 9 that they had entered into an agreement for the sale of the distribution network to Optifund Investments Inc., a subsidiary of DFS.

The transaction obtained all customary regulatory approvals.

Performa has assets under administration totalling $1.3 billion, of which over 90% are located outside Quebec. Its main offices are located in Montreal, Toronto, Calgary and Vancouver. In addition, Performa has a network of 15 independent branches to which approximately 125 advisors are affiliated.

Denis Berthiaume, senior vp, individual insurance at DFS, said he was very optimistic about the coming months. “In addition to bolstering our market penetration outside Quebec, the acquisition of Performa Financial Group will strengthen our capacity to distribute financial products and services outside Quebec, thereby consolidating Desjardins Financial Security’s position as one of the top financial services providers in Canada.”