News Briefs
> IIROC glossary IIROC glossary
The Investment Industry Regulatory Organization of Canada’s new glossary of financial certifications is now available online. The free glossary offers investors information on roughly 42 certifications in the Canadian financial services industry, including: the issuing organization; the status of the professional within the issuing organization; the types of exams required to be certified, as well as any other education or experience required; continuing education requirements; investor complaints; and public disciplinary processes of the issuing organization.
> Profiler goes live
Financial advisors and their clients can now access the Motion Profiler, an online tool that Montreal-based Standard Life Assurance Co. of Canada has created. The free online tool asks users a series of questions about his or her investing concerns, job security and economic confidence. Once the questionnaire is completed, the profiler assigns the individual a ranking out of 100 and one of five detailed profiles: concerned investor; cautious analyzer; contented passive; confident accumulator and sophisticated investor.
> Fiera buys firms
Montreal-based Fiera Capital Corp.’s acquisition of Los Angeles-based Bel Air Investment Advisor LLC and New York-based Wilkinson O’Grady & Co. Inc. has been completed. The aggregate purchase price for the two firms totalled about US$156.25 million. Bel Air is an independent wealth management advisory firm that services more than 275 high net-worth families and individuals in the U.S. Wilkinson O’Grady is an investment manager of global and domestic portfolios for wealthy individuals, families, trusts, endowments, foundations and corporations. The acquisitions will add about $8.5 billion in assets under management to Fiera’s private-wealth division.
> MonCana purchase
Oakville, Ont.-based Canadian First Financial Group Inc.’s acquisition of Calgary-based MonCana Capital Corp. is complete. MonCana is the parent of MonCana Bank of Canada, which has more than 7,000 customers and a deposit base of $136 million. MonCana Bank has originated more than $1 billion in residential mortgages since 2011.
Compiled by Fiona Collie
(fcollie@investmentexecutive.com).