Deputy chief economist Dawn Desjardins announced her retirement from RBC, while other industry veterans emerged in new roles
James McMahon will retire at the end of the year
FHG acquired all the shares of both firms on Aug. 1
Nick Pszeniczny, executive vice president of the Advisory Network, GWL’s, Canada Life’s and London Life’s combined distribution organization, will step into his new role on July 1
The deal reinforces the company’s presence in the MGA marketplace in central Ontario
Regulation is one factor driving the consolidation trend
John Hamilton will continue to lead Financial Horizons and the existing management team will remain in place
Management fees on Horizons S&P/TSX Capped Energy Index ETF and Horizons S&P/TSX Capped Financials Index ETF have been reduced to 0.25% from 0.35%
New Brunswick-based MGA Estate Financial has more than 200 brokers who serve clients in five provinces
The agreement helps Financial Horizons brokers gain access to more financial offerings while Pinnacle advisors will benefit from running their insurance business under one brand