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Olympia Financial Group Inc T.OLY

Alternate Symbol(s):  OLYFF

Financial Services Asset Management
Olympia Financial Group Inc., through its subsidiary, Olympia Trust Company, operates as a non-deposit taking trust company in Canada. The company operates through six segments: Investment Account Services; Corporate and Shareholder Services; Currency and Global Payments; Private Health Services Plan; and Exempt Edge divisions. The Investment Account Services division specializes in self-directed registered plans administration. The Corporate and Shareholder Services division provides transfer agency and corporate trust services to public and private issuers. The Currency and Global Payments division provides corporations and private clients a personalized service for buying and selling foreign currencies. The Private Health Services Plan division markets, sells, and administers health and dental benefits to business owners. The Exempt Edge division provides information technology to exempt market dealers, registrants, and issuers. The company was incorporated in 1994 and is headqua...


TSX:OLY - Post by User

Olympia Financial Group Inc
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  • sdhakaX
Post by sdhakaon Mar 26, 2024 4:38pm
263 Views
Post# 35953978

Seeking registration as a trust corporation Ontario

Seeking registration as a trust corporation Ontario
Olympia Financial Group / TSX: OLY
 
PR Title
 
Seeking registration as a trust corporation Ontario
 
FRC Opinion: Positive – OLY’s subsidiary, Olympia Trust Company, is licensed as a trust corporation in all Canadian provinces except ON, restricting its ability to solicit or market services in ON. Currently, it acquires customers in ON through word-of-mouth referrals. However, with pending registration in ON, OLY could potentially initiate operations within the next six to 12 months, including the establishment of offices and active marketing campaigns to attract new customers in ON.
 
OLY has not disclosed the percentage of its existing 132k+ accounts that belong to customers in Ontario, Canada's largest market representing 40% of the population. If we assume that ON currently accounts for 10% of OLY’s customer base, we believe OLY could potentially increase its clientele by 50% after launching marketing efforts in the province.
 
Anticipating record revenue and EPS in 2024, we deem the latest announcement justifiable for revising our long-term revenue forecasts. We intend to incorporate these revisions in our upcoming Q1-2024 update.
 
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