OTTAWA, Aug. 20, 2013 /CNW/ - Brigata Capital Management Inc. ("Brigata
Capital") today announced that IPC Portfolio Services Inc. ("IPCPSI"),
a subsidiary of Investment Planning Counsel Inc. ("IPC"), has entered
into an agreement to purchase the shares of Brigata Capital. Brigata
Capital understands that it is intended that Brigata Capital be
amalgamated with Counsel Portfolio Services Inc., a wholly owned
subsidiary of IPCPSI, immediately upon completion of the transaction.
The planned acquisition is associated with IPC's concurrent transaction
to purchase the shares of Independent Planning Group Inc. ("IPG"), IPG
Insurance Inc. and Virtuco Technologies Inc.
"We believe the strong experience, product depth and management
expertise of IPC and IPC Portfolio Services Inc. will provide our
investors and advisors with a higher level of value, which Brigata
Capital alone could not provide. We are confident this new relationship
will bring many benefits to our investors and advisors", said Vince
Valenti, President of Brigata Capital and IPG.
"We are pleased to welcome Brigata Capital into the IPC family, and we
look forward to working with our new colleagues and partners once this
transaction is completed", said Chris Reynolds, President & CEO of IPC.
An information circular providing details with respect to the
transaction will be mailed to unitholders of the Brigata Diversified
Portfolio in advance of a special meeting to consider the transaction
and the proposed change in the manager of Brigata Diversified
Portfolio, currently expected to be held in the Fall of 2013. If
approved by unitholders, and assuming the satisfaction of all other
conditions, including regulatory approvals, the transaction would be
expected to close shortly following the meeting.
About Brigata Capital Management Inc.
Since 2007, Brigata Capital has been committed to offer excellent
performance, open communication, and expertise at every level of our
organization. Brigata Capital delivers proven experience, unique access
to highly qualified fund managers, and a shared vision of financial
success as we help investors meet their individual investment goals.
Through its mutual fund, the Brigata Diversified Portfolio, Brigata
Capital manages approximately $45 million of assets under management.
About Independent Planning Group Inc.
IPG was established in 1994 as a mutual fund dealer operating in Ontario
with the objective of assisting independent financial advisors to
manage and grow their businesses. Through the help of an experienced
and hard working team, IPG grew into an established dealership
servicing over 200 financial advisors in Ontario, Quebec and British
Columbia with over $2 billion in assets under administration. Through
its dedication to service, support and technology, IPG has earned a
highly respected reputation in the industry.
About Investment Planning Counsel Inc.
IPC is an integrated wealth management company founded in 1996. IPC
supports advisors in delivering a distinctive client service experience
by providing client-focused advice that helps Canadians live their
dreams. With $17 billion in assets under administration, IPC is a
member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM
Financial is one of Canada's premier financial services companies with
$125 billion in total assets under management as of June 30, 2013. For
more information, please visit www.ipcc.ca.
SOURCE: Brigata Capital Management Inc.
