Investment Planning Counsel Inc. to acquire Independent Planning Group Inc.

TORONTO, Aug. 20, 2013 /CNW/ - Investment Planning Counsel Inc. ("IPC") and Independent Planning Group Inc. ("IPG") today announced that IPC has entered into an agreement to purchase the shares of Independent Planning Group.

The transaction is subject to regulatory approvals and other conditions and is expected to close later this year.   As part of this transaction, IPC will acquire:

1. Independent Planning Group Inc., an MFDA dealership;
2. Virtuco Technologies Inc.; and
3. IPG Insurance Inc., an MGA

In addition, IPC Portfolio Services Inc. (IPCPSI) has entered into an agreement to purchase Brigata Capital Management Inc. ("Brigata Capital"), an investment fund manager. IPCPSI intends to amalgamate Brigata Capital with Counsel Portfolio Services Inc., a wholly owned subsidiary of IPCPSI, immediately upon completion of the transaction.

The transaction is subject to regulatory approvals and other conditions, including the approval of the unitholders of Brigata Diversified Portfolio with respect to the change of its manager, and is expected to close later this year.

"We are delighted to welcome the Advisors of Independent Planning Group to the IPC family.  Both IPC and IPG share a similar philosophy and a common culture, which makes IPC a very good fit for them to continue to grow their business," said Chris Reynolds, President & CEO of IPC.

"We believe the strong firm which IPG is today can be even more successful in the hands of a partner with the kind of depth and experience which characterizes Investment Planning Counsel," added Vince Valenti, President of IPG.

About Investment Planning Counsel Inc.

Investment Planning Counsel Inc. is an integrated wealth management company founded in 1996. Investment Planning Counsel 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, Investment Planning Counsel 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.

About Independent Planning Group Inc.

Independent Planning Group 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.

SOURCE: Investment Planning Counsel