Industrial Alliance Insurance and Financial Services Inc. completed the acquisition of HollisWealth Advisory Services Inc., HollisWealth Insurance Agency and certain assets of the Bank of Nova Scotia (Scotia Capital Inc. and HollisWealth Inc.). The acquisition took effect after close of business on Friday, August 4, 2017. The agreement to acquire HollisWealth had been announced on December 5, 2016.
HollisWealth is a leading Canadian financial network and a member of Scotiabank and provides diversified investment and wealth management services to individuals, families, and corporations at 300 locations across Canada.
By acquiring HollisWealth Advisory Services Inc., Hollis Wealth Insurance Agency and certain assets of the Bank of Nova Scotia, iA Financial Group becomes one of the largest non-bank wealth management advisory firms in Canada, with almost $80 million in assets under administration. iA Financial Group’s primary objective is to expand its activities and the wealth management services it offers.
A Fasken team composed of Jean G. Morency (leader and negotiator), Sophie Lessard Berger (Corporate Law), Charles-Antoine Dorion (Corporate Law), Élise Renaud (Securities and Regulatory), Leslie Milton, Huy Do (Competition Law), Anabel Quessy (Securities), Paul Cabana (Tax Law), Jean-Michel Lapierre (Securities), and Antoine Aylwin (Privacy and Access to Information) advised iA Financial Group on this strategic acquisition.
