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Canadian Financial Group Doubles Wealth Management With Acquisition
Canada’s Manulife Financial is to buy Berkshire-TWC Financial Group to double the size of its Canadian wealth-management business.
Berkshire-TWC Financial Group has more than 700 advisors and 237
branches across Canada.
Manulife chief executive Dominic D'Alessandro told investors that
increasing the Toronto-based insurer's share of the Canadian
mutual fund market was a strategic objective.
The deal will double the number of wealth management advisors Manulife has across Canada and triple its assets under administration in that business.
The deal is expected to close by the end of August. Financial terms were not disclosed.
