Canadian Wealth Manager Makes Acquisition

Paul Das

13 July 2005

Investment Planning Counsel, based in Ontario, has entered into an asset purchase agreement with Faiz & Associates for about C$100 million in mutual fund assets under management. Terms of the agreement were not disclosed. In a news release, Investment Planning Counsel said under the agreement, the assets have been transferred to its IPC Investment unit. In addition, Faiz and Associates' licensed financial advisers have joined Investment Planning Counsel. Investment Planning Counsel, a wealth management company, is a member of the IGM Financial group of companies. Faiz and Associates is a mutual fund dealership based in Toronto.