Assante Corp. completed a major step in its consolidation and branding program this past weekend as six of its 16 acquired Canadian distribution firms were branded with the Assante name.

On September 1, Brightside Financial Services Inc., Fenlon Financial (1997) Inc., FPC Investments Inc., Kronish de Grosbois Inc., Pro-Fund Distributors Ltd. and Summit Aurum Financial Group Inc. became Assante Financial Management Ltd., the company’s mutual fund dealer.

Some advisors with FPC Investments Inc. who are securities-licenced became part of Assante Capital Management Ltd., Assante’s securities dealer. On December 1, 2001, Investment and Tax Counsel Corp. will change its name to Assante Financial Management Ltd.

According to Assante, the name change will not affect the advisor-client relationship. Clients may continue to depend on the same quality advice and personalized service they have come to expect from their advisor.

“Last year, we set out to change the names of all our partner firms to Assante. We have been sharing resources and working together for some time to meet clients’ needs. Moving to one name is a key part of our strategy to build a strong brand identity — one that reinforces Assante’s commitment to outstanding client service,” said Martin Weinberg, Chairman, President and CEO of Assante Corporation.

“Having a strong Canadian brand will provide us with even more resources to meet client needs and generate shareholder value. In addition, we’ll have North American exposure for the Assante name when the branding of our U.S. firms takes place later this year”, said Weinberg.”

Nick Mancini, president and CEO of Assante’s Canadian operations, added: “Sharing the Assante brand offers our network of 1,500 advisors important competitive advantages. It lets clients know what they can expect, and provides assurance about the resources available to our advisors.”

The consolidation of Assante’s Canadian distribution operations began in 2000. This included integrating back office processing systems and distribution channels, along with developing an overall branding strategy. The company estimated that the overall cost of the program would be approximately $23 million. Operating efficiencies will be realized through centralized operations and processes, improved sales and marketing, reduced time to market on product launches and purchasing efficiencies.