The Investment Funds Institute of Canada (IFIC) has reorganized its Education Division and created a new, not-for-profit company to provide for the growing needs of mutual fund and life insurance advisors in the country.

In addition, the Canadian Institute of Financial Planners (CIFPs) is buying IFIC’s financial planning assets and intellectual property through the acquisition of The Canadian Institute of Financial Planning (CIFP) and will continue to provide education services to IFIC members and the broader market.

Under an agreement announced today in which IFIC separates its trade operations from those of its education organization, IFIC will have an arm’s-length but collaborative relationship with the new company that will operate the IFSE brand of mutual fund and life insurance courses. This includes the Canadian Investment Funds Course, which is the licensing requirement for mutual fund sales professionals. IFSE and IFIC will have separate boards and operate independently.

“IFSE is built on a solid foundation going back more than 40 years with its top 20 clients consisting of large investment and insurance companies in the Canadian marketplace,” said Joanne De Laurentiis, IFIC’s president & CEO, in a release. “With the reorganization, the market gains a new dedicated education provider that will focus exclusively on meeting the current and emerging needs of IFIC Members and the broader market.”

De Laurentiis said IFSE will focus on capitalizing on proposed regulatory changes in the mutual fund and securities sectors while expanding life insurance and mutual fund training, specifically to banks and credit unions. IFSE will also work collaboratively with the CIFPs to serve IFIC members and the broader industry.

Keith Costello, CIFPs president and CEO noted that “with this acquisition, we can complete our service offerings by adding CFPTM accreditation education programs through the Financial Planners Standards Council.”

CIFPs is a professional association providing CFPTM planners with a full range of services, including errors and omissions insurance, continuing education, conferences, and advocacy.