(January 3 – 18:20 ET) – Investment Planning Counsel of Canada Ltd. has filed a plan with the Canadian Venture Exchange for the acquisition of several advisors’ books.

IPC has acquired the book of business and block transfer right of Michael Patrick Bradley in exchange for 58,823 common shares of IPC at a deemed price of $2.55 a share. These shares will be held in escrow and released in three equal installments on the first, second and third anniversary date of the final closing date.

It has also acquired the book of business and block transfer right of Ronald Bruce Gordon for 36,000 common shares of IPC at a deemed price of $2.75 a share, and $51,000 in cash. The shares will be held in escrow and released in two equal installments on the first and second anniversary date of the final closing date.

IPC has acquired William Edward Green’s book for 198,911 common shares of IPC at a deemed price of $1.97 a share under a three-year escrow. It has picked up Bill Van Huisstede’s book for 176,991 common shares at a deemed price of $1.97 a share under a three-year escrow. Four other advisors — Roland Van Andel, Ken Vanderlaan, David James Peter Hasson and Charles Norman Twiss — have signed similar deals.

IPC has made the equitization of reps a long-term strategy. In its latest management discussion, it notes that it has been “highly successful in increasing the aggregate participation in the company’s Senior Associate Share Program”. Assets under administration in the SASP is up from less than $1 billion in 1999 to almost $2.5 billion in 2000. The company didn’t disclose how these latest purchases contributed to assets under administration.

IPC notes that it is seeking to establish a strong relationship with its representatives by “providing a framework of co-operation between the individual planners and management and aligning their interests through the SASP. Critical to the success of IPC is the building of relationships with strategic partners, increasing participation in the company’s SASP, implementing strategic planning and compliance programs and strengthening IPC’s internal back office systems.”
-IE Staff