(August 29 – 9:40 ET) – Frank Russell Canada is buying the trademark to RBC Dominion Securities’ popular Sovereign Program, which it plans to market through other dealers.

The company also said it renewed a strategic alliance with Royal Investment Services and is committed to strengthening the relationship over the long term. It will also seek to develop additional strategic alliances with other distributors.

“Russell’s intention is to build strategic alliances with a select number of pre-eminent dealers in Canada,” said company president Joe Perrin. “We will develop each partnership with the same careful effort and due diligence that has characterized our relationship with RIS.”

The two firms said the renewed relationship will allow RIS and Russell to enhance the existing Sovereign Investment Program and collaborate on other activities. Under the agreement, RIS has committed to delivering operational improvements and increasing education and co-op marketing activity for the Sovereign Program, while Russell will provide RBC DS investment advisors with enhanced sales and advertising support.

“The new agreement reflects the evolving needs and new realities of the marketplace,” said Steve Mantle, RIS vice president and director, managed investments. “We remain committed to the relationship we have enjoyed with Russell for the past eight years.”

-IE Staff