Kitchener, Ont.-based managing general agency (MGA) Financial Horizons Group has acquired S&V Planning Corp., a prominent MGA based in Victoria.

The transaction involved the purchase of 100% of the shares of S&V in exchange for cash and shares in Financial Horizons Group Inc. The deal closed on Oct. 31. Financial terms were not disclosed.

The management team, office and staff of S&V will remain essentially unchanged, the companies say.

On a day-to-day basis, it will be “business as usual” for the staff and advisors, the companies said in a release.

“This acquisition is another strategic step in the growth of Financial Horizons Group as the leading MGA in Canada,” said John Hamilton, President &
CEO of Financial Horizons Inc,

Paul Isaacson, president for Western Canada commented further, “We now have a significant footprint in B.C. with the intellectual capital and infrastructure to support the advisors in their business. We intend to be a major player in Western Canada and the addition of S&V to our existing framework will certainly help us to achieve that.”

Dennis Smith, president of S&V Planning, added, “In addition to the benefit of Financial Horizons’ size and strength, they have the same corporate culture as S&V when it comes to service and integrity for both our advisors and for our staff. This was the most important part of the agreement for me.”

Financial Horizons provides life company products and services to over 7,500 independent advisors Canada wide.