Industrial Alliance Insurance and Financial Services Inc. today announced that it has obtained all regulatory authority approvals for the acquisition of National Financial Corp., the parent company of AEGON Dealer Services Canada Inc., Money Concepts (Canada) Ltd, and National Financial Insurance Agency Inc.

NFC is a subsidiary of AEGON Canada Inc. The closing of the transaction took place yesterday.

This transaction, which was announced on May 9, strengthens Industrial Alliance’s position in the distribution of mutual funds in Canada by expanding its diversified network of independent financial advisors.

The firm’s two mutual fund dealerships, Investia Financial Services Inc., which includes Money Concepts financial franchises, and FundEX Investments Inc., have over $17 billion in mutual fund assets under administration and over 2,500 financial advisors, making Industrial Alliance one of the five largest non-bank owned mutual fund dealerships in Canada.