(February 18 – 17:00 ET) – IPC Financial Network Inc. is financing Tricycle Asset Management Corporation, a specialized asset management group. Tricycle will develop and bring to market strategic alternative asset programs and products for financial planners across Canada.
Tricycle Asset Management is wholly owned by and comprised of an alternative assets team – Robert Bourgeois, Fred Hirshfeld and Jan Holland. Formerly of Nesbitt Burns Managed Futures, this group has benn involved in the creation and growth of the managed futures industry in Canada. Through innovative investment products such as Bank of Montreal Managed Futures Certificates of Deposit and Business Development Bank of Canada Managed Futures Notes, this team has raised and managed close to $1 billion for institutional and private client investors.
“We believe this investment will have tremendous benefits for our clients, planners and our business,” says Steve Meehan, CEO of IPC Financial Network Inc. “Through Tricycle Asset Management, our planners will be able to provide their clients with strategic alternatives to stocks and bonds that were, at one time, only available to large institutions. Through our financing arrangement, which allows IPC to acquire ownership of the new venture as it grows, our company is now a key participant in the growing global market of alternative assets under the leadership of an experienced, proven management team.”
-IE Staff