Investment Planning Counsel Inc. is expanding its footprint in the Canadian wealth management industry with the acquisition of Partners in Planning Financial Group Ltd., the companies announced on Friday.

Subject to regulatory approval, IPC will acquire Partners in Planning, including its subsidiaries, Partners In Planning Financial Services Ltd., a mutual fund and exempt market dealer, and Partners In Planning Insurance Services Inc., a national insurance agency.

Partners In Planning has more than 300 independent advisors and agents, operating more than 100 offices. Since 2007, it has been a member of the Walton Group – a land-based real estate investment group.

“As a member of the Walton Group of Companies, we have grown Partners In Planning into a strong dealership for financial advisors and agents,” said Bill Doherty, CEO of Walton Global Investments Ltd. and controlling shareholder of Partners In Planning. “However, we have taken a strategic decision to focus our own efforts on Walton’s rapidly-growing core land-based real estate investing and development business.”

Chris Reynolds, president of IPC, said Investment Planning Counsel and Partners In Planning share a similar philosophy and a common culture.

“We are committed to promoting an environment where independent wealth management professionals can build a better business,” he said. “In addition, Partners In Planning’s strong presence and its history in Western Canada will further entrench IPC’s position as a leading wealth management firm, supporting over 900 advisors nationally.”

Investment Planning Counsel is a member of the IGM Financial Inc. (TSX: IGM) group of companies, and has $12 billion in assets under administration.

The transaction is expected to close during the last quarter of 2010.

IPC to acquire Titan Fund family

In a separate and concurrent transaction announced on Friday, a subsidiary of IPC will acquire Titan Funds Incorporated. Titan Funds manages Titan Managed Portfolios – a suite of diversified portfolios that are actively managed by a team of institutional money managers, designed to provide investors with an all-in-one investment management program.

The portfolios are available through Partners In Planning and other selected dealers.

“We are pleased to welcome Titan Funds into the IPC family of portfolio management services, and we look forward to working with our new colleagues and partners once this transaction is completed,” said Reynolds.

The transaction will be completed as a plan of arrangement under the Business Corporations Act (Ontario), and is subject to regulatory, court and other approvals, including the approval of shareholders of Titan Funds and unitholders of Titan Managed Portfolios.

Shareholders and unitholders will consider the transaction at special meetings, which are expected to be held in October 2010. If approved, the companies expect the transaction to close shortly after the meetings.

IE