Peak Investment Services Inc, a member of Peak Financial Group, has entered into an agreement to acquire the assets of AXA Financial Services, Financial Services Firm (AFS), a mutual fund distributor based in Montreal and part of AXA Group.

Under the terms of the agreement, AFS advisors will obtain access to Peak’s reputable back office and front office services.

“We chose Peak for this transaction because it protects the independence of our advisors and Peak shares our vision for distribution”, says Robert Landry, executive vp, life insurance and financial services at AXA. Advisors from AFS cover Ontario, Quebec, New Brunswick, and Nova Scotia.

“All of us at Peak welcome the AFS advisors and look forward to continuing to build Canada’s premier fully-independent network with them”, says Robert Frances, president & CEO of Peak Financial Group.

With this transaction, Peak will grow to over 500 employees, advisors and financial services professionals across Canada.

Assets under administration will grow to about $5.5 billion dollars, making Peak one of the largest independent providers in Canada, with services under IDA, MFDA, AMF, and insurance registrations.

Peak is finalizing its MFDA registration in the province of Newfoundland, which will make Peak Investment Services present in all 10 provinces across Canada.