Windsor, Ont.-based mutual fund dealer Sterling Mutuals Inc. announced Thursday that it has entered into an agreement to acquire Family Investment Planning Inc., a dealer based in Cambridge, Ont.

The transaction is expected to close shortly after receipt of all regulatory notifications and approvals.

Family Investment Planning has been operating since 1998. It has a network of 33 investment advisors, insurance agents and financial planners.

The Mutual Fund Dealers Association of Canada (MFDA) announced on Aug. 16th that Family Investment Planning had given notice of its intention to resign its membership from the MFDA.

Under the acquisition, Family Investment Planning’s assets and advisors will be integrated with Sterling to create an independent dealer with more than 215 associates. Sterling, founded in 1996, operates in eight Canadian provinces.

“The acquisition of Family Investment Planning not only broadens our network of financial advisors but also strengthens Sterling’s reputation as the dealer of choice for independent advisors,” said Nelson Cheng, CEO of Sterling Mutuals.

Commented Bill Maidment, CEO of Family Investment Planning: “We are extremely pleased to be joining forces with Sterling. Their innovative technological achievements and commitment to service excellence will allow our advisors to prosper and focus on what they do best which is providing exceptional financial advice to clients.”