(April 27 – 12:15 ET) – Sun Life Financial Services of Canada Inc. today has acquired a controlling interest in IQON Financial Management Inc., a Canadian, privately held mutual fund distribution company. IQON provides administrative and professional development support to a network of experienced financial advisors. The transaction is subject to approval by applicable regulatory authorities.

Sun Life Financial will indirectly acquire 51% of the common shares and all of the preference shares of IQON. Sun Life Financial is also positioned to acquire the balance of the common shares over time.

“The Sun Life Financial group of companies has been involved in mutual fund distribution in Canada through Sunetco Investment Services Inc. since 1987. The investment in IQON demonstrates Sun Life Financial’s commitment to contributing to the growth of IQON, while providing Sunetco’s financial advisors with enhanced tools for building sound financial planning practices,” said Marcel M. Gingras, executive vice-president, Canadian Operations.

“One of IQON’s key goals is to continuously increase the services and value provided to its financial advisors. The alliance with Sun Life strengthens our position in the marketplace and brings Sun Life’s considerable resources to assist IQON in expanding and improving services for its advisors. It also demonstrates our continued commitment to our advisors to offer the best possible service and support while allowing the advisors to maintain their independent practices,” said Don Smith, president and Chief Executive Officer of IQON.
-IE Staff