The Global group of companies, encompassing mutual funds, insurance and RESPs, announced today that it has now rounded out its product and service offering by purchasing securities dealer Tercyn Capital Inc. of Toronto.

The group got its start in 1998 when it created a unique and flexible RESP product, Global Educational Trust Plan, that has since attracted more than 27,000 registrants and contribution commitments of approximately $350 million.

A mutual fund dealership (Global Educational Funds Inc.) and a full-service insurance brokerage and managing general agency (Global Insurance Solutions Inc.) followed.

“This is the first time that an RESP provider has grown to become a securities firm,” noted Don Harrington, the group’s CFO. “The Investment Dealers Association tells us it has never seen this before.”

Because of the way the business evolved, it is highly focused on serving the financial needs of families. This family orientation will be applied at Tercyn Capital as well.

“We’re looking for investment advisors who share that philosophy. We not looking for stock traders,” Harrington explained. Initially, Tercyn Capital is looking to recruit between 25 and 30 investment advisors who will work out of their own offices or homes as branches or sub-branches.

Harrington says Tercyn Capital will be attractive to investment advisors who are now working for the larger firms but are looking for more independence, access to an excellent RESP product, and most likely a larger payout.

“Our payout will be comparable with the best in the industry,” he said.

National Bank Correspondent Network is the carrying broker for Tercyn Capital — providing transaction execution and back-office support. Harrington likes this arrangement because it is “infinitely scalable” and allows the securities dealer to respond quickly to business opportunities.

Currently licensed in Ontario, Tercyn Capital expects to be doing business in most other provinces by year-end.

While the search is now on for seasoned investment advisors, eventually Tercyn Capital will put in place a ‘rookie program’ to recruit and train graduates right out of colleges and universities.