Investment Planning Counsel Inc. has entered into an asset purchase agreement with Faiz & Associates Inc., a mutual fund dealership based in Toronto. The agreement transfers about $100 million in mutual fund assets under management from Faiz & Associates to IPC Investment Corp, a subsidiary of Investment Planning Counsel Inc.

As part of the deal, Faiz and Associates’ licensed financial advisors have joined Investment Planning Counsel Inc.

Other terms of the transaction were not disclosed.

“Our agreement with Faiz & Associates supports Investment Planning Counsel’s strategy of attracting the industry’s top advisors who offer highly innovative products and services and build strong connections with our clients,” says Chris Reynolds, president, Investment Planning Counsel.

“Joining the Investment Planning Counsel family will improve our efficiency and bolster our commitment to servicing our clients’ needs,” says Mark Faiz, president, Faiz and Associates. “We were impressed with the professionals at Investment Planning Counsel and their business model. We expect the relationship will blossom in the weeks and months ahead.”

Investment Planning Counsel is a member of the IGM Financial Inc. group of companies.