IPC Financial Network Inc has entered into an asset purchase agreement with Strategic Financial Management Group Inc., a mutual fund dealership based in Toronto.

The deal calls for the transfer of Strategic’s licensed mutual fund sales representatives to IPC Investment Corp., a subsidiary of IPC. The purchase price is $425,000 and is fully payable by cash on closing.

IPC says this transaction is consistent with its business plan and strategy to build a diversified financial services company focusing on the highly fragmented financial planning industry.

The acquisition is subject to regulatory approval.