(December 8 – 18:10 ET) – Rice Capital Management has entered into an agreement to acquire Academy Investment Services Inc. (Academy) of Alberta, including the rights to market under the name of Family First Financial Services.

The agreement will be effective January 1, 2001, subject to regulatory approval. This is the latest in a series of acquisitions by Rice Capital as it consolidates its position to become a leading independent broker of financial services.

Academy is a primary provider of back office support, including mutual funds, life insurance and other financial planning services to Credit Unions in Alberta, says Rice. It will will be merged with the Alberta operations of Rice Capital’s subsidiary, Independent Wealth Advantage Inc. The combined company will operate as Independent Wealth Advantage (Alberta) Inc.

“The new organization will have two operating divisions. One division will specifically cater to the needs of Credit Unions and the other division will service the independent broker community. The company will use this base to further expand its activities in the Alberta marketplace and build templates for IWA Alberta’s parent company to service the Credit Union movement in the rest of our Canadian markets,” says Rice Capital Chairman and CEO, Thomas Rice.
-IE Staff