Within wealth management, retail net inflows dropped 80%
Proceeds of $1.34-billion deal will pay down debt
Wealth management and individual insurance sales dropped at iA Financial
Management group no longer ruling out individual asset sales
As more Canadians retire and the fixed income space grows, financial services companies are pivoting
Wealthy clients who earn capital gains and make large donations will be hit
Net flows decreased by 60% to $990 million from $2.5 billion a year earlier
Fleeing financial advisors and clients could reduce bailout's benefit to the bank
Both the Competition Bureau and OSFI are reviewing the transaction, which requires approval from the finance minister
Changes include new role for former Richardson Wealth CEO Andrew Marsh and Fiduciary Trust Canada has a new CEO