On October 3, Financial Horizons Group announced that it had signed a letter of intent to acquire all the shares of Montreal-based managing general agent Marcolin & Associates. The purchase price was not disclosed. The transaction is expected to close later this month.
Once the deal is completed, Financial Horizons Group will have more than 7,500 advisors, more than $3 million in annual in-force life premiums, and more than $5 billion in segregated fund assets under management.
In a new release announcing the acquisition, Financial Horizons Group president and CEO John Hamilton indicated that the management team, office, and staff at Marcolin & Associates will remain unchanged, and that Jim Marcolin will continue to play an active role in the company's day to day operations.
“This acquisition is another strategic step in the growth of Financial Horizons Group,” said Mr. Hamilton. “This allows us to further expand our position in Quebec and importantly, provide enhanced service and support to advisors affiliated with the recent Quebec acquisition of Excel.”