iA Financial Group announced April 10 the acquisition of ABEX Brokerage Services Inc. and its subsidiary ABEX National Brokerage. ABEX is a managing general agency operating in Western Canada.
All operations to be integrated by PPI
In a statement, iA said that effective immediately, all operations of ABEX will be fully integrated and assumed by PPI (iA acquired PPI in late February).
"On behalf of PPI and iA Financial Group, we extend a warm welcome to ABEX advisors and staff," said Jim Virtue, President and CEO of PPI Solutions. "This acquisition continues to demonstrate iA Financial Group's firm belief in the value of distribution through independent advisors, and we look forward to supporting ABEX's advisors with PPI's full range of marketing, technology, underwriting, education and planning tools."
Established in 1986
ABEX, established in 1986 by founders Duaine and Lorraine Miller, supports advisors through offices in Alberta and British Columbia, under the management of Kevin Miller and Carissa Seguin."We are pleased and excited to continue supporting our independent advisors as part of a strong, national organization. We are confident that this transaction will ensure a strong, stable future for our advisors," said Miller.
"With the acquisition of ABEX, iA Financial Group continues to grow its insurance brokerage distribution in Canada," commented Denis Ricard, Chief Operating Officer of iA Financial Group. "Our subsidiary, PPI, will provide these advisors with best-of-class, expanded services for both insurance and wealth management. In addition, the PPI Advisory division that focuses on ultra high-net-worth clients brings new tools and opportunities for ABEX advisors."