MONTREAL, Dec. 8 /CNW Telbec/ - PEAK Financial Group acquires 100% of Promutuel Capital Financial Services Firm's capital. The final agreement will be ratified on December 31, 2009. The new entity will join PEAK Financial Group's four other member companies. The acquisition will allow PEAK - one of the largest independent financial firms in Canada - to significantly strengthen its position in the financial services industry. Two years after AXA Financial Services' acquisition by PEAK Investment Services, this acquisition will increase PEAK's assets under administration to over $6.5 billion and could represent the largest transaction in mutual fund dealers in Canada this year.
"I am thrilled that PEAK Financial Group was able to earn Promutuel Capital Financial Services Firm's trust through our solid foundation built on the values of independence and integrity-the core of our business model for the past 17 years", said Robert Frances, PEAK Financial Group's President & CEO. "I am convinced that Promutuel Capital Advisors will continue to promote the strength and value of independent advice in addition to PEAK's 600 Advisors", he added.
"We are excited that PEAK is taking over Promutuel Capital Financial Services Firm. PEAK's philosophy and values are very similar to our own. Our Representatives will therefore be able to work in an environment where their independence will be entirely respected", emphasized Serge Roy, First Vice President of Marketing and Business Development.
With locations throughout Canada, PEAK Financial Group has developed a solid reputation in the industry. As a multidisciplinary dealer, PEAK offers its expertise to a well-established network of Independent Advisors working in wealth management, mutual funds, securities, insurance and financial planning. The new Promutuel Capital Financial Services Firm entity will undoubtedly strengthen PEAK's position with a network of over 1,000 registered professionals and employees in Canada.
About PEAK Financial Group
Established in 1992, PEAK Financial Group, one of Canada's premiere independent financial groups, represents more than 600 Advisors who assist over 100,000 Canadian investors. PEAK Financial Group manages over $5 billion in assets under administration and has an enviable life insurance portfolio.
With locations from coast to coast in Canada and registered in each province, PEAK Financial Group is comprised of 4 member companies: PEAK Investment Services Inc., PEAK Financial Services Inc., PEAK Securities Inc., and PEAK Insurance Services Inc. As a multidisciplinary dealer, PEAK offers its expertise to a well-established network of Advisors.
Thanks to corporate values of integrity, independence, and innovation, PEAK has been regularly recognized by PROFIT magazine as one of Canada's 100 fastest growing companies.
SOURCE PEAK Financial Group
For further information: For further information: Caroline Combes, Marketing, Communications and Public Relations, PEAK Financial Group, (514) 844-6000, firstname.lastname@example.org