Acquisition of three Desjardins Securities branches by 3Macs translates into new opportunities for both businesses
TORONTO, June 18, 2014 /CNW Telbec/ - 3Macs and Desjardins Securities, the brokerage firm of Desjardins Group, are pleased to announce a new agreement to work together to grow their businesses. The agreement includes the acquisition by 3Macs of three Ontario branches of Desjardins Securities as well as the transfer of their employees and clients. The transaction will also give 3Macs advisors access to Desjardins wealth management products and provide an opportunity for Desjardins to exercise a minority ownership interest in 3Macs in the coming year. The completion of the transaction will enhance the footprint of 3Macs in Ontario and allow Desjardins to distribute its products more widely across the country.
A privately held wealth management firm with a history of more than 160 years of success, 3Macs is excited about the future and its ability to serve the comprehensive wealth management needs of more and more Canadians. "This is a key strategic initiative as we continue to strengthen our position as a leading, independent wealth management firm," said Randy Ambrosie, Chief Executive Officer. 3Macs is founded on the quality of its advisors and employees, many of whom are owners in the business. "We believe that equity ownership fosters teamwork by providing a unified voice - ultimately making us a more client-centric firm."
Desjardins Securities selected 3Macs for their expertise in wealth management. "3Macs is well positioned to ensure that the advisors can continue to provide the best possible service to their clients," said Vincent Hogue, Senior Vice-President and Head of Private Client Services at Desjardins Securities. "As well, Desjardins is committed to growing across Canada and this agreement gives us more opportunity to focus on one of our strategic priorities to expand the distribution of our products."
Desjardins Securities and 3Macs are looking forward to deepening their relationship. "We are excited by the possibility of supporting and participating in the future growth of 3Macs. We strongly believe in the potential of these branches to contribute to their success," added Hogue.
"We look forward to welcoming our new advisors and clients to the 3Macs family, home to some of the most experienced financial professionals in the industry," commented Ambrosie. "We know that adding their expertise will serve us well in the future."
A Canadian success story that's been around longer than Canada, MacDougall, MacDougall & MacTier Inc. (3Macs) is the country's most established wealth management firm. With roots dating back to 1849, 3Macs has remained fiercely independent in its outlook, confident in its convictions and steady of course. Beginning with the belief that a client's interests are best served through careful analysis of their current situation, future goals and individual circumstances, 3Macs is home to some of Canada's most experienced advisors, who provide custom-tailored solutions and highly personalized wealth planning. As a result of this process, 3Macs' adherence to meeting the specific needs of their clients has created a niche for any investor seeking a more comprehensive approach to wealth management. The fact that these same principles have guided 3Macs' business process over the course of more than 160 years - while remaining ahead of the curve and delivering on clients' goals - speaks volumes. Let us show you how. www.3Macs.com
3Macs is a member of the Canadian Investor Protection Fund. www.CIPF.ca
About Desjardins Securities
Desjardins Securities, the brokerage firm of Desjardins Group, has been offering a growing range of products and services tailored to individuals, corporate and institutional investors since 1991. With more than $30 billion in assets under management, it offers a wide range of products and services to individuals through its network of investment advisors or through its discount brokerage division, Disnat. Its 250 expert financial advisors are dedicated to helping their clients become financially independent. The firm also offers a full range of corporate finance, advisory services, fixed income and equity trading products to corporate clients, institutional investors and government agencies. For more information, visit www.ds.ca.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada and the fourth largest cooperative financial group in the world with assets of $223 billion. It has been rated one of Canada's top 100 employers by Mediacorp Canada. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. The group has one of the highest capital ratios and credit ratings in the industry. It is considered as the fourth safest and strongest bank in North America according to Global Finance magazine and the first according to Bloomberg News. Desjardins Group and the International Co-operative Alliance will co-host the 2014 International Summit of Cooperatives (October 6 to 9) to be held in Quebec City.
SOURCE: Mouvement Desjardins
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