TORONTO, Dec. 8 /CNW/ - AGF Trust Company has announced that it has entered into a licence agreement with VERICO Financial Group Inc. to offer borrowers a co-branded mortgage program. This agreement expands AGF Trust's platform into the mortgage broker channel and provides VERICO brokers with more choice for their customers.
VERICO is a national network of more than 200 independently owned and operated mortgage brokerage offices that employ over 2,000 mortgage broker agents.
"We are pleased that this alliance will provide us with an opportunity to deliver our mortgage program to one of Canada's largest and premiere independent broker networks," said Mario Causarano, President and COO of AGF Trust.
"Having AGF Trust's mortgage program on our platform will provide our brokers with some of the most competitively priced and innovative products in the mortgage arena, increasing our ability to help our clients with their mortgage needs," said John Kelly, Chief Operating Officer of VERICO.
The program is expected to launch in early 2011.
With approximately $4 billion in total assets, AGF Trust serves over 13,000 financial advisors, insurance agents and mortgage brokers. AGF products include first and second mortgages, RSP loans and term deposits. AGF Trust is a subsidiary of AGF Management Limited.
About AGF Management Limited
AGF Management Limited is one of Canada's premier investment solutions firms with offices across Canada and subsidiaries around the world. AGF's products and services include a diversified family of award-winning mutual funds, AGF Elements portfolios, the Harmony asset management program, services for institutional and private clients, as well as AGF Trust GICs, loans and mortgages. With approximately $43 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.
VERICO Canada is a federally incorporated management company. The company has special expertise and knowledge in the financial services and mortgage brokering industries. VERICO Canada manages the VERICO Brokers Network and the VERICO Lenders Network. The VERICO Mortgage Brokers Network is a national network of independently owned and operated mortgage broker firms that meet the networks professional and business standards. The VERICO network is expected to fund in excess of $9 billion dollars in mortgages throughout Canada in 2010.
For further information: For further information:
Media please contact:
Director, Public Relations & Public Affairs