TORONTO, Oct. 27 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV: TSX)
announces that its wholly-owned subsidiary Jovian Wealth Management Inc. will
be changing its name to MGI Wealth Inc. MGI Wealth Inc. will be the direct
parent company of MGI Securities Inc., Jovian's investment dealer subsidiary,
as well as of Jovian's mutual fund dealer subsidiary, Rice Financial Group
Inc., which will be changing its name to MGI Financial Inc. Following these
changes, MGI Financial Inc. and MGI Securities Inc. will be co-branded under
the MGI WEALTH banner. These changes are subject to receipt of all necessary
approvals and may take up to several months for all aspects of these changes
to be fully implemented.
"The MGI name is well known in Ontario, and we feel that this change will
assist our ongoing expansion into that market," said Dave Velanoff, Rice
Financial Group Inc.'s President and C.E.O.
Philip Armstrong, Jovian's C.E.O. added, "We believe that the new MGI
WEALTH brand, encompassing over 200 advisors, nearly 80,000 clients and
$5.2 billion in assets under administration, will significantly strengthen our
presence across Canada."
About Rice Financial Group Inc. (www.ricefinancial.com)
Rice Financial is a community-based organization committed to helping
Canadian investors of all levels achieve financial security and peace of mind
at every stage of their lives by providing convenient and flexible financial
solutions that respond to each client's individual needs. A network of branch
and associate offices stretches from B.C. to New Brunswick, serving more than
70,000 clients and advising assets of nearly $4.0 billion.
About MGI Securities Inc. (www.mgisecurities.com)
MGI is an investment dealer firm, providing a comprehensive range of
specialized services and wealth management solutions for individual investors.
With offices in Toronto, Winnipeg, Calgary and London, Ontario.
About Jovian Capital Corporation (www.joviancapital.com)
Jovian acquires, creates and grows financial services companies
specializing in wealth and asset management. The Jovian group of companies
(MGI Securities Inc., MGI Securities (USA) Inc., Rice Financial Group Inc.,
BetaPro Management Inc., Horizons Funds Inc., JovFunds Management Inc.,
JovFunds Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc.,
T.E. Wealth and Felcom Data Services Inc.) manages $14.0 billion of client
assets ($6.0 billion in assets under management and $8.0 billion in assets
under administration). Additional information is available at
www.joviancapital.com and www.sedar.com.
For further information:
For further information: Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744; or Mark Arthur, President, Jovian Capital
Corporation, (416) 933-5754