Québec-based provider of group scholarship plans brings 47 years of
expertise to national group
TORONTO, May 16 /CNW/ - The RESP Dealers Association of Canada
("RESPDAC") has announced that Universitas Management Inc.
("Universitas"), a large provider of group and individual registered
education savings plans, has decided to rejoin the association after
eight years as a non-member. Their membership will become effective
on July 1st, 2011.
"The current three members of RESPDAC are genuinely delighted that
Universitas is coming back into the association," said Peter Lewis,
Chair of RESPDAC. "We have a very high regard for their integrity and
reputation, and their unique position in the group education savings
"We look forward to working together with Universitas to further promote
the concept and benefits of saving for post-secondary education with
governments, regulators, stakeholders in the education sector and above
all, Canadian families."
Universitas was one of the founding members of RESPDAC in 2000.
However, as the objectives of Universitas were different from those of
the other members at the time, the company decided to leave the
association in 2002.
"Even after leaving the group, we have had very cordial relations with
the members of RESPDAC," said Richard Garneau, Chief Executive Officer
of Universitas. "Now, having firmly established our business in Quebec
and New-Brunswick, we are planning to expand into Ontario, and will be
dealing with more than just the governments and regulatory agencies of
Québec and New Brunswick. Working together on government relations and
advocacy with RESPDAC makes good business sense."
With the addition of Universitas, the RESP Dealers Association now
includes four of the leading providers of group education savings
plans. As opposed to individual plans (which are offered by banks,
insurance and mutual fund companies - as well as RESPDAC members),
group plans are exclusive to six providers in Canada. These plans are
particularly popular with Canadian families who prefer to deposit their
funds on a set schedule, and have them invested in secure investment
vehicles such as government bonds, treasury bills and guaranteed income
Universitas Management Inc. will bring the total volume of assets under
management represented by RESPDAC members, to nearly $8 billion. This
amount accounts for approximately one-third of the total amount of
Canadian families' savings in registered education savings plans,
across the country.
SOURCE RESP Dealers Association of Canada
For further information:
RESP Dealers Association of Canada
Vice President, Corporate Affairs
Gestion Universitas inc.
418.651.8977 Ext. 2244
Toll-free: 1.888.651.8975 Ext. 2244