Three managing general agencies in the benefits, pension and investment industries are combining forces.
The firms — Financial Horizons Group, headquartered in Kitchener, Ont.; Torce Financial Group Inc., based in the greater Toronto area; and Vance Financial Group Inc. from Vancouver — will join forces to build on the strengths of their operations and advisor networks, according to a press release.
“Ultimately, we believe that this creates great opportunities for advisors and their clients,” said Nick Pszeniczny, chief executive officer of Financial Horizons Group.
Read: Financial Horizons Group shakes up leadership team
With the merger, Torce and Vance will benefit from the Financial Horizon Group’s offering of a range of financial services and products to Canadian advisors. “This is a great opportunity for our advisors to leverage the highest quality products, services and premier solutions,” said David Ho, principal at Torce. “I look forward to continued growth and working with Nick and his team.”
Ho will maintain his role as president of the Torce and Vance businesses, and there will be no change to the management teams of the companies.
The transaction was completed by Financial Horizons Group purchasing all Torce and Vance shares on Aug. 1, 2019.
Read: Morneau Shepell closes acquisition of some of Mercer’s U.S. health, DB businesses