Investment Planning Counsel (IPC) has entered into an agreement with Independent Planning Group (IPG) to purchase the shares of IPG.
The transaction is subject to regulatory approvals and other conditions and is expected to close later this year.
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As a part of the deal IPC will acquire IPG, an MFDA dealership, Virtuco Technologies and IPG Insurance, an MGA.
In addition, IPC Portfolio Services (IPCPSI), a subsidiary of IPC, has entered into an agreement to purchase Brigata Capital Management, an investment fund manager.
IPCPSI intends to amalgamate Brigata Capital with Counsel Portfolio Services, a wholly owned subsidiary of IPCPSI, immediately after completion of the deal.
The deal is subject to regulatory approvals and other conditions, including the approval of the unitholders of Brigata Diversified Portfolio with respect to the change of its manager, and is expected to close later this year.
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By GlobalDataChris Reynolds, president & CEO of IPC, said: "We are delighted to welcome the Advisors of Independent Planning Group to the IPC family. Both IPC and IPG share a similar philosophy and a common culture, which makes IPC a very good, fit for them to continue to grow their business."
Vince Valenti, president of IPG, said: "We believe the strong firm which IPG is today can be even more successful in the hands of a partner with the kind of depth and experience which characterizes Investment Planning Counsel."
