IGM Financial

IGM Financial Inc. (TSX: IGM) is one of Canada's leading diversified wealth and asset management companies with $160.7 billion in total assets under management as at March 31, 2019. The company's network of advisors provides a broad range of financial and investment planning services. Its activities are carried out principally through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel. [1] It is a publicly traded subsidiary of Power Corporation of Canada. It is considered one of the Big Three independent investment management companies in Canada, along with CI Financial and Fiera Capital.[4][5][6]

IGM Financial Inc.
TypePublic
TSX: IGM
S&P/TSX Composite Component
IndustryFinancial services
Founded1926
Headquarters
Winnipeg, Manitoba
,
Canada
Key people
Jeffrey R. Carney - President & CEO

Luke Gould - EVP, CFO

Rhonda Goldberg - EVP, General Counsel
ServicesInvestment, Retirement, Estate, and Tax Planning
AUMC$133.6 billion (2015)[1]
OwnerPower Financial (62.1%)[2]
Number of employees
3,300 (2020)[3]
Websitewww.igmfinancial.com

History

The company was founded in 1926 as Investors Syndicate. In 1966 Clarence E. Atchison became the second President of Investors Group for which there is an award in his name at the University of Winnipeg. Clarence was also instrumental in the donation of the Ox and Cart at the Assiniboine Park in Winnipeg.[7][8][9]

It was acquired by Power Financial Corporation, the financial services arm of Power Corporation, in 1986 and changed its name to Investors Group. It merged with Mackenzie in 2001 to form IGM Financial.

Current Services

The company offers financial planning such as retirement, estate, tax planning, mutual funds and a range of other investment products and financial services. It offers brokerage services through Investors Group Securities Inc. (IGSI), full suite of insurance products, mortgages, and banking.

In October 2008, IGM's IG Wealth Management (formerly Investors Group Inc). was named one of Manitoba's Top Employers, which was announced by the Winnipeg Free Press newspaper.[10]

IG Wealth Management (formerly Investors Group Inc) owns the naming rights to two sports venues located on the University of Manitoba campus in Winnipeg— IG Field, home to the Winnipeg Blue Bombers and Manitoba Bisons, and Investors Group Athletic Centre, home to the Bisons basketball and volleyball programs.[11]

Company structure

IGM owns 100% of IG Wealth Management (formerly Investors Group Inc), 100% of Mackenzie Financial Corporation and 97.82% of Investment Planning Counsel Inc.

IGM is 61.4% owned by Power Financial.[12]

Financial highlights

Total assets under management (at year end) have expanded from $101.7 billion in 2008 to $118.7 billion in 2011 which placed it above Assante Corp. of Winnipeg at the time.[13]

Operating earnings have increased from $766 million in 2008 to $833 million in 2011.

Dividends per share have also increased from $2.00 in 2008 to $2.10 in 2011.[14] In October 2017, It was reported that IGM Financial Inc.(TSE:IGM)’s share price reached 52-week high at $43.05 during trading.[15]

References
  1. "Archived copy" (PDF). Archived from the original (PDF) on 2016-10-22. Retrieved 2016-04-13.CS1 maint: archived copy as title (link)
  2. "Organization Chart". Power Corporation of Canada. Retrieved August 23, 2020.
  3. "Company Profile for IGM Financial Inc". Retrieved 2020-12-20.
  4. "IGM Financial Inc". The Globe and Mail. Retrieved 2020-12-20.
  5. "CI Financial Corp". The Globe and Mail. Retrieved 2020-12-20.
  6. "Fiera Capital". Linkedin. Retrieved 2020-12-20.
  7. "IG Wealth Management History".
  8. "Clarence Atchison Award for Excellence in Community Service".
  9. "Historic Manitoba Historical Society, Sites of Manitoba: Red River Ox Cart (Assiniboine Park, Winnipeg)".
  10. "Reasons for Selection, 2009 Manitoba's Top 20 Employers Competition".
  11. "New stadium to be named Investors Group Field".
  12. https://www.powercorporation.com/media/uploads/reports/quarter/pcc_2018_q3_eng.pdf
  13. "CI Fund Management snaps up two finance companies".
  14. "Archived copy" (PDF). Archived from the original (PDF) on 2014-08-16. Retrieved 2013-03-21.CS1 maint: archived copy as title (link)
  15. Martinez, Linda (2017-10-04). "IGM Financial Inc. (IGM) Reaches New 52-Week High at $43.05". Marea Informative. Archived from the original on 2017-10-10. Retrieved 2017-10-10.
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