MacDougall, MacDougall & MacTier is buying three Desjardins Securities branches in Ontario.

The deal includes the transfer of branch employees and clients. It also gives 3Macs advisors access to Desjardins wealth management products and includes an opportunity for Desjardins to exercise a minority ownership interest in 3Macs in the coming year.

Read: Desjardins to buy State Farm Canada’s business

The parties say the transaction will enhance the footprint of 3Macs in Ontario and allow Desjardins to distribute its products more widely across the country.

Read: New asset management firm comes to Canada

“Desjardins is committed to growing across Canada and this agreement gives us more opportunity to focus on one of our strategic priorities to expand the distribution of our products,” says Vincent Hogue, senior vice-president and head of Private Client Services at Desjardins Securities.

Read: Desjardins launches Guaranteed Investment Funds

See Why 3Macs bought Desjardins’ branches for more.

Originally published on Advisor.ca

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