Financial Horizons buys another MGA

Financial Horizons has bought Ottawa MGA R.G. Packman and Associates.

Packman’s day-to-day operations will continue as they are, and management, office, and staff will remain essentially unchanged, says Financial Horizons.

In the past seven months, Financial has also bought Performance Financial Services, of Saskatchewan, Edmonton’s Belec and Company, Montreal’s Marcolin and Associates, and Victoria, B.C.’s S&V Planning Corporation.

Based in Kitchener, Ont., Financial Horizons provides life insurance products and support to more than 9,000 advisors Canada-wide.

Read: Financial Horizons acquires Performance Financial

Packman’s advisor clients are in Ontario, British Columbia, Quebec and Atlantic Canada. It was founded in 1999.

The transaction closed on February 28. The companies did not disclose the cost of the deal, but Packman received cash and shares in Financial Horizons’ holding company in the sale.

Also read:

Financial Horizons acquires MGA

Financial Horizons buys Montreal MGA

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.