IA Financial Group has launched a Canadian-based registered investment advisor (RIA) to better serve cross-border clients, the firm said in a release on Thursday.
The new firm, IA Private Wealth (USA) Inc., is a sister company to iA Private Wealth Inc. and offers integrated cross-border wealth management services, the release said.
In an emailed statement, an IA spokesperson said the RIA’s business registration with the Securities and Exchange Commission was effective July 2022, with certain regulatory requirements being finalized last week.
Investment advisors registered with the RIA will be dual-licensed in Canada and the U.S., while providing all client service from their Canadian offices, the release said.
For clearing and settlement, the RIA will use Bank of New York Mellon’s Pershing Custodial Services. The Pershing platform handles client onboarding and multi-current accounts, among other operations, helping to streamline front-, middle- and back-office activities.
“An integrated platform that is flexible and scalable for brokerage custody is the key to becoming a premier wealth management firm, and we have that in our partnership with Pershing,” said Mark Robinson, chief operating officer with iA Private Wealth (USA), in the release.