IDC Worldsource Insurance Network Inc. acquires MGA Assets from AFL Groupe Financier Inc.

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The acquisition of assets strengthens the company’s growing presence in Quebec

TORONTO, Oct. 04, 2021 (GLOBE NEWSWIRE) – Guardian Capital Group Limited (Guardian) (TSX: GCG) (TSX: GCG.A) today announced that its subsidiary, IDC Worldsource Insurance Network Inc. (IDC WIN) , has acquired the life and health insurance and segregated fund assets of AFL Groupe Financier Inc. (AFL), a general management agency (AGG) headquartered in Quebec City, Quebec.

Christian Laroche, President, Quebec Operations, IDC WIN, will assume the direction of AFL-related affairs, with Lyne Lapointe, the current AFL Executive Vice-President, ensuring business continuity for both the team and affiliated AFL advisers.

“This transaction reinforces IDC WIN’s stated goal of being the premier MGA of the independent advisory network in Canada,” said George Mavroudis, President and CEO, Guardian Capital Group Limited.

“This is an exciting next step in the strategic direction of IDC WIN,” said Phil Marsillo, President of IDC WIN. “The addition of AFL’s activities will expand our reach in Quebec, adding to our already strong presence in Quebec and further demonstrating our commitment to the province.

“We are extremely excited to add to our growing IDC WIN family in Quebec, under the leadership of Christian Laroche,” said Paul Brown, President and CEO of IDC WIN.

AFL offices will continue to receive the full support of their management team and staff, who share both a commitment to collaboration and in-depth industry knowledge and experience.

“We are thrilled to be part of the IDC WIN family,” said Ms. Lapointe. “We look forward to what we can accomplish together as a leading independent consulting MGA. “

The transaction was closed today.

For more information, please contact:

Angela Shim
(416) 947-8009

About Guardian Capital Group Limited
Guardian Capital Group Limited (Guardian) is a diversified global financial services company operating in two main lines of business: asset management and wealth management. As of June 30, 2021, Guardian had C $ 52 billion in assets under management and C $ 30 billion in assets under administration. Guardian provides comprehensive financial solutions for institutional and private wealth management to its clients, while providing comprehensive wealth management services to financial advisors in its national network of mutual fund dealers, investment dealers and distribution companies. insurance. It also maintains and manages an exclusive investment portfolio with a fair market value of C $ 698 million as of June 30, 2021. Founded in 1962, Guardian’s reputation for steady growth, long-term relationships and core values reliability, integrity and stability have been key to its success for six decades. Its common and Class A shares are listed on the Toronto Stock Exchange under the names GCG and GCG.A, respectively. To learn more about Guardian, visit www.guardiancapital.com.

About IDC Worldsource Insurance Network Inc.
IDC Worldsource Insurance Network Inc. is one of the leading general life insurance management agencies in Canada, serving advisors across the country, through partnerships with more than 15 major insurers. IDC WIN prides itself on its service, knowledge and commitment to the Canadian insurance industry, bringing special attention and exceptional performance standards to all areas of its processes. IDC Worldsource Insurance Network Inc. is a division of Worldsource Wealth Management Inc., a wholly owned subsidiary of Guardian Capital Group Limited.

About AFL Financial Group Inc.
AFL Groupe Financier Inc. (AFL) is a general group insurance and life insurance management agency based in Quebec, Quebec, with more than three decades of history serving the needs of advisors based in Quebec. AFL offers specialized expertise in the field of life insurance and group insurance. AFL works closely with a select list of industry-leading insurers offering a full range of insurance and investment products.


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