iA Financial Group completes acquisition of assets of Laurentian Bank Securities' retail division

QUEBEC CITY, Aug. 6, 2024 /CNW/ - iA Financial Group (TSX: IAG), through its subsidiary iA Private Wealth Inc. ("iAPW" or "iA Private Wealth"), announced today that it has completed the acquisition of assets of the retail full-service investment broker division of Laurentian Bank Securities Inc. ("LBS"), as initially announced on April 4, 2024.

The retail full-service broker division of LBS manages more than $2 billion in assets under administration. As a result of the transaction, approximately 15,000 client accounts have been transferred, with some 25 advisors joining iAPW's network.

"The closing of this transaction marks another important milestone for iA Private Wealth, fostering the growth of our network as we welcome newly joining advisors and empower them to continue delivering high-quality financial guidance to their clients," said Stephan Bourbonnais, Executive Vice-President, Wealth Management at iA Financial Group and CEO of iAPW. "iA Private Wealth is also pleased to welcome the new clients and is dedicated to providing unparalleled support to secure their financial future."

The acquisition, the value of which remains undisclosed, only has a marginal impact on iA Financial Group's solvency ratio.

Forward-Looking Statements

This document may contain statements relating to strategies used by iA Financial Group or statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "may", "will", "could", "should", "would", "suspect", "expect", "anticipate", "intend", "plan", "believe", "estimate" and "continue" (or the negative thereof), as well as words such as "objective", "goal", "guidance", "outlook" and "forecast", or other similar words or expressions. Such statements constitute forward-looking statements within the meaning of securities laws. In this document, forward-looking statements include, but are not limited to, information concerning the future operating results and expected benefits of the transaction. These statements are not historical facts; they represent only expectations, estimates and projections regarding future events and are subject to change.

Although iA Financial Group believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. More specifically, the transaction is subject to the risk and uncertainty of whether and to what extent iA would realize the expected benefits of the transaction.

Additional information about the material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the "Risk Management" section of the Management's Discussion and Analysis for 2023, the "Management of Risks Associated with Financial Instruments" note to the audited consolidated financial statements for the year ended December 31, 2023 and elsewhere in iA Financial Group's filings with the Canadian Securities Administrators, which are available for review at sedarplus.ca.

The forward-looking statements in this document reflect iA Financial Group's expectations as of the date of this document. iA Financial Group does not undertake to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events, except as required by law.

About iA Financial Group

iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares).

About iA Private Wealth

iA Private Wealth offers customized wealth management solutions through a network of more than 460 independent investment advisor teams. With over $50 billion in assets under administration, iA Private Wealth is the partner of choice for investors across Canada.

iA Financial Group is a business name and trademark of iA Financial Corporation Inc. and Industrial Alliance Insurance and Financial Services Inc.

SOURCE iA Financial Group

Information: Investor Relations, Marie-Annick Bonneau, Office phone: [phone], ext. 104287, Email: [email protected]; Public Relations, Pierre Picard, Office phone: 418-684‐5000, ext. 101660, Email: [email protected]