Financial Horizons Group announced Friday that it has “strengthened its presence in Eastern Canada” by acquiring an established MGA in the area.
Estate Financial Inc., based in New Brunswick, has operated in Eastern Canada since 1999. Under a deal between Financial Horizons and Estate Financial that closed Feb. 1, the former purchased 100% of the latter’s shares.
Following the transaction, Estate Financial president Andrée McLean and director of brokerage Joe Daley will remain in their current positions to provide sales support and service to advisors, a release said.
“This acquisition is another strategic step in the growth of Financial Horizons Group as the leading MGA and financial services company in Canada,” said Financial Horizons president John Hamilton in an announcement. “The addition of Estate Financial significantly increases our presence in the MGA marketplace in Eastern Canada.”
McLean detailed that Estate Financial chose to sell since the company “required a more diversified product offering,” determining that Financial Horizons would be the best choice.
“We are very pleased to join this great organization and are very excited about the future,” McLean said.
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