iA Financial Group announced Tuesday that it has completed its acquisition of BMO Group Retirement Services Inc. (GRS)—a former BMO Financial Group subsidiary that provides recordkeeping and administrative services for group retirement plans.
"Our Group Savings and Retirement sector is proud to contribute to our company's growth through this acquisition, which comes following eight others announced by iA Financial Group and its subsidiaries since the beginning of 2015," said GRS executive vice-president Renée Laflamme. "This demonstrates the important role of acquisitions in the continued success of our initiatives to grow our organization."
"The expertise and agility we have acquired in integrating new groups over the last few years, combined with the close collaboration of BMO, has enabled us to offer these new clients an exceptionally smooth transition,” commented Nancy Dion, Senior Director of Administration for IA Financial Group’s Group Savings and Retirement. “We are very pleased to welcome them and want them to know they can count on high-quality, professional service from everyone on our teams."
The transfer of GRS’ group retirement plans to iA’s began on March 22 and are being carried out over a 120-day transition period. After the transition is fully completed, GRS’ business operations will be wound up.
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