Navacord broker partners merge

Two major deals announced

Navacord broker partners merge

Mergers & Acquisitions

By Terry Gangcuangco

Four Navacord broker partners have merged in two separate deals.

Western Canadian partners Dehoney Financial Group (DFG) and Arbutus Financial Services (AFS) have united to form Waypoint Benefits & Financial Services, with former DFG president Erin Gunn and ex-AFS president Neil Menzies to serve as president and financial services vice president, respectively.

Gunn noted: “We recognized the next important step in our respective evolutions was to join forces. Our teams were already collaborating on client-based projects and witnessing the benefits of offering an expanded team of dedicated specialists and complementary solutions.

“By coming together, we provide our valued clients with unparalleled advice and risk management services.”

Menzies added: “Aligning this new partnership under the Waypoint brand enables us to achieve our goals, while providing the best opportunities and outcomes for the future of our employees, clients, partners, and the communities we serve.”

Boasting a team of over 800 professionals and more than $1 billion in assets under management, the Waypoint brand – now encompassing both Waypoint Insurance and Waypoint Benefits & Financial Services – is Navacord’s largest broker partner in Canada.

Tony Hayes, chief executive of Waypoint Insurance, commented: “We are excited to have these proudly local, highly regarded Navacord partners unite and strengthen the Waypoint brand. Their generational growth, entrepreneurial spirit, and exceptional track record with client satisfaction aligns with our core values, and we look forward to expanding our services together in Western Canada.”

Meanwhile Navacord broker partners Paisley Partners and Lyon & Butler Insurance Brokers also merged, with Lyon & Butler rebranding to Paisley Partners.

Based in North York and Vaughan, respectively, Paisley Partners and Lyon & Butler bring a wealth of experience and aligned values to the partnership.

Lyon & Butler, with industry roots dating back to the late 1800s, is well-known for its specialization in construction, commercial realty, transportation, and retail sectors.

Paisley Partners, another long-established brokerage with a 1923 founding date, was itself the result of a merger between Paisley Manor and Partners Indemnity in 2021. Known for its focus on complex commercial insurance and high-net-worth client solutions, Paisley Partners will continue to leverage this expertise within the merged entity.

“We are excited to welcome Lyon & Butler under the Paisley Partners name,” said Paisley Partners president and CEO Ewen Cameron. “Both firms have a proud history of serving clients with personalized care and industry-leading solutions.

“By coming together, we are creating a stronger, more dynamic brokerage that is uniquely positioned to provide exceptional value and service across all client segments, from high-net-worth individuals to specialized commercial sectors.”

For Lyon & Butler president Corey Arndt, the merger is an opportunity to continue delivering trusted service while gaining new strengths.

“We can offer our clients a broader range of solutions and deepen our presence in the markets we serve, with the objective of maintaining the personalized approach that has set us apart in the industry for generations,” Arndt declared.

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