Scotiabank sells HollisWealth to Industrial Alliance
On December 5, 2016, Industrial Alliance Insurance and Financial Services Inc. and The Bank of Nova Scotia announced that they reached an agreement for Industrial Alliance to acquire HollisWealth, a leading Canadian financial network, from Scotiabank.
The closing of the transaction was announced on August 8, 2017.
HollisWealth provides diversified investment and wealth management services to individuals, families and corporations. They are the fourth-largest independent advisor network in Canada, with C$34 billion in assets under administration.
Industrial Alliance offers life and health insurance products, mutual and segregated funds, savings and retirement plans, securities, auto and home insurance, mortgages and car loans and other financial products and services for both individuals and groups. It is one of the four largest life and health insurance companies in Canada and one of the largest publicly-traded companies in the country.
Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific.
Further information can be found on Canada Newswire's website.