Canada's mutual fund dealer Worldsource Financial Management (WFM) has reached an agreement to integrate branches and advisor representatives of Select Financial Services (SFS) into its branch network.
Expected to take place in early February, the integration of SFS’s branches will add 19 mutual fund representatives and approximately $190m of assets under administration (AUA) to WFM’s advisor base in Ontario.
Select Financial Services president Deryl Drysdale, said, "The transition to WFM will support the growth of both organizations, and allow SFS”s advisor base to thrive in a large scale independent dealership that offers the support we require in this market environment."
Serving as a group of independent professional advisors focused on providing customized financial planning for their clients throughout southwestern Ontario, SFS has recently notified plans to resign its membership in the Mutual Fund Dealers Association of Canada.
WFM provides a wide range of innovative services to support its national independent advisor network.