Under the terms of the deal, the acquired enterprise will be merged with Counsel Portfolio Services, a wholly owned subsidiary of IPCPSI.
The proposed transaction is associated with IPC’s parallel transaction to buy the shares of Independent Planning Group (IPG), IPG Insurance and Virtuco Technologies.
Brigata Capital and IPG president Vince Valenti said that the deal will offer its investors and advisors with a higher level of value, among other benefits.
The transaction is likely to conclude shortly, if approved by unit holders, and assuming the satisfaction of all other conditions, including concerned regulatory approvals.
Brigata Capital, through its mutual fund the Brigata Diversified Portfolio, manages nearly $45m of assets under management (AUM).
Founded in 1994 and trading as a mutual fund dealer, IPG services more than 200 financial advisors in Ontario, Quebec and British Columbia with over $2bn in AUM.
