Value Partners Group Inc. reaches deal with Canada Life

June 13, 2023

Acquisition aligns with Value Partners Group Inc. mission to improve the lives of Canadians.

On June 13, 2023, Value Partners Group Inc. (Value Partners or VPGI) reached a deal to sell 100% of its shares to The Canada Life Assurance Company (Canada Life).

Why partner with Canada Life?

Since its inception, Value Partners has dedicated itself to improving the lives of Canadians by investing wisely. Over this time, we have accomplished this goal for thousands of families across the country by solving their unique and complex financial needs. Partnering with Canada Life will help us continue doing so, and accelerates our progress towards achieving this goal for even more Canadians in the years to come. By leveraging over 4000 advisor relationships and $89 billion in assets under administration, Canada Life and Value Partners will work together to help clients achieve their financial goals.

Canada Life is a leading insurance and financial services company committed to helping the advisors and clients they serve. Today, one in three Canadians trust Canada Life with their financial, physical and mental well-being. As a part of their mission to build the leading wealth management platform for independent advisors and their clients, Canada Life has recently acquired Investment Planning Counsel, and now Value Partners Group Inc.

How does this align with our long-term growth strategy?

Canada Life shares our long-term vision and values. They’re committed to maintaining the aspects of our business that makes us unique, while providing us with resources to serve more Canadians. We’ll maintain our strong culture and support model by continuing to operate with our existing people and leadership team in place, but with the added backing of a strong, recognizable brand with 175 years of history serving clients.

We expect the transaction to occur later this year, subject to customary closing conditions including regulator approval. Together, these firms have the network, experience, and capabilities to greatly enhance their offerings and better serve the needs of advisors and clients across Canada.

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Gregg Filmon

President, Value Partners Investments

“We started Value Partners to improve the lives of families across Canada by partnering with the best advisors and investing in the best businesses. Today, our clients have $1.45 Billion more than they initially invested. Together with Canada Life’s world class insurance and investment products and exceptional advisors, we are going to help far more Canadians build their wealth.”

Jeff Macoun

Chief Operating Officer, Canada Life

“This acquisition is another step in our efforts to build a leading wealth management platform for independent advisors and their clients in Canada. Value Partners is an excellent complement to our existing wealth business, adding capabilities that will accelerate our strategy."

About Great-West Lifeco Inc.

Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. We operate in Canada, the United States and Europe under the brands Canada Life, Empower, Putnam Investments, and Irish Life. At the end of 2022, our companies had approximately 31,000 employees, 234,500 advisor relationships, and thousands of distribution partners – all serving our more than 38 million client relationships across these regions. Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO and is a member of the Power Corporation of Canada group of companies.

About The Canada Life Assurance Company

The Canada Life Assurance Company is an international company providing insurance, wealth management, and healthcare benefit products and services in Canada, the United Kingdom, Isle of Man and Germany, and in Ireland through Irish Life. Canada Life also provides reinsurance products, though Canada Life Reinsurance, primarily in the U.S., Barbados, Bermuda and Ireland. Canada Life is an industry leader providing Canadians options for personal insurance solutions, including life, health and dental, disability, critical illness, and creditor insurance. As a leading provider of group workplace benefit plans, they help employers and associations provide valuable benefits to their employees and members. In addition, Canada Life offers investments, retirement and wealth management solutions including annuities and segregated funds. For 175 years, individuals, families and business owners across Canada have trusted Canada Life to provide sound guidance and deliver on the promises they've made. Canada Life proudly serves more than 12 million customer relationships from coast to coast to coast. Canada Life is a subsidiary of Great-West Lifeco Inc. and a member of the Power Corporation of Canada group of companies.

About Value Partners Group Inc.

Value Partners Group Inc. is an investment firm dedicated to improving the lives of its clients by investing wisely. Since its inception, Value Partners has grown the collective wealth of their clients by more than $1.45 billion* - but more importantly, has helped Canadians achieve their financial goals and retire comfortably without the need to worry about money.

The primary business units of Value Partners Group Inc. are Value Partners Investments, Value Partners Investment Counsel, and LP Financial Planning Services. Together, they provide total wealth management for Canadians. With nine prospectus-qualified retail mutual funds through Value Partners Investments, a discretionary investment management service through Value Partners Investment Counsel, and a mutual fund dealer committed to supporting advisors through LP Financial Planning Services, Value Partners continues to meet the vast wealth management needs of affluent and high-net-worth families across Canada.

 *Wealth created figure in CAD as of June 8, 2023. Source: Value Partners Investments.