IGM is one of the largest financial services companies in Quebec with more than $ 35 billion in assets under management across the province. Paquin said his senior management knows that growth has to come from within if it is to gain more of the market, but its transformation is advanced enough to take advantage of it.
“We have put so much work into building a consulting model and investing resources into our transformation over the past five years that it seems like everything is going to fit together and we are starting to see this in our AUM results. We had historic AUM growth in the third quarter. So it seems that the planets are starting to align. It’s extremely motivating, ”he said. “We have very strong leaders at both Mackenzie and IG Wealth. So now we have to implement our plan and I am very confident of what that will do for us. “
Paquin said IG Wealth and Mackenzie are doing very well in Quebec, but the company’s presidents agreed on how to approach the French market there to create the right environment for further growth. The companies had undergone “one of the most ambitious transformations in the Canadian industry” to a customer-centric model for both wealth management and wealth management that offers consumers more advice – which, according to Paquin, has placed them “very competitive today” “.
IG Wealth has adopted a holistic model with financial planning advisors and experts such as tax and estate planning. Paquin said it had a record increase in customer numbers in 2020, which accelerated in 2021, but now he wants to expand that to his branches.
Mackenzie jumped from 13th to 2nd place in Quebec. It also made three large acquisitions during the pandemic – Northleaf in private markets and alternative products, GLC Asset Management Group in retirement planning, and Greenchip in sustainability investing.