Financial company iA set to acquire wealth management firm RF Capital
iA Financial Group Acquires RF Capital Group for $597 Million
iA Financial Corporation has announced a major acquisition, agreeing to purchase RF Capital Group Inc. for a total transaction value of approximately C$597 million.
RF Capital Group is a leading independent wealth management firm in Canada, operating under the Richardson Wealth brand. The company specialises in comprehensive, client-focused financial advisory services aimed at the high-net-worth market, managing assets exceeding C$40 billion under administration (AUA).
The acquisition adds 189 advisors and over C$40 billion AUA to iA Financial’s wealth management network, which will now total about 2,769 advisors and approximately $175 billion in AUA.
iA Financial intends to maintain Richardson Wealth as a distinct brand alongside its existing Investia and iA Wealth brands, each with separate leadership teams, allowing advisors to choose the business model that suits their preferences. This approach underscores iA’s commitment to preserving advisor independence while expanding its presence in target segments and enhancing its scalable distribution model.
The deal reflects iA’s strategic approach to sustainable growth, as stated by its president and CEO, Denis Ricard. The acquisition is expected to close in the last quarter of 2025, subject to approval by RF Capital’s shareholders and regulators.
CIBC Capital Markets and Goodmans acted as advisors and legal counsel for RF Capital, while National Bank Financial and McCarthy Tétrault provided similar services for iA Financial. The purchase price for RF Capital includes a C$370 million valuation for its fully diluted equity, as well as C$227 million related to financial obligations, including revolving debt and preferred shares.
RF Capital’s president and CEO, Dave Kelly, affirmed that the acquisition by iA Financial Group unlocks opportunities in technology, product innovation, and operational scale. Kelly also expressed his confidence that the acquisition will enable RF Capital’s advisors to continue operating independently under the Richardson Wealth brand, backed by iA Financial Group.
The acquisition aligns with iA Financial Group’s ambition to become the top independent wealth manager in Canada and strengthens its position as a leading non-bank wealth platform in the country. iA has emphasised its commitment to the value of advice by empowering advisors with best-in-class tools and preserving their independence.
In conclusion, the acquisition of RF Capital Group by iA Financial Group is a significant step towards the latter's growth in the Canadian wealth management sector. The deal is expected to enhance iA's scalable distribution model, expand its reach in target segments, and provide opportunities for technological advancement and product innovation.
- The acquisition of RF Capital Group, a leading independent wealth management firm focused on high-net-worth clients, by iA Financial Group for $597 million will add AI-driven wealth management capabilities to iA's existing finance and investing services.
- The acquisition of RF Capital Group, a company known for its AI-powered wealth-management services, will enable iA Financial's advisors to leverage advanced technology and product innovation for their clients, aligning with iA's commitment to growth in the Canadian wealth management sector.
- With the acquisition of RF Capital Group, a dominant player in AI-driven wealth management, iA Financial Group strengthens its position as a leading non-bank wealth platform in Canada, aiming to become the top independent wealth manager with a scalable distribution model and an expanded reach in target segments.
