Corporate Update - February 28, 2013
PI COMPLETES ACQUISITION OF CLIENT ACCOUNTS OF UNION SECURITIES LTD AND BECOMES ONE OF BC’S LARGEST INVESTMENT DEALERS
On October 15, 2012, PI Financial Corp successfully completed the acquisition of the client accounts of Union Securities Ltd. As a result of the transaction, PI has also entered the commodities futures business and has expanded with new offices in Regina, Winnipeg and a second Vancouver office. The firm has added over 60 Investment Advisors to its Private Client Services team and now has over 150 IA’s in seven offices from Victoria east to Toronto.
According to a recent survey conducted by Business In Vancouver newspaper, PI is now the largest private, employee-owned investment dealer in BC. PI is also the leading independent commodities futures broker in Canada.
“Our strong capital position and financial results during these difficult market conditions provide our clients with stability and will enable us to grow further in the months to come,” says Max Meier, co-founder, Chairman & CEO. “We continue to seek opportunities for further consolidation to fulfill our strategy of becoming one of Canada’s leading independent investment dealers.”
Now in its 31st year of operations, PI provides investment advice and service to over 39,000 clients with approximately $2.5 billion in client assets under administration. As a fully integrated investment dealer, PI offers both Private Client Services and a comprehensive Capital Markets platform with over 40 professionals.