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Yahoo
2 days ago
- Business
- Yahoo
Top TSX Dividend Stocks To Consider In August 2025
As the Canadian market navigates an environment of improving labour productivity and contained unit labour costs, investors are keenly watching how these factors might influence consumer spending and economic stability. With corporate earnings showing robust growth, particularly in sectors like communications and technology, dividend stocks on the TSX present a compelling opportunity for those seeking stable income amidst a backdrop of mixed bond yields and potential interest rate adjustments by the Bank of Canada. Top 10 Dividend Stocks In Canada Name Dividend Yield Dividend Rating Sun Life Financial (TSX:SLF) 4.43% ★★★★★☆ Russel Metals (TSX:RUS) 4.25% ★★★★★☆ Royal Bank of Canada (TSX:RY) 3.32% ★★★★★☆ Power Corporation of Canada (TSX:POW) 4.29% ★★★★★☆ North West (TSX:NWC) 3.27% ★★★★★☆ National Bank of Canada (TSX:NA) 3.19% ★★★★★☆ Magna International (TSX:MG) 4.40% ★★★★★☆ Canadian Natural Resources (TSX:CNQ) 5.71% ★★★★★☆ Canadian Imperial Bank of Commerce (TSX:CM) 3.85% ★★★★★☆ Bank of Montreal (TSX:BMO) 4.18% ★★★★★☆ Click here to see the full list of 21 stocks from our Top TSX Dividend Stocks screener. Let's take a closer look at a couple of our picks from the screened companies. IGM Financial Simply Wall St Dividend Rating: ★★★★☆☆ Overview: IGM Financial Inc. operates in the asset management industry in Canada, with a market cap of CA$11.23 billion. Operations: IGM Financial Inc. generates its revenue primarily from two segments: Asset Management, contributing CA$1.30 billion, and Wealth Management, which accounts for CA$2.57 billion. Dividend Yield: 4.7% IGM Financial's dividend payments are supported by a reasonable payout ratio of 54.7% and cash flow coverage of 56.5%, ensuring sustainability despite the lack of growth over the past decade. The dividend yield, at 4.67%, is below the top tier in Canada, yet remains reliable and stable without increase or volatility in recent years. Recent earnings growth and revenue increases reflect financial stability, with Q2 revenue at C$892.72 million and net income at C$246.71 million. Delve into the full analysis dividend report here for a deeper understanding of IGM Financial. Upon reviewing our latest valuation report, IGM Financial's share price might be too pessimistic. Royal Bank of Canada Simply Wall St Dividend Rating: ★★★★★☆ Overview: Royal Bank of Canada is a diversified financial services company operating globally with a market cap of approximately CA$259.36 billion. Operations: Royal Bank of Canada generates revenue from several segments, including Insurance (CA$1.31 billion), Capital Markets (CA$12.56 billion), Personal Banking (CA$16.75 billion), Wealth Management (CA$20.96 billion), and Commercial Banking (CA$6.91 billion). Dividend Yield: 3.3% Royal Bank of Canada's dividends are well-covered with a payout ratio of 46.1%, ensuring reliability over the past decade. Despite offering a dividend yield of 3.32%, which is lower than Canada's top-tier payers, the bank's consistent earnings growth and strategic initiatives, like its recent fixed-income offerings and collaboration with BDC, underline its financial stability. The recent dividend increase to C$1.54 per share further highlights RBC's commitment to shareholder returns amidst a robust capital management strategy including share buybacks. Dive into the specifics of Royal Bank of Canada here with our thorough dividend report. The analysis detailed in our Royal Bank of Canada valuation report hints at an inflated share price compared to its estimated value. Total Energy Services Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Total Energy Services Inc. is an energy services company operating primarily in Canada, the United States, Australia, and internationally with a market cap of CA$454.41 million. Operations: Total Energy Services Inc. generates revenue through four main segments: Well Servicing (CA$114.23 million), Contract Drilling Services (CA$332.82 million), Compression and Process Services (CA$466.41 million), and Rentals and Transportation Services (CA$77.62 million). Dividend Yield: 3.2% Total Energy Services' dividends are supported by a low payout ratio of 21.9%, indicating strong coverage by earnings and cash flows, with a cash payout ratio of 18.8%. Despite this, the company's dividend history shows volatility over the past decade, marked by significant annual drops. The recent quarterly dividend was C$0.10 per share as of June 30, 2025. While trading below estimated fair value and showing substantial earnings growth recently, its yield remains lower than top-tier Canadian payers at 3.17%. Click here to discover the nuances of Total Energy Services with our detailed analytical dividend report. The analysis detailed in our Total Energy Services valuation report hints at an deflated share price compared to its estimated value. Turning Ideas Into Actions Click through to start exploring the rest of the 18 Top TSX Dividend Stocks now. Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up. Elevate your portfolio with Simply Wall St, the ultimate app for investors seeking global market coverage. Searching for a Fresh Perspective? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include TSX:IGM TSX:RY and TSX:TOT. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Yahoo
04-07-2025
- Business
- Yahoo
IGM FINANCIAL INC. ANNOUNCES JUNE 2025 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS
WINNIPEG, MB, July 4, 2025 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported record high total assets under management and advisement of $283.9 billion at June 30, 2025, up 12.5% from $252.4 billion at June 30, 2024. Total consolidated net inflows were $330 million during June 2025. JUNE HIGHLIGHTS IGM Financial – Record high assets under management & advisement were $283.9 billion up from $278.8 billion in the prior month. Investment fund net sales were $283 million up from net redemptions of $509 million in June 2024. Total net inflows were $330 million up from net outflows of $534 million in June 2024. IG Wealth Management (IGWM) – Record high Assets under advisement were $146.7 billion up from $143.7 billion in the prior month. Investment fund net sales were $181 million up from net redemptions of $216 million in June 2024. Total net inflows were $245 million up from net inflows of $21 million in June 2024. Record high June 2025 gross inflows of $1.4 billion up from $1.2 billion in June 2024. Mackenzie Investments – Record high assets under management were $224.6 billion up from $221.0 billion in the prior month. Investment fund net sales were $102 million up from net redemptions of $293 million in June 2024. Total net sales of $85 million up from net redemptions of $555 million in June 2024. Table 1 - Gross and Net Flows Please see for file with trended history. Wealth Management Asset Management($ millions) (unaudited) IG Wealth ManagementMackenzie Investments IGM Financial For the month ended June 30, 2025 Net flows Mutual fund net sales 181.0(142.6) 38.4ETF net creations 244.9 244.9Investment fund net sales 181.0102.3 283.3Institutional SMA net sales (17.8)(1) (17.8)Managed asset net sales 181.084.5 265.5Other net flows 64.3 64.3 Net flows 245.384.5 329.8 Gross flowsMutual fund gross sales 1,219.4662.4 1,881.8Dealer gross inflows 1,363.6 1,363.6 Table 2 – Assets under Management and Advisement ($ millions) (unaudited) June 2025 May 2025 % ChangeLast Month Wealth ManagementIG Wealth ManagementAssets under management 129,526 126,845 2.1 % Other assets under advisement 17,138 16,834 1.8 % Assets under advisement 146,664 143,679 2.1 % Asset managementMackenzie InvestmentsMutual funds 62,488 61,459 1.7 % ETFs 8,683 8,305 4.6 % Investment funds 71,171 69,764 2.0 % Institutional SMA 12,023 11,630 3.4 % Sub-advisory to Canada Life 54,031 53,741 0.5 % Total Institutional SMA 66,054 65,371 1.0 % Total third party assets under management 137,225 135,135 1.5 % Sub-advisory and AUM to Wealth Management 87,352 85,820 1.8 % Total 224,577 220,955 1.6 % ETF's distributed to third parties 8,683 8,305 4.6 % ETF's held within IGM managed products 10,046 9,761 2.9 % Total ETFs 18,729 18,066 3.7 % TotalAssets under management 266,751 261,980 1.8 % Other assets under advisement 17,138 16,834 1.8 % Assets under management and advisement 283,889 278,814 1.8 % Table 3 – Average Assets under Management and Advisement($ millions) (unaudited) Quarter to date 2025 Wealth ManagementIG Wealth ManagementAssets under management 124,484 Other assets under advisement 16,686 Assets under advisement(2) 141,170 Asset ManagementMackenzie InvestmentsMutual funds 60,261 ETFs 8,104 Investment funds 68,365 Institutional SMA 11,649 Sub-advisory to Canada Life 52,661 Total Institutional SMA 64,310 Total third party assets under management 132,675 Sub-advisory and AUM to Wealth Management 85,248 Total 217,923 ETFs distributed to third parties 8,104 ETFs held within IGM managed products 9,445 Total ETFs 17,549 TotalAssets under management 257,159 Other assets under advisement 16,686 Assets under management and advisement 273,845 1 Excludes sub-advisory to Canada Life and the Wealth Management segment. 2 The figures shown for IG Wealth Management assets under advisement reflect a daily average. For reference, the simple quarterly average based on month end values is $142,276 million. Glossary of Terms Assets Under Management and Advisement (AUM&A) represents the consolidated AUM and AUA of IGM Financial's core businesses IG Wealth Management and Mackenzie Investments. In the Wealth Management segment, AUM is a component part of AUA. All instances where the asset management segment is providing investment management services or distributing its products through the Wealth Management segment are eliminated in our reporting such that there is no double-counting of the same client savings held at IGM Financial's core businesses. AUM&A excludes Investment Planning Counsel's (IPC's) AUM, AUA, sales, redemptions and net flows which have been disclosed as Discontinued operations. Assets Under Advisement (AUA) are the key driver of the Wealth Management segment. AUA are savings and investment products held within client accounts of our Wealth Management segment core businesses. Assets Under Management (AUM) are the key driver of the Asset Management segment. AUM are a secondary driver of revenues and expenses within the Wealth Management segment in relation to its investment management activities. AUM are client assets where we provide investment management services and include investment funds where we are the fund manager, investment advisory mandates to institutions, and other client accounts where we have discretionary portfolio management responsibilities. Mutual fund gross sales and net sales reflect the results of the mutual funds managed by the respective operating companies, and in the case of the Wealth Management segment also include other discretionary portfolio management services provided by the operating companies, including separately managed account programs. ETF's represent exchange traded funds managed by Mackenzie. Institutional SMA represents investment advisory and sub-advisory mandates to institutional investors, pension plans and foundations through separately managed accounts. Other net flows and Other assets under advisement represents financial savings products held within client accounts in the Wealth Management segment that are not invested in products or programs where these operating companies perform investment management activities. These savings products include investment funds managed by third parties, direct investment in equity and fixed income securities and deposit products. Net flows represent the total net contributions, in cash or in kind, to client accounts at the Wealth Management segment and the overall net sales to the Asset Management segment. Wealth Management – Reflects the activities of operating companies primarily focused on providing financial planning and related services to Canadian households and represents the operations of IGWM. IGWM is a retail distribution organization that serves Canadian households through their securities dealers, mutual fund dealers and other subsidiaries licensed to distribute financial products and services. The majority of the revenues of this segment are derived from providing financial advice and distributing financial products and services to Canadian households. This segment also includes the investment management activities of these organizations, including mutual fund management and discretionary portfolio management services. Asset Management – Reflects the activities of operating companies primarily focused on providing investment management services, and represents the operations of Mackenzie Investments. Investment management services are provided to a suite of investment funds that are distributed through third party dealers and financial advisors, and also through institutional advisory mandates to pension and other institutional investors. ABOUT IGM FINANCIAL INC. IGM Financial Inc. ("IGM", TSX: IGM) is a leading Canadian diversified wealth and asset management organization with approximately $284 billion in total assets under management and advisement as of June 30, 2025. The company is committed to bettering the lives of Canadians by better planning and managing their money. To achieve this, IGM provides a broad range of financial planning and investment management services to help approximately two million Canadians meet their financial goals. IGM's activities are carried out principally through IG Wealth Management and Mackenzie Investments and are complimented by strategic positions in wealth managers Rockefeller Capital Management and Wealthsimple and asset managers ChinaAMC and Northleaf Capital. These strengthen IGM's capabilities, reach and diversification. IGM is a member of the Power Corporation group of companies. For more information, visit SOURCE IGM Financial Inc. 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Globe and Mail
04-06-2025
- Business
- Globe and Mail
IGM FINANCIAL INC. ANNOUNCES MAY 2025 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS
WINNIPEG, MB , June 4, 2025 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported record high total assets under management and advisement of $278.8 billion at , up 11.0% from $251.1 billion at May 31, 2024 . Total consolidated net inflows were $190 million during May 2025 . MAY HIGHLIGHTS IGM Financial – Record high assets under management & advisement were $278.8 billion up from $269.5 billion in the prior month. Investment fund net sales were $356 million up from net redemptions of $378 million in May 2024 . Total net inflows were $190 million up from net outflows of $302 million in May 2024 . IG Wealth Management (IGWM) – Assets under advisement were $143.7 billion up from $139.1 billion in the prior month. Record high Investment fund net sales were $250 million up from net redemptions of $127 million in May 2024 . Total net inflows were $65 million up from net outflows of $2 million in May 2024 . Mackenzie Investments – Record high assets under management were $221.0 billion up from $213.7 billion in the prior month. Investment fund net sales were $106 million up from net redemptions of $251 million in May 2024 . Total net sales of $125 million up from net redemptions of $300 million in May 2024 . Table 2 – Assets under Management and Advisement ($ millions) (unaudited) May 2025 April 2025 % Change Last Month Wealth Management IG Wealth Management Assets under management 126,845 122,505 3.5 % Other assets under advisement 16,834 16,546 1.7 % Assets under advisement 143,679 139,051 3.3 % Asset management Mackenzie Investments Mutual funds 61,459 59,351 3.6 % ETFs 8,305 7,896 5.2 % Investment funds 69,764 67,247 3.7 % Institutional SMA 11,630 11,155 4.3 % Sub-advisory to Canada Life 53,741 52,039 3.3 % Total Institutional SMA 65,371 63,194 3.4 % Total third party assets under management 135,135 130,441 3.6 % Sub-advisory and AUM to Wealth Management 85,820 83,305 3.0 % Total 220,955 213,746 3.4 % ETF's distributed to third parties 8,305 7,896 5.2 % ETF's held within IGM managed products 9,761 9,092 7.4 % Total ETFs 18,066 16,988 6.4 % Total Assets under management 261,980 252,946 3.6 % Other assets under advisement 16,834 16,546 1.7 % Assets under management and advisement 278,814 269,492 3.5 % Table 3 - Average Assets under Management and Advisement ($ millions) (unaudited) Quarter to date 2025 Wealth Management IG Wealth Management Assets under management 122,859 Other assets under advisement 16,551 Assets under advisement 139,410 Asset Management Mackenzie Investments Mutual funds 59,556 ETFs 7,914 Investment funds 67,470 Institutional SMA 11,524 Sub-advisory to Canada Life 52,068 Total Institutional SMA 63,592 Total third party assets under management 131,062 Sub-advisory and AUM to Wealth Management 84,543 Total 215,605 ETFs distributed to third parties 7,914 ETFs held within IGM managed products 9,221 Total ETFs 17,135 Total Assets under management 253,921 Other assets under advisement 16,551 Assets under management and advisement 270,472 1 Excludes sub-advisory to Canada Life and the Wealth Management segment. Glossary of Terms Assets Under Management and Advisement (AUM&A) represents the consolidated AUM and AUA of IGM Financial's core businesses IG Wealth Management and Mackenzie Investments. In the Wealth Management segment, AUM is a component part of AUA. All instances where the asset management segment is providing investment management services or distributing its products through the Wealth Management segment are eliminated in our reporting such that there is no double-counting of the same client savings held at IGM Financial's core businesses. AUM&A excludes Investment Planning Counsel's (IPC's) AUM, AUA, sales, redemptions and net flows which have been disclosed as Discontinued operations. Assets Under Advisement (AUA) are the key driver of the Wealth Management segment. AUA are savings and investment products held within client accounts of our Wealth Management segment core businesses. Assets Under Management (AUM) are the key driver of the Asset Management segment. AUM are a secondary driver of revenues and expenses within the Wealth Management segment in relation to its investment management activities. AUM are client assets where we provide investment management services and include investment funds where we are the fund manager, investment advisory mandates to institutions, and other client accounts where we have discretionary portfolio management responsibilities. Mutual fund gross sales and net sales reflect the results of the mutual funds managed by the respective operating companies, and in the case of the Wealth Management segment also include other discretionary portfolio management services provided by the operating companies, including separately managed account programs. ETF's represent exchange traded funds managed by Mackenzie. Institutional SMA represents investment advisory and sub-advisory mandates to institutional investors, pension plans and foundations through separately managed accounts. Other net flows and Other assets under advisement represents financial savings products held within client accounts in the Wealth Management segment that are not invested in products or programs where these operating companies perform investment management activities. These savings products include investment funds managed by third parties, direct investment in equity and fixed income securities and deposit products. Net flows represent the total net contributions, in cash or in kind, to client accounts at the Wealth Management segment and the overall net sales to the Asset Management segment. Wealth Management – Reflects the activities of operating companies primarily focused on providing financial planning and related services to Canadian households and represents the operations of IGWM. IGWM is a retail distribution organization that serves Canadian households through their securities dealers, mutual fund dealers and other subsidiaries licensed to distribute financial products and services. The majority of the revenues of this segment are derived from providing financial advice and distributing financial products and services to Canadian households. This segment also includes the investment management activities of these organizations, including mutual fund management and discretionary portfolio management services. Asset Management – Reflects the activities of operating companies primarily focused on providing investment management services, and represents the operations of Mackenzie Investments. Investment management services are provided to a suite of investment funds that are distributed through third party dealers and financial advisors, and also through institutional advisory mandates to pension and other institutional investors. Discontinued operations - Reflects the activities of Investment Planning Counsel. On April 3, 2023 , IGM Financial announced the sale of 100% of the common shares of Investment Planning Counsel Inc. for cash consideration of $575 million . The transaction closed on November 30, 2023 . ABOUT IGM FINANCIAL INC. IGM Financial Inc. ("IGM", TSX: IGM) is a leading Canadian diversified wealth and asset management organization with approximately $279 billion in total assets under management and advisement as of May 31, 2025 . The company is committed to bettering the lives of Canadians by better planning and managing their money. To achieve this, IGM provides a broad range of financial planning and investment management services to help approximately two million Canadians meet their financial goals. IGM's activities are carried out principally through IG Wealth Management and Mackenzie Investments and are complimented by strategic positions in wealth managers Rockefeller Capital Management and Wealthsimple and asset managers ChinaAMC and Northleaf Capital. These strengthen IGM's capabilities, reach and diversification. IGM is a member of the Power Corporation group of companies. For more information, visit
Yahoo
13-05-2025
- Business
- Yahoo
IGM Financial (TSE:IGM) Has Announced A Dividend Of CA$0.5625
IGM Financial Inc. (TSE:IGM) has announced that it will pay a dividend of CA$0.5625 per share on the 31st of July. This makes the dividend yield 5.1%, which will augment investor returns quite nicely. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. While it is great to have a strong dividend yield, we should also consider whether the payment is sustainable. Prior to this announcement, IGM Financial's dividend was comfortably covered by both cash flow and earnings. This means that a large portion of its earnings are being retained to grow the business. Looking forward, earnings per share is forecast to fall by 1.9% over the next year. Assuming the dividend continues along recent trends, we believe the payout ratio could be 58%, which we are pretty comfortable with and we think is feasible on an earnings basis. View our latest analysis for IGM Financial The company has been paying a dividend for a long time, and it has been quite stable which gives us confidence in the future dividend potential. The annual payment during the last 10 years was CA$2.15 in 2015, and the most recent fiscal year payment was CA$2.25. Its dividends have grown at less than 1% per annum over this time frame. Slow and steady dividend growth might not sound that exciting, but dividends have been stable for ten years, which we think makes this a fairly attractive offer. Some investors will be chomping at the bit to buy some of the company's stock based on its dividend history. It's encouraging to see that IGM Financial has been growing its earnings per share at 5.2% a year over the past five years. Shareholders are getting plenty of the earnings returned to them, which combined with strong growth makes this quite appealing. In summary, it is good to see that the dividend is staying consistent, and we don't think there is any reason to suspect this might change over the medium term. The company is generating plenty of cash, and the earnings also quite easily cover the distributions. However, it is worth noting that the earnings are expected to fall over the next year, which may not change the long term outlook, but could affect the dividend payment in the next 12 months. Taking this all into consideration, this looks like it could be a good dividend opportunity. It's important to note that companies having a consistent dividend policy will generate greater investor confidence than those having an erratic one. At the same time, there are other factors our readers should be conscious of before pouring capital into a stock. Companies that are growing earnings tend to be the best dividend stocks over the long term. See what the 5 analysts we track are forecasting for IGM Financial for free with public analyst estimates for the company. Is IGM Financial not quite the opportunity you were looking for? Why not check out our selection of top dividend stocks. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Globe and Mail
11-05-2025
- Business
- Globe and Mail
Nervous clients of IGM Financial Inc. steer clear of panic selling, CEO says
Nervous clients of IGM Financial Inc. IGM-T have taken a pause on adding to their portfolios but are steering clear of panic-selling, the investment giant's chief executive officer says. Investors poured $4.2-billion into IGM Financial's funds for the first three months of 2025, according to figures reported Thursday, compared with just $128-million for the same period last year. But sales started to slow down in the spring, as market uncertainty began to weigh on investor confidence, CEO James O'Sullivan told analysts during an earnings call on Friday morning. Second-quarter figures are expected to be released in the summer. 'While much of the first quarter was characterized by considerable uncertainty, the financial markets – for the most part – proved resilient until early April when we saw a spike in volatility," he said. However, net redemptions – the amount of money investors pull out of funds – has remained stable, he added, but the industry has seen sales softened slightly. Mr. O'Sullivan, later speaking to shareholders at IGM Financial's Friday annual general meeting, addressed the current economic climate that has started to rattle clients. 'In the last few months, we have been compelled to re-examine our relationship with the U.S. as a result of the launch of a tariff war and the questioning of our national sovereignty,' he said. 'We have also seen the beginnings of a restructuring of global alliances that have been in place for 80 years. All this, naturally, has created a degree of stress in our economy and resulting market volatility.' However, that uncertainty has led investors to seek out more financial advice, as they hold steady in their investment decisions: 'It is a positive time for investment advisers.' IGM Financial reported adjusted net earnings of $237-million, or $1.00 a share, for the first quarter of 2025, compared with $224-million, or 94 cents a share, in 2024. Sun Life Financial CEO says U.S. tariff impacts on market appear manageable so far - The Globe and Mail Sun Life Financial CEO says U.S. tariff impacts on market appear manageable so far – The Globe and Mail The investment giant, a subsidiary of Power Corp. of Canada POW-T, has seen its assets under administration – including its strategic investments – reach an all-time high of $503.6-billion, up from $483-billion, at the end of 2024. In recent years, the company has completed a flurry of acquisitions. Today, IGM Financial owns a 20.5-per-cent stake in U.S wealth giant Rockefeller Capital Management and a 56-per-cent stake in private equity firm Northleaf Capital Partners. In 2022, IGM Financial doubled its stake in China Asset Management Co. to 27.8 per cent from 13.9 per cent, and it continues to hold nearly 25 per cent in digital manager, Wealthsimple Inc. Mr. O' Sullivan said there are times where Canadians want less financial advice, where 'they want do it themselves a little more.' But during other market events, Canadians seek direction. 'Markets today are where Canadians want to speak to someone directly to get advice.' That is good news for a financial services giant with multiple layers of advice businesses. Digitally savvy investors are turning to Wealthsimple, which now serves more than two million clients. Its assets skyrocket to $73-billion, as of March 31, up from $31-billion at the end of 2023. 'Wealthsimple is the most successful customer acquisition engine that has ever been built in this country,' Mr. O'Suillivan said in an interview. 'It's a company the banks in particular are going to find hard to compete with.' But most of IGM Financial's revenue comes from IG Wealth (formerly known as Investors Group), which has more than 3,200 financial advisers and associates. IG Wealth reported client sales of $718-million, compared with $46-million in the first quarter of 2024. Unlike other periods of market uncertainty where several asset classes and sectors of the stock markets would decline simultaneously, Mr. O'Sullivan says today's environment is well tuned for active manager who can diversify. 'We're finally in a market where diversification is really working for client portfolios – by geography and by currency – and it's actually worked out really well so far. Clients are nervous, but they're not panicking.'
