Sale of TruStone Financial to Empire Life Insurance Company

Financial services - Asset management and insurance

KPMG Corporate Finance Inc. acted as financial advisor to the shareholders of Life Management Financial Group Ltd., LMF Investor Services Inc., Paradigm Financial Advisors (North) Inc., Paradigm Financial Advisors Inc., Dwight Goertz & Associates Insurance Agency Limited, and Pacific Place Financial Services Inc., on their sale to Empire Life Insurance Company (“Empire Life”).

Immediately upon completion of their sale to Empire Life, the entities amalgamated to form TruStone Financial Inc. (“TruStone”). TruStone is a managing general agent with more than $1.2 billion in assets under management and works with more than 1,100 independent financial advisors across Ontario and Western Canada. TruStone will remain a member of the BridgeForce Financial Group of companies.

Established in 1923, Empire Life is a subsidiary of E-L Financial Corporation Limited. The Company’s mission is to make it simple, fast and easy for Canadians to get the investment, insurance and group benefits coverage they need to build wealth, generate income, and achieve financial security. As of September 30, 2021, Empire Life had total assets under management of $19 billion.