“For us at Desjardins it’s actually a chance to increase,” Richard provides. “Our operations and asset administration are actually centered in Quebec for the time being. It will permit us to realize a a lot larger footprint exterior of Quebec inside Canada and globally within the US and elsewhere.”
This deal, the leaders defined, emerged out of the 2023 acquisition of Guardian’s insurance coverage, mutual funds, and funding distribution networks by Desjardins by way of Worldsource. Richard notes a level of cultural match an alignment that helped speed up the present deal.
Trying forward, Mavroudis sees this deal as powering what Guardian had set for itself as a aim: turning into a prime 100 international asset supervisor. He emphasised the size that comes with this acquisition by way of expertise in addition to each human and monetary assets. He hopes to leverage that scale to win a larger share of advisors’ wallets.
That scale, Mavroudis harassed, is important to compete in each the Canadian and international funding landscapes. He argues that advisors are demanding extra providers from fewer corporations and that by constructing and leveraging scale his agency can supply a broader array of methods to advisors and their shoppers. Corporations with out that scale can wrestle to do the required work to construct and keep merchandise with a view to retaining prices and charges below management.
Each Mavroudis and Richard additionally highlighted Desjardins World Asset Administration’s present capability within the realm of personal property. Desjardins GAM, they observe, have a longtime non-public infrastructure staff with a observe file of delivering non-public property to the wealth administration channel. Given the growing significance of personal property in retail portfolios, Mavroudis and Richard sees this as a possible development space.
