TORONTO, Aug. 2 2007 – ING Canada Inc. (TSX: IIC) announced today that it has reached definitive agreements with Groupe Cloutier Inc. and Worldsource Financial Management Inc. whereby these two organizations will provide access to the mutual fund products and distribution services currently offered to property and casualty insurance brokerages through ING Wealth Management.
The agreements are subject to certain conditions and regulatory approvals. The terms of these agreements have not been disclosed, but are not considered a material development.
“In light of the current market trends and after a review of our mutual fund distribution services, we came to the conclusion that our property and casualty brokers, representatives and their clients would benefit from the specialized support of Worldsource and Groupe Cloutier. These organizations are well established financial services companies, focussed on the distribution of mutual funds and life insurance” said Derek Iles, President of ING Insurance.
As a result of these agreements, the mutual fund distribution services currently provided by ING Wealth Management will be transferred to Groupe Cloutier in Quebec and Worldsource Financial Management in Ontario, Alberta and British Columbia.
About ING Canada
ING Canada is the largest provider of property and casualty insurance in the country offering automobile, property and liability insurance to individuals and businesses through its insurance subsidiaries. ING Wealth Management, one of its subsidiaries, is a mutual fund dealer and, in Quebec, a financial services firm. www.ingcanada.com
About Groupe Cloutier
Groupe Cloutier is a well-established financial services brokerage that has been operating in Quebec for over 25 years. The company has over 1,000 financial service representatives and 100 employees. Groupe Cloutier has been acting as a Managing General Agent for ING Wealth Management providing advisors with individual insurance products and other financial services.
About Worldsource Financial Management Inc.
Worldsource Financial Management Inc. is a mutual fund dealer that provides a wide range of innovative services to support its independent advisor network. With more than 500 independent mutual fund representatives, Worldsource Financial Management has more than $5 billion of assets under administration, and affiliates which include a Managing General Agency, Worldsource Insurance Network, and a securities dealer, Worldsource Securities Inc. Worldsource is a subsidiary of Guardian Capital Group Limited (TSX : GCG and GCG.A). .
ING Canada conclut des ententes visant ses activit�s de distribution de produits d’�pargne collective
TORONTO, le 2 ao�t 2007 – ING Canada inc. (TSX : IIC) a annonc� aujourd’hui qu’elle a conclu des ententes d�finitives avec Groupe Cloutier inc. et Gestion Financi�re Worldsource Inc. en vertu desquelles ces deux entreprises mettront � la disposition des cabinets de courtage en assurance IARD les produits et services d’�pargne collective actuellement offerts par ING Gestion du patrimoine.
Les ententes sont assujetties � certaines conditions et � l’approbation des organismes de r�glementation. Les modalit�s des ententes n’ont pas �t� divulgu�es, mais elles ne sont pas jug�es importantes.
“A la lumi�re des tendances du march� et � la suite d’une r�vision strat�gique de nos activit�s de distribution de produits d’�pargne collective, nous avons conclu que nos courtiers en assurance IARD, nos repr�sentants et leurs clients b�n�ficieraient des services sp�cialis�s offerts par Worldsource et Groupe Cloutier. Ces entreprises sont bien �tablies dans le domaine des services financiers et se concentrent sur la distribution de produits et services d’�pargne collective et d’assurance de personnes”, a d�clar� Derek Iles, pr�sident d’ING Assurance.
En vertu de ces ententes, les services de distribution de produits d’�pargne collective pr�sentement offerts par ING Gestion du patrimoine seront assum�s par le Groupe Cloutier au Qu�bec et par Gestion Financi�re Worldsource en Ontario, en Alberta et en Colombie-Britannique.
A propos d’ING Canada
ING Canada est le plus important fournisseur d’assurance IARD au Canada. Elle offre des produits d’assurance automobile, biens et responsabilit� aux particuliers et aux entreprises par l’entremise de ses filiales d’assurance. ING Gestion du patrimoine, une filiale d’ING Canada, est un courtier en �pargne collective et au Qu�bec, un cabinet de services financiers. www.ingcanada.com.
A propos du Groupe Cloutier
Groupe Cloutier est un r�seau de courtage en services financiers bien �tabli au Qu�bec qui exerce ses activit�s depuis plus de 25 ans. Il compte plus de 1 000 repr�sentants en services financiers et 100 employ�s. Groupe Cloutier agit d�j� en qualit� d’agent g�n�ral pour ING Gestion du patrimoine et offre aux repr�sentants des produits d’assurance de personnes et autres services financiers.
A propos de Gestion Financi�re Worldsource Inc.
Gestion Financi�re Worldsource Inc., un courtier en �pargne collective, offre une vaste gamme de services innovateurs pour appuyer son r�seau de conseillers ind�pendants. Forte d’un r�seau de plus de 500 repr�sentants en �pargne collective ind�pendants, Gestion Financi�re Worldsource a des actifs sous administration de plus de 5 milliards de dollars et compte parmi ses soci�t�s affili�es un agent g�n�ral, Worldsource Insurance Network, et un courtier en valeurs mobili�res, Valeurs Mobili�res Worldsource Inc. Worldsource est une filiale de Guardian Capital Group Limited (TSX : GCG et GCG.A).
