Financial powerhouse iA Financial set to acquire wealth management firm RF Capital

In a significant move, Canadian company iA Financial Group has announced its agreement to acquire RF Capital Group, a wealth management-focused company operating under the Richardson Wealth brand. The deal, valued at approximately C$597 million ($435.1 million), is set to be finalised in the fourth quarter of 2025.

The purchase price includes a C$370 million valuation for RF Capital's fully diluted equity, along with C$227 million to cover financial obligations such as revolving debt and preferred shares.

Denis Ricard, President and CEO of iA Financial Group, affirmed the company's commitment to the value of advice, pledging to empower advisors with best-in-class tools and preserve their independence. The acquisition, he said, aligns with iA's unique model and strategic approach to sustainable growth.

For RF Capital, the acquisition unlocks opportunities in technology, product innovation, and operational scale. RF Capital president and CEO, Dave Kelly, expressed his belief that these benefits will significantly enhance the firm's ability to help advisors assist clients feel secure about their financial future.

CIBC Capital Markets is serving as the exclusive financial advisor to RF Capital, while McCarthy Tétrault LLP is acting as legal counsel to iA Financial Group. Goodmans LLP is providing legal counsel to RF Capital. National Bank Financial is advising iA Financial Group in the transaction.

Upon completion of the acquisition, RF Capital advisors will continue to operate independently under the Richardson Wealth brand, backed by the financial strength and stability of iA Financial Group. The deal will be financed through iA's existing cash reserves.

The acquisition is expected to expand iA's reach in target segments and enhance its scalable distribution model. RF Capital, with its 23 offices across Canada, manages over C$40 billion in assets.

It's worth noting that the bank that plans to complete the acquisition of RF Capital Group has not been identified in the provided search results. The exact timeline for the acquisition and any necessary regulatory approvals have not been disclosed.

Financial powerhouse iA Financial set to acquire wealth management firm RF Capital