Qtrade to merge with Credential and NEI to form Canadian financial services leader

December 27, 2017 - Kindred Credit Union is pleased to share that Desjardins Group and a partnership comprised of Canada’s five provincial credit union centrals and The CUMIS Group have entered into a definitive agreement to merge the businesses of their subsidiaries, Credential Financial Inc., Qtrade Canada Inc. and NEI Investments. The transaction will create one of Canada’s largest independent wealth management firms with more than 500,000 clients across the country and over $55 billion in combined client assets under administration and management.

The new organization, Aviso Wealth ("ah-vee-zo"), will be one of Canada's largest independent financial services providers creating positive benefits for our credit union and our members. Aviso Wealth will offer innovative approaches to processes, technology, practice standards, and tools ensuring that we deliver a differentiated wealth management experience.

For the time being, it's business as usual for Kindred and our members. The merger must be approved by regulators and the Competition Bureau. That process is expected to take approximately 75 to 90 days. Once approved, the implementation will proceed gradually over the next 18 months.

This is an incredible success story for our credit union and our members! As a co-founder and leader in the creation of the Meritas family of SRI mutual funds in 1999, we can be proud of the role we played in making this news possible. Meritas merged with Qtrade in 2010 and has grown nearly tenfold in assets since that time.

For more details, click here to read the joint press release from the Desjardins Group, Canada’s five provincial credit union centrals, and The CUMIS Group.


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