03:50 PM EDT, 08/06/2024 (MT Newswires) -- iA Financial Group (IAG.TO) on Tuesday said it completed completed the acquisition of assets of the retail full-service investment broker division of Laurentian Bank Securities (LBS).

The acquisition was done through the company's iA Private Wealth unit. No price for the purchase was disclosed

The retail full-service broker division of LBS manages more than $2 billion in assets under administration. As a result of the transaction, approximately 15,000 client accounts have been transferred, with some 25 advisors joining iAPW's network.

iA shares were last seen down $$1.23 to $88.57 on the Toronto Stock Exchange.

Price: 88.58, Change: -1.22, Percent Change: -1.36