02:06 PM EDT, 07/29/2025 (MT Newswires) -- National Bank views iA Financial's ( IAFNF ) $597 million acquisition of RF Capital in a positive light.

The acquisition is consistent with IAG's historical strategy of acquiring financial services distribution entities, writes analyst Gabriel Dechaine. The transaction is also expected to be accretive to EPS in Year 2 of the transaction, ramping up thereafter. Finally, valuation for the acquisition (i.e., at 1.5% of AUA) is on par with historical precedents, despite scarcity of similar assets, along with Richardson Wealth's above average AUA per advisor.

iA Financial ( IAFNF ) is rated Sector Perform, with a $141 target.

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