IGM Financial

What IGM Financial does

IGM Financial Inc. is one of Canada's largest personal financial services companies, founded in 1926 and headquartered in Winnipeg, Manitoba. The company operates through two core subsidiaries: IG Wealth Management, which provides comprehensive personal financial planning to more than one million Canadians through a network of over 3,000 financial advisors, and Mackenzie Investments, an asset management business offering mutual funds, ETFs, and institutional investment solutions across Canadian and global markets. As of Q1 2026, combined assets under management and advisement reached CA$568.9 billion, up 13% year-over-year, supported by CAD 5.6 billion in net inflows.

The firm's business model is primarily fee-based and recurring, generating wealth management and asset management fees on assets under management and advisement, supplemented by income and valuation gains from strategic investments. Notable strategic positions include a 25.5% stake in Wealthsimple (valued at CAD 2.3 billion as of March 2026), a 17.2% stake in Rockefeller Capital Management (CAD 1.16 billion), and equity interests in ChinaAMC and Northleaf Capital Group. Technology adoption includes AI-powered financial planning via Conquest Planning and digital workflow integration through CapIntel, alongside the joint US$150 million commitment to the Sagard AI Fund L.P. with Power Corporation and Great-West Lifeco.

IGM Financial is publicly traded on the Toronto Stock Exchange under ticker IGM and is controlled by Power Corporation of Canada. The firm reported full-year 2025 revenue of approximately CAD 3.14 billion with adjusted net earnings of CAD 1,093.1 million (up 16.4% year-over-year), and Q1 2026 net earnings of CAD 283.8 million (up 21.4% year-over-year). The company is undergoing a planned leadership transition effective July 1, 2026, with Damon Murchison succeeding James O'Sullivan as President and CEO, alongside an announced corporate simplification to accelerate technology investment and consolidate operations.

Name

IGM Financial

Legal name

IGM Financial Inc.

Website

https://igmfinancial.com

Company type

Public

Founded year

1926

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

IGM Financial is a Canadian wealth and asset management company operating through IG Wealth Management (3,000+ advisors serving 1M+ Canadians) and Mackenzie Investments (mutual funds, ETFs, institutional mandates), with combined AUM/AUA of CA$568.9 billion as of Q1 2026 and strategic stakes in Wealthsimple, Rockefeller Capital Management, and ChinaAMC.

Ownership category

akta.pro rank

Product category

Wealth and Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Investment Banking and Securities Intermediation (523150)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Multi-Sector / Total Return Fixed Income (FSAAAHAJ)

Keywords

• Wealth management services
• Asset management products
• Personal financial planning
• Mutual fund management
• Investment advisory services

Headquarters

HQ city

Winnipeg

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Wealth Management Fees: IGM Financial generates revenue primarily through management fees and advisory fees charged on assets under management and advisement across its wealth management and asset management segments. The company reported total revenue of CAD 1.05 billion in Q4 2025 and CAD 997.9 million in Q1 2026.
2. Asset Management Fees: Revenue from mutual fund management, ETF management, and other investment management products offered through Mackenzie Investments, with strong mutual fund gross sales of $4.1 billion up 54.1% from prior year.
3. Strategic Investment Income: Income and valuation gains from strategic investments including stakes in Wealthsimple ($2.3 billion fair value) and Rockefeller Capital Management, which contributed to earnings growth.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

IGM Financial is a diversified Canadian wealth and asset management company operating through two core subsidiaries: IG Wealth Management, which delivers comprehensive personal financial planning through a network of over 3,000 advisors serving more than one million Canadians, and Mackenzie Investments, which provides mutual funds, ETFs, and investment management solutions to advisors and institutional investors. The company also holds strategic investments in Wealthsimple (digital wealth platform), Rockefeller Capital Management (US wealth management), and ChinaAMC (China asset management), and is pursuing AI integration through Conquest Planning and CapIntel partnerships.

Product overview

IGM Financial operates as a diversified wealth and asset management company comprising two core operating units—IG Wealth Management and Mackenzie Investments—alongside strategic investments in digital platforms. IG Wealth Management provides comprehensive personal financial planning through over 3,000 advisors serving more than one million Canadians, while Mackenzie Investments offers mutual funds, ETFs, and portfolio management solutions. The company also holds significant strategic positions in Wealthsimple (largest shareholder, $2.3B valuation) and Rockefeller Capital Management (17.2% stake, $1.16B valuation). Technology-enabled solutions include AI-powered financial planning via Conquest Planning and digital workflow integration through CapIntel. Combined assets under management and advisement reached CA$568.9 billion in Q1 2026.

Differentiator

Problem solved

Functional benefit

Brands

• IG Wealth Management: Comprehensive personal financial planning services serving over a million Canadians through over 3,000 financial advisors across the country.
• Mackenzie Investments

Products and services

• IG Wealth Management Canada's largest independent wealth management organization providing comprehensive personal financial planning through a network of over 3,000 financial advisors serving more than one million Canadians across the country.
• Mackenzie Investments Asset management company offering mutual funds, ETFs, and investment management services to financial advisors and institutional investors across Canadian and global markets.
• Mackenzie Value-Based ETFs (MAGV, MAUV, MBQG, MAUG) Exchange-traded funds offering global value, US value, global balanced, and US all-cap growth exposures with sub-advisory expertise from Barrow Hanley Global Investors and Putnam Investments.
• Mackenzie Northleaf Multi-Asset Private Markets Fund Fund offering accredited Canadian investors exposure to private equity, private credit, and infrastructure through a Mackenzie-Northleaf partnership.
• Mackenzie GQE International Equity Fund International equity fund combining quantitative data science with human investment insight to provide access to international sectors beyond North America.
• Investment Planning Counsel Financial planning and advisory services subsidiary acquired in 2023 to strengthen IGM's presence in Canadian wealth management.

Quantifiable outcome

• Record $314 billion in assets under management and advisement with $5.6 billion in net inflows
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability5 records

Feature2 records

Partnerships

Five partnerships are on record, tiered supporting, core and strategic.

• Barrow Hanley Global InvestorssupportingTechnology or Integration · 17 February 2026Barrow Hanley Global Investors serves as sub-advisor for the Mackenzie Global Value ETF (MAGV), leveraging decades of investment expertise in disciplined value-investing approaches.
• Putnam InvestmentssupportingTechnology or Integration · 17 February 2026Putnam Investments serves as sub-advisor for the Mackenzie US Value ETF (MAUV), providing value-investing expertise for the fund's investment strategy.
• Conquest PlanningcoreTechnology or Integration · 1 August 2025IG Wealth Management adopted Conquest Planning's AI-powered financial planning platform as part of its technology initiatives. The platform enables advisors to provide enhanced financial planning services to clients using artificial intelligence capabilities.
• CapIntelsupportingTechnology or Integration · 1 August 2025IG Wealth Management partnered with CapIntel for digital workflow integration, streamlining advisor-client interactions and improving service efficiency through technology-enabled processes.
• Northleaf Capital PartnersstrategicStrategic or Co-development PartnerMackenzie Investments partnered with Northleaf Capital Partners to launch the Mackenzie Northleaf Multi-Asset Private Markets Fund, providing accredited investors in Canada exposure to private equity, private credit, and infrastructure investments. Luke Gould serves as director of Northleaf Capital Group, Ltd.

Scale indicators18 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• CI Financial: CI Financial is one of Canada's largest independent wealth management and asset management firms, directly competing with IG Wealth Management in advisor-led wealth management and with Mackenzie Investments in mutual fund/ETF products. Highly comparable by business mix and distribution model.
• Fidelity Investments Canada: Fidelity Canada offers mutual funds, ETFs, and wealth management solutions with strong retail and advisor distribution, overlapping significantly with both Mackenzie Investments' fund lineup and IG Wealth Management's advisory services.

Broad incumbents

• Manulife Financial: Manulife operates a broad global financial services platform with significant Canadian wealth management and asset management segments that directly overlap with IGM's subsidiaries. Operates at much greater scale globally.
• Great-West Lifeco: Great-West Lifeco is a sister company within the Power Corporation group with overlapping wealth and asset management businesses including Canada Life, IG Wealth Management's acquisition partner. Direct competitor in Canadian wealth management and group retirement.
• Sun Life Financial: Sun Life is a major Canadian life insurer with significant wealth and asset management operations (Sun Life Global Investments, SLC Management). Comparable scale and breadth across insurance, wealth, and asset management.
• Royal Bank of Canada: RBC operates one of Canada's largest wealth management franchises (RBC Wealth Management, PH&N) and asset management arms competing with both IG Wealth Management and Mackenzie Investments. Operates within a much broader banking platform.
• TD Bank Group: TD offers wealth management through TD Wealth and asset management via TD Asset Management, directly competing in Canadian retail wealth advisory and institutional investment management. Distribution advantage through branch banking network.
• Bank of Montreal: BMO operates BMO Wealth Management and BMO Global Asset Management with significant Canadian retail advisor and institutional asset management presence, comparable in product breadth and customer segments.

Regional players

• National Bank of Canada: National Bank is a major Canadian financial institution with wealth management (National Bank Financial) and asset management operations. Smaller scale than Big Six peers but comparable offering within the Canadian domestic market.

Others

• Power Corporation of Canada: Power Corporation is IGM Financial's parent company and controlling shareholder, also holding Great-West Lifeco. While not a direct peer (holding company structure), it is the central strategic counterparty and influences capital allocation, leadership, and strategic direction of IGM.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/igm-financial-services-inc

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries7 records

Funding overview

Funding rounds7 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments11 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IGM Financial