Greatway Financial
Greatway Financial is a Canadian insurance Managing General Agency (MGA) that distributes life, health, and related insurance products from multiple carriers through a network of 4,200+ independent licensed advisors operating from 30+ offices across Canada.
- Company typePrivate
- Founded2010
- HeadquartersCalgary, Canada
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What Greatway Financial does
Greatway Financial Inc. is a Canadian insurance Managing General Agency (MGA) headquartered in Calgary, Alberta, founded in 2010 (originally as Greatlife Financial). The company operates a national distribution platform that connects Canadian consumers with insurance products from multiple carriers through a network of 4,200+ independent, life-licensed advisors working from 30+ offices across nine provinces. Greatway's product portfolio spans life insurance, critical illness protection, disability insurance, travel insurance, business protection, mortgage term protection, final expense insurance, and (via partner Insurely) home/condo/renters insurance. In August 2025, Greatway extended into wealth distribution by becoming an MGA for iA Financial Group's segregated funds.
The company's revenue model is commission-based: as an MGA, Greatway receives a share of premiums/commissions from partner insurance carriers (ivari, CPP/Foresters, Co-operators, BMO Insurance, iA Financial Group, Allianz Assistance, Travelance, Edge Benefits, GMS) and retains a portion while distributing the rest to its independent agents. A secondary revenue stream comes from agent membership programs, training services, and back-office support. Its go-to-market is fundamentally community-led and channel-partner-driven: agents operate as independent contractors, recruited via the Greatway Advantage program, trained through a proprietary 12-module CE-accredited curriculum, and supported by agent-facing systems including My Greatway Office (business management portal), Virtgate, and the Greatway Membership platform. Agent recruitment leans heavily on testimonials, career-advancement narratives, and a family-oriented culture message reinforced by annual events such as the Convention of Champions, Kick-Off, Leadership Summit, and Women's Conference.
Operationally, Greatway grew from 60 agents at founding to over 2,000 professionals by 2017 and 4,200+ life licensed advisors today, supported by a 36,000 square foot headquarters facility purchased in Calgary in 2019. The company is privately held with no parent company, private equity investment, or public listing indicated; Marlon Antonio is referenced as Chairman. Greatway has faced regulatory scrutiny from Ontario's Financial Services Regulatory Authority (FSRA), including a 2022 compliance order finding practices 'unfair or deceptive,' and has invested in formal complaint management and whistleblower reporting infrastructure. The company remains operating and actively expanding its carrier, product, and event-based ecosystem as of 2025.
Greatway Financial firmographics
Firmographics- Name
- Greatway Financial
- Legal name
- Greatway Financial Inc.
- Website
- https://greatwayfinancial.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Greatway Financial is a Canadian insurance Managing General Agency (MGA) that distributes life, health, and related insurance products from multiple carriers through a network of 4,200+ independent licensed advisors operating from 30+ offices across Canada.
- Ownership category
- akta.pro rank
Greatway Financial industry classification
Industry- Product category
- Insurance Managing General Agency
- NAICS
- Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)
- SIC
- Insurance Agents, Brokers & Service (6411), Life Insurance (6311)
- akta.pro primary industry
- Insurance Program Administration & MGA/MGU Services (FSAEADAK)
- akta.pro secondary industries
- Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI), Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD)
Keywords
Where Greatway Financial is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices30 records
Markets served
Greatway Financial business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Insurance Commission Revenue: Greatway Financial generates revenue through commissions paid by insurance carriers for policies sold through its network of independent agents. As an MGA, Greatway receives a share of commissions from insurers and retains a portion while distributing the rest to agents.
- Agent Membership and Support Services: Revenue generated from agent membership programs, training services, and back-office support provided to independent insurance agents operating under the Greatway umbrella.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
Greatway Financial product offering
Product offeringCore offering
Greatway Financial is a Canadian Insurance Managing General Agency (MGA) that underwrites, distributes, and administers a portfolio of personal and small-business insurance products through a network of more than 4,200 independent insurance agents across Canada. The company partners with multiple insurance carriers to offer life, critical illness, disability, travel, business protection, mortgage term, home/renters, and final expense insurance solutions to Canadian families and small-business owners.
Product overview
Greatway Financial is a licensed Insurance Managing General Agency (MGA) operating across Canada since 2010, offering a portfolio of insurance products through a national network of independent, contracted insurance advisors. The core offering comprises life insurance, critical illness protection, disability insurance, travel insurance, business protection, mortgage term protection, home/condo/renters insurance, and final expense insurance. These products are distributed exclusively through independent agents operating under provincial insurance licenses. The company supplements its product portfolio with agent-facing platforms including My Greatway Office (a web portal for advisors to manage operations) and the Greatway Membership program providing training and business tools. The Greatway Advantage program handles agent recruitment and onboarding. The company works with multiple insurance carriers (including ivari, CPP/Foresters, Co-operators, BMO Insurance, and others) to provide product variety, and also partners with Insurely for home and condo insurance distribution.
Differentiator
Problem solved
Functional benefit
Products and services
- Life Insurance
- Critical Illness Insurance
- Disability Insurance
- Travel Insurance
- Business Protection Insurance
- Mortgage Term Insurance
- Home and Renters Insurance
- Final Expense Insurance
Companies that use Greatway Financial
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Greatway Financial technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Greatway Financial partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core and minor.
- iA Financial GroupcoreGreatway Financial became a managing general agent (MGA) for iA Financial Group, enabling its advisors to offer iA segregated funds to clients including investing through registered accounts. This partnership followed iA Financial Group's thorough due diligence process.
- BFL CanadaminorPartnership announced at Greatway Kick-Off 2025 event for insurance and risk management services
- Home Equity BankminorPartnership announced at Greatway Kick-Off 2025 event for banking products
- One Tree PlantedminorEnvironmental partnership for tree planting initiatives supporting sustainability and future generations
- iVaricoreInsurance provider partner offering life insurance products through Greatway's agent network
- CPP/ForesterscoreInsurance provider partner offering life insurance products through Greatway's agent network
- Co-operatorscoreInsurance provider partner offering insurance products through Greatway's agent network
- Edge BenefitscoreInsurance provider partner offering insurance products through Greatway's agent network
- GMScoreInsurance provider partner offering insurance products through Greatway's agent network
- BMO InsurancecoreInsurance provider partner offering insurance products through Greatway's agent network
- Allianz AssistancecoreTravel insurance provider partner offering travel insurance products through Greatway's agent network
- TravelancecoreTravel insurance provider partner offering travel insurance products through Greatway's agent network
- AdvocisminorProfessional association partnership for insurance advisors
- B2B BankminorBanking partnership for financial products and services
- CAILBAminorCanadian Association of Independent Life Brokerage Agencies membership and partnership
Scale indicators6 records
Recent moves9 records
Expansion highlights6 records
Greatway Financial competitors and assessment
Company assessmentDirect peers
- Primerica: Publicly-traded distributor of term life and investment products in the U.S. and Canada through a large independent salesforce; comparable MGA-style agent distribution and product mix including life insurance distributed by independent representatives.
- World Financial Group (WFG): Large North American MGA built on a tiered-recruitment model distributing life insurance and investment products through independent agents — comparable in distribution architecture to Greatway, and the type of firm FSRA has targeted.
- Hub Capital Group (formerly Hub Financial): Canadian independent Managing General Agency representing life insurers nationally, the closest direct comparability to Greatway's multi-carrier MGA model serving independent advisors across Canada.
Broad incumbents
- Canada Life (Great-West Lifeco): Largest Canadian life and health insurer post-Great-West merger; distributes through captive advisors and third-party broker/MGA channels like Greatway, with overlapping life, critical illness, and group products.
- iA Financial Group: Large Canadian life and wealth insurer now in a formal MGA partnership with Greatway since 2025; competes with and supplies Greatway via segregated funds and other insurance products.
- BMO Insurance: Bank-owned insurance carrier offering life and creditor insurance through BMO's distribution; one of Greatway's carrier partners placing life insurance products into its advisor network.
- Wawanesa Life: Canadian mutual insurer with a growing life and wealth business distributed through independent advisors; competes for placement within MGA platforms like Greatway's.
- Manulife Financial: One of Canada's largest life insurers with multi-channel distribution including third-party MGAs and advisor networks; overlaps with Greatway on the life and wealth products it places through its agents.
- Sun Life Financial: Major Canadian life and health insurer distributing through independent advisors and group benefits channels; comparable on the underwriting and carrier side of Greatway's multi-carrier MGA platform.
- Co-operators: Canadian multi-line mutual insurer and one of Greatway's named carrier partners; distributes through advisors and brokers in property, casualty, life, and wealth categories overlapping Greatway's product suite.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Greatway Financial social profiles
Digital presenceGreatway Financial financial estimates
Financial estimateRevenue estimate
Valuation estimate
Greatway Financial leadership team
Management profileNumber of profiles
Profiles6 records
Greatway Financial funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Greatway Financial M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Greatway Financial
What does Greatway Financial do?
Greatway Financial is a Canadian Insurance Managing General Agency (MGA) that underwrites, distributes, and administers a portfolio of personal and small-business insurance products through a network of more than 4,200 independent insurance agents across Canada. The company partners with multiple insurance carriers to offer life, critical illness, disability, travel, business protection, mortgage term, home/renters, and final expense insurance solutions to Canadian families and small-business owners.
Is Greatway Financial a public or private company?
Greatway Financial is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Greatway Financial founded?
Greatway Financial was founded in 2010. It employs 1,001 to 5,000 people.
Where is Greatway Financial based?
Greatway Financial is headquartered in Calgary, Canada, in the North America region.
How does Greatway Financial make money?
Two revenue lines are on record. Insurance Commission Revenue is the primary driver. The others are agent Membership and Support Services.
Who are Greatway Financial's main competitors?
Direct peers on record are Primerica, World Financial Group (WFG) and Hub Capital Group (formerly Hub Financial). Broad incumbents are Canada Life (Great-West Lifeco), iA Financial Group, BMO Insurance, Wawanesa Life, Manulife Financial, Sun Life Financial and Co-operators.
Does Greatway Financial have an API?
No public API is recorded for Greatway Financial.
What industry is Greatway Financial in?
Greatway Financial's product category is Insurance Managing General Agency. Its primary akta.pro industry code is FSAEADAK, Insurance Program Administration & MGA/MGU Services, with a secondary code of FSAAACAI, Insurance-Integrated Wealth Managers (RIA + Insurance Solutions). Its NAICS code is 524210 and its SIC code is 6411.