Madison Financial Services

What Madison Financial Services does

Madison Financial Services Inc. is a privately held financial advisory firm headquartered in Winnipeg, Manitoba, that delivers insurance, retirement, investment, and group benefits solutions to three customer segments: individuals and families, incorporated business owners, and employer groups seeking employee benefit programs. The firm was founded in 2007 when Dan Nord joined Pat Nord's independent advisory practice, which itself dates back to 1990; the corporate entity has therefore operated for over 30 years under continuity of ownership. The company is licensed and domiciled in Manitoba, Canada, and operates from a single office at 100 Osborne Street North in Winnipeg.

The firm delivers services through a five-person team consisting of three credentialed financial security advisors (Dan Nord, CFP; Pat Nord; and Carolyn Lussier, CFP, CLU), a Senior Advisor Associate (Sue Turgeon), and a Private Wealth Counsellor (Chris Koltek, MBA, CFA) provided through Great-West Life's Private Wealth & Estate Services team. Product offerings span life, disability, critical illness, health and dental insurance, RRSPs, RRIFs, LIRAs, RESPs, TFSAs, segregated funds, corporate class accounts, and wealth enhancement series for individuals; corporately owned insurance and corporate investing strategies for incorporated business owners; and group RRSPs, deferred profit sharing plans, and pension plans for employers. The firm acts as an intermediary distributing products from eight partner carriers: RBC Insurance, BMO, Desjardins, Manulife, Great-West Life, Sun Life Financial, Quadrus Group of Funds, and Mackenzie Investments.

The business model is commission- and fee-based professional services revenue, generated through financial security planning engagements and product placements with partner carriers. Go-to-market is consultative and sales-led, delivered through face-to-face advisory relationships at the Winnipeg office with no digital self-serve distribution. Marketing is conducted primarily through organic social media (Facebook, LinkedIn, X, Instagram, YouTube) and educational website content. Geographic scope is limited to the Winnipeg, Manitoba market, with no disclosed plans for geographic expansion. Pricing is not publicly disclosed and engagements are quote-based and tailored to individual client circumstances.

Name

Madison Financial Services

Legal name

Madison Financial Services Inc.

Website

https://madisonfinancial.ca

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

Madison Financial Services Inc. is a Winnipeg-based financial advisory firm offering insurance, retirement, investment, and group benefits solutions to individuals, incorporated business owners, and employer groups through a five-person team of credentialed advisors.

Ownership category

akta.pro rank

Product category

Financial Advisory Services

NAICS

Portfolio Management and Investment Advice (523940), Insurance Agencies and Brokerages (52421)

SIC

Investment Advice (6282), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)

Keywords

• Financial advisory services
• Insurance products
• Retirement planning
• Group benefits
• Wealth management

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

Revenue model

1. Financial Advisory & Planning Fees: Revenue generated through financial security planning services, advisory fees, and commissions on insurance and investment products placed with their partner carriers.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Madison Financial Services is a Winnipeg-based financial advisory firm that provides financial security planning, insurance products (life, disability, critical illness, health and dental), retirement savings vehicles (RRSPs, RESPs, TFSAs, RRIFs, LIRAs), and investment solutions. The firm operates as an intermediary connecting clients with insurance and investment partners including RBC Insurance, BMO, Desjardins, Manulife, Great-West Life, Sun Life Financial, Quadrus Group of Funds, and Mackenzie Investments. Services are delivered through three practice areas: Individual & Family Solutions, Incorporated Business Owners Solutions, and Group Benefits.

Product overview

Madison Financial Services is a financial advisory firm offering three core service lines: Individual & Family Solutions, Incorporated Business Owners Solutions, and Group Benefits. The company provides a comprehensive suite of insurance products (life, disability, critical illness, health and dental), retirement savings vehicles (RRSPs, RRIFs, LIRAs, TFSAs, RESPs), and investment products (segregated funds, corporate class accounts). For incorporated business owners, they offer corporately owned insurance solutions and corporate investing strategies with tax optimization. Their group benefits practice provides employee benefit plans, group RRSPs, deferred profit sharing plans, and pension plans. The firm serves as an intermediary connecting clients with insurance partners including RBC Insurance, BMO, Desjardins, Manulife, Great-West Life, Sun Life Financial, Quadrus Group of Funds, and Mackenzie Investments.

Differentiator

Problem solved

Functional benefit

Products and services

• Individual & Family Solutions Comprehensive financial security planning services for individuals and families in Winnipeg, covering life insurance, disability and critical illness insurance, health and dental insurance, RRSPs, RESPs, TFSAs, RRIFs, LIRAs, Lifetime Income Benefit, Segregated Fund Policies, Corporate Class Investment Accounts, and Wealth Enhancement & Preferred Series investment solutions.
• Incorporated Business Owners Solutions Financial planning and risk management services for incorporated business owners, including corporately owned life insurance (shareholder agreement funding, buy-sell agreements, debt protection, key person coverage), corporate disability and critical illness coverage, business overhead protection, and corporate investing with tax minimization, liquidity management, and cash flow optimization strategies.
• Group Benefits Employee benefit programs for employers in Winnipeg, including employee benefit plans (health/dental/life/disability coverage), group RRSPs, group deferred profit sharing plans (DPSPs), and corporate pension plan administration designed to help employers attract and retain staff, improve morale and productivity, and support employee health and wellness.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• RBC InsurancecoreOthersInsurance product partner providing life, health, and property & casualty insurance solutions to Madison Financial Services clients.
• BMOcoreOthersBanking and financial services partner offering insurance products through Madison Financial Services distribution.
• DesjardinscoreOthersFinancial services cooperative partner providing insurance and wealth management products.
• ManulifecoreOthersMajor insurance and financial services company providing life insurance, group benefits, and wealth management products.
• Great-West LifecoreOthersInsurance and financial services partner. Dan Nord worked at Great-West Life from 2003-2007. Chris Koltek currently works with their Private Wealth & Estate Services team.
• Sun Life FinancialcoreOthersInternational financial services company providing insurance, retirement, and investment products to Madison Financial Services clients.
• Quadrus Group of FundsminorOthersInvestment fund partner providing managed investment solutions and corporate class funds for client portfolios.
• Mackenzie InvestmentsminorOthersInvestment management partner providing mutual funds and investment products for client portfolios.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• IG Wealth Management: One of Canada's largest independent wealth management networks with thousands of advisors. Direct competitor for Madison's individual, family, and business-owner planning across Canada, with far greater scale and brand recognition.
• CIBC Wood Gundy: Canadian full-service brokerage delivering financial planning, investment, and insurance solutions. Competes with Madison in Winnipeg for high-net-worth and business-owner wealth management engagements.
• Canada Life: Major Canadian life insurer and wealth manager with group benefits and individual financial planning. Competes with Madison across the same insurance, retirement, and group-benefits product categories.

Direct peers

• iA Securities (HollisWealth): Canadian independent advisor network offering financial planning and wealth management to individuals and business owners. Comparable independent-advisor model with multi-product, multi-carrier platform.
• Edward Jones Canada: Branch-based advisor model delivering personalized financial planning to individuals and families across Canada. Highly comparable model to Madison's relationship-driven, in-person advisory approach with similar product breadth.
• Assante Financial Management: Canadian independent financial planning firm serving individuals, families, and business owners with integrated wealth and insurance advice. Closely comparable service mix, multi-carrier product access, and high-net-worth planning orientation.

Others

• Manulife Wealth: Core Madison partner providing insurance and wealth products; also operates a competing advisor channel across Canada. Comparable product mix and integrated insurance-plus-wealth model.
• Sun Life Financial: One of Madison's core insurance and wealth partners; also competes indirectly through its own advisor channel. Useful comparator for the insurance and group benefits distribution model.
• RBC Insurance: Core Madison insurance partner; also offers wealth and group benefits through RBC's broader platform. Comparable insurance product suite and Canadian distribution scale.

Regional players

• Desjardins Financial Services: Quebec-based cooperative financial group with national insurance and wealth operations; Madison partner. Comparable insurance, investment, and group benefits product set, with a strong regional focus overlapping the Winnipeg market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/dan_nord
• YouTubeyoutube.com/user/madisonfinancialwpg
• Facebookfacebook.com/madisonfinancial
• LinkedInlinkedin.com/company/madison-financial
• Instagramflickr.com/photos/madisonfinancial

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Madison Financial Services