Financial Services Group

What Financial Services Group does

Financial Services Group (FSG), operating as Gary P. Kwasnecha & Company Ltd., is a privately held, family-owned independent financial advisory firm founded in 1977 and headquartered in Leduc, Alberta. The firm delivers holistic financial planning, investment management, insurance, banking, and group benefits services to roughly 1,200+ client households across Alberta, British Columbia, and Ontario, supported by 15 staff (7 advisors, 8 support) across three Alberta offices. Its core offering is split between a Comprehensive Financial Planning and Wealth Management program for clients with $500,000+ in investable assets and an Essentials Program for sub-$500K clients routed through the ModernAdvisor digital platform.

Name

Financial Services Group

Legal name

Gary P. Kwasnecha & Company Ltd.

Website

https://financialservicesgroup.net

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Independent Financial Advisory Services

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Portfolio Management and Investment Advice (523940), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Insurance Agents, Brokers & Service (6411), Finance Services (6199)

akta.pro primary industry

Managed Platforms & Wrap Programs for Private Clients (Model Portfolios, UMA/SMAs) (FSAAABAM)

akta.pro secondary industries

Employee Benefit & Retirement Plan Trust Services (FSAAANAC), Group Variable Universal Life (GVUL) (FSAIADAD)

Keywords

• Financial planning services
• Investment management
• Insurance brokerage
• Wealth management
• Retirement planning

Headquarters

HQ city

Leduc

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Investment Management Fees: FSG charges investment management fees on assets under management through the Manulife Group Savings Plan. Fees are tiered based on fund type and account balance, with competitive rates compared to major banks. The Member Reward Program provides fee reductions based on account size.
2. Insurance Products and Advisory: FSG earns commissions on insurance products including life, critical illness, disability, long-term care, travel, and business insurance through multiple carrier relationships.
3. Group Benefits and Retirement Consulting: Through sister company Get Benefits, FSG provides group benefits and retirement plan consulting and brokerage services to small and medium-sized businesses.
4. GIC and Deposit Products: FSG, as a member of the Registered Deposit Brokers Association, earns fees on GIC and guaranteed investment products placed for clients through various financial institutions.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Financial Services Group (FSG) is an independent Canadian financial advisory firm that provides holistic financial planning, investment management, insurance, banking, and group benefits solutions. The company operates two core programs: a Comprehensive Financial Planning and Wealth Management program for clients with $500,000+ in investable assets, and an Essentials Program for clients below that threshold using a digital partner platform. Products span RRSP/RRIF/TFSA/RESP accounts, GICs, life/disability/critical illness insurance, business insurance, travel insurance, Manulife banking products, and group benefits/retirement plans through its sister company Get Benefits.

Product overview

Financial Services Group is a holistic financial planning, insurance, and investment management firm offering integrated products and services. The core offering consists of two financial planning programs: Comprehensive Financial Planning and Wealth Management for clients with $500,000+ in investable assets, and the Essentials Program for clients below that threshold using digital partner ModernAdvisor. Investment products include the FSG Manulife Group Investment Plan with tiered fee structures, Guaranteed Investment Certificates, RRSP/RRIF accounts, TFSAs, RESPs, and pension funds. Insurance offerings span life insurance (Term, Universal, Whole Life, Vitality), living benefits (disability, critical illness, long-term care), mortgage insurance, business insurance (buy-sell, keyman, overhead), and travel insurance via Manulife and TuGo. Banking products include the Manulife Advantage Account. Sister company Get Benefits handles group benefits and retirement plans for businesses.

Differentiator

Problem solved

Functional benefit

Products and services

• Comprehensive Financial Planning and Wealth Management

Quantifiable outcome

• Over $625 million in investment assets managed
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature2 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Get Benefits (Kinasewich Benefits Consulting)coreStrategic or Co-development Partner · 8 May 2021Sister company specializing in group benefits and retirement plan consulting and brokerage. Merger completed in 2021. FSG Benefits Solutions amalgamated with Kinasewich Benefits Solutions. Both operate as 'sister' companies under separate brands. Michael MacPhail and Scott Kwasnecha took leadership roles in Get Benefits.
• Manulife FinancialcoreTechnology or IntegrationFSG uses Manulife Group Savings Plan platform for investment management. Clients benefit from Member Reward Program with lower fees based on balance tiers. Also offers Manulife Vitality insurance product and Manulife Bank products.
• Modern AdvisorcoreTechnology or IntegrationDigital portfolio management partner for Essentials Program clients providing automated investment management for clients with simplified financial needs.
• Insurance Carrier PartnerscoreChannel Partner/ Reseller/ DistributorFSG has relationships with multiple insurance carriers: BMO, Canada Life, Equitable Life, Industrial Alliance, Manulife Financial, RBC, and Sunlife. As an independent broker, they can market plans to multiple insurers to ensure competitive rates.
• B2B BankminorChannel Partner/ Reseller/ DistributorProvides GIC and guaranteed investment products through the Registered Deposit Brokers Association network.
• Legal Referral PartnersminorGTM or Marketing PartnerBiamonte LLP (Simran-Grewal Sandhu specializing in Real Estate Law and Estate Planning) and HTM Law (Greg Miskie and Josh Jackson specializing in Real Estate, Commercial Law, and Estate Planning) for client referrals.
• Accounting Referral PartnersminorGTM or Marketing PartnerCaswell Accounting Ltd., Gallo and Company Chartered Accountants, and KBS Accounting provide referrals for financial planning and tax planning clients.
• One St MortgageminorGTM or Marketing PartnerMortgage broker partner (Jeff Mann) for mortgage and lending referrals.
• WillfulminorGTM or Marketing PartnerDigital estate planning company providing online estate documents. FSG clients receive 20% discount through advisor link.
• Benefits2minorGTM or Marketing PartnerDisability Tax Credit consulting specialist for client referrals.
• King Business SolutionsminorGTM or Marketing PartnerHR and recruitment management partner for business client referrals.
• TuGominorChannel Partner/ Reseller/ DistributorTravel insurance provider offering quotes and coverage for FSG clients traveling internationally.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Edward Jones Canada: Branch-based financial advisor network serving individual investors with investment, insurance, and financial planning services. Highly comparable local-advisor-led model with regional offices and long-tenured client relationships.
• Assante Wealth Management: Canadian independent wealth management dealer (CI Financial subsidiary) serving HNW and affluent clients with financial planning, investment, and insurance solutions through a national advisor network. Directly comparable independent-broker model.
• Nicola Wealth Management: Canadian independent wealth management firm offering financial planning, investment management, and insurance primarily to HNW clients in Western Canada. Closely comparable regional HNW-focused model and fee structure.
• IG Wealth Management: One of Canada's largest independent wealth management firms (part of IGM Financial), offering financial planning, investment management, and insurance through a national advisor network. Most direct large-scale comparable to FSG's Comprehensive Financial Planning + Manulife Group Savings Plan model.
• Raymond James Canada: Canadian arm of Raymond James offering independent wealth management through a network of financial advisors. Comparable independent-dealer model with multi-product financial planning and insurance offerings.
• Credential Financial Strategies: Canadian independent financial planning network affiliated with credential Qtrade, providing financial planning and investment advice to individuals and small businesses through a national advisor base. Comparable independent financial planning dealer.

Broad incumbents

• Manulife Wealth: Manulife's advisor-led wealth management division; closely tied to the same Manulife Group Savings Plan and Manulife segregated funds platform that FSG distributes. A broad incumbent that is both a platform partner and a competitor for individual wealth clients.
• CI Private Wealth: CI Financial's HNW wealth management arm delivering financial planning, investment management, and insurance through advisors. Comparable integrated financial planning offering at greater scale than FSG.
• Desjardins Financial Group: Large Canadian financial cooperative offering wealth management, insurance, and banking products through advisors across Quebec and nationally. A broad incumbent competitor with overlapping financial planning, insurance, and group retirement capabilities (including the Get Benefits SMB segment).

Emerging players

• MD Financial Management: Canadian wealth management firm (Scotiabank subsidiary) focused on financial planning, investment, and insurance for professionals and their families. Comparable holistic-planning HNW segment focus with a more concentrated niche.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/financial-services-group

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

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 Financial Services Group