TruStone Financial Inc.

What TruStone Financial Inc. does

TruStone Financial Inc. is a Canadian managing general agency (MGA) formed in 2022 through the amalgamation of six legacy financial-services entities, operating as a wholly-owned subsidiary of The Empire Life Insurance Company. The company contracts with more than 1,100 independent financial advisors across Ontario and western Canada and reports over $1.2 billion in assets under management across its distributed book. TruStone is headquartered in Mississauga, with regional offices in London (Ontario) and Burnaby (British Columbia), and a headcount of approximately 50 employees.

TruStone's product set is built around the Advisor Centre, a password-protected portal that gives contracted advisors access to commission schedules, calculators, compliance resources, group insurance materials, investment tools, preferred pricing, webinars, and The TruStone Report newsletter. The company monetizes via transaction-fee commissions earned from a panel of more than 20 insurance carriers (Empire Life, Canada Life, Manulife, Sun Life, RBC Insurance, BMO Insurance, iA Financial, Desjardins, ivari, Assumption Life, Beneva, Equitable Life, Foresters Financial, Humania, Canada Protection Plan, VUMI Canada, and others) for the distribution of life insurance, travel health insurance, group benefits, and segregated funds. Supporting products include TruStone University (a learning and CE-credit platform hosting Wealth, Spring, Compliance, and Fall Symposiums), TruStone Rewards (a points-based loyalty program for settled business), TruStone Meetings (virtual compliance and HNW planning sessions), TruStone Health (a travel and health insurance division serving visitors to Canada, Super Visa applicants, and outbound travelers, with planned International Student Coverage), and Rates & Quotes Tools (WinQuote, LifeGuide, CompeteCA, Cannex-powered comparison and rate utilities).

The company's go-to-market is channel-led: TruStone recruits independent advisors, then services them through regional offices, an annual symposium calendar, virtual meetings, and dedicated account management. The firm is PIPEDA-compliant, has designated a Privacy Officer, and does not disclose commission schedules publicly. There is no evidence of proprietary technology, AI/ML capability, external venture or private equity funding, or material M&A activity — TruStone operates as a stable distribution platform within the Empire Life group.

Name

TruStone Financial Inc.

Legal name

TruStone Financial Inc.

Website

https://trustonefinancial.ca

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

TruStone Financial Inc. is a Canadian managing general agency and wholly-owned subsidiary of Empire Life that serves more than 1,100 independent financial advisors across Ontario and western Canada with multi-carrier access, training, and rewards programs.

Ownership category

akta.pro rank

Product category

Managing General Agency Services

NAICS

Finance and Insurance (52), Portfolio Management and Investment Advice (523940)

SIC

Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321)

akta.pro primary industry

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

akta.pro secondary industry

Independent Broker-Dealers (Retail Network) (FSAAAAAC)

Keywords

• Managing general agency
• Insurance distribution services
• Life insurance brokerage
• Group benefits administration
• Travel health insurance

Headquarters

HQ city

Mississauga

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Managing General Agency Services: TruStone Financial generates revenue as a Managing General Agency (MGA) by acting as an intermediary between independent insurance advisors/brokers and insurance companies. The company earns commissions from insurance carriers for the distribution of insurance products (life insurance, travel health insurance, group benefits, segregated funds) through its network of advisors. The company was formed in 2022 by amalgamating six entities and operates as a wholly-owned subsidiary of The Empire Life Insurance Company.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

TruStone Financial Inc. is a managing general agency (MGA) that acts as an intermediary between independent insurance advisors and multiple insurance carriers in Canada. The company distributes life insurance, travel health insurance, group benefits, and segregated funds through its network of more than 1,100 independent advisors, while providing advisors with administrative services, compliance support, marketing tools, and professional development through TruStone University.

Product overview

TruStone Financial Inc. is a multi-dimensional bespoke managing general agency (MGA) and wholly-owned subsidiary of The Empire Life Insurance Company, formed in 2022 by amalgamating six entities. The company operates as a national organization serving over 1,100 independent financial advisors across Ontario and western Canada with more than $1.2 billion in assets under management. The core product is the TruStone Advisor Centre, a password-protected portal providing access to commission schedules, calculators, compliance programs, group insurance resources, investment tools, preferred pricing, webinars, and The TruStone Report. Supporting products include TruStone University (learning and development platform), TruStone Rewards (advisor loyalty program), TruStone Health (travel and health insurance division), TruStone Meetings (virtual meeting platform), and Rates & Quotes Tools (financial planning and insurance comparison tools). The company facilitates access to insurance products from multiple carrier partners including Assumption Life, Beneva, BMO Insurance, Canada Life, Canada Protection Plan, Combined Insurance, Desjardins Insurance, Empire Life, Equitable Life, Foresters Financial, Humania Assurance, iA Financial Group, ivari, Manulife Financial, RBC Insurance, Sun Life Financial, and others.

Differentiator

Problem solved

Functional benefit

Brands

• TruStone Health: Travel and health insurance division of TruStone Financial Inc., providing peace of mind through comprehensive and reliable travel health insurance coverage for travelers and their families. Offers coverage for visitors to Canada and Canadian residents traveling internationally.
• TruStone University
• TruStone Rewards

Products and services

• TruStone Advisor Centre

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

19 partnerships are on record, tiered core and minor.

• The Empire Life Insurance Company (Empire Life)coreStrategic or Co-development PartnerParent company and primary strategic partner. Empire Life is a leading Canadian insurer and wholly owns TruStone Financial Inc. TruStone was formed in 2022 by amalgamating six entities and operates as a wholly-owned subsidiary of Empire Life, combining the strength of a leading insurer with the agility and personalization of a boutique MGA.
• Assumption LifeminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life insurance and investment products through TruStone's advisor network.
• Beneva (La Capitale & SSQ Insurance)minorChannel Partner/ Reseller/ DistributorInsurance carrier partner offering individual and group insurance products.
• BMO InsuranceminorChannel Partner/ Reseller/ DistributorMajor bank-owned insurance provider accessible through TruStone's advisor network.
• Canada LifeminorChannel Partner/ Reseller/ DistributorMajor Canadian insurance provider offering life insurance and investment products.
• Canada Protection PlanminorChannel Partner/ Reseller/ DistributorInsurance provider specializing in simplified issue and no-medical life insurance.
• Desjardins InsuranceminorChannel Partner/ Reseller/ DistributorCooperative financial services provider offering insurance and investment products.
• Empire LifecoreChannel Partner/ Reseller/ DistributorParent company also serves as a key insurance carrier partner, with eVision illustration software platform.
• Equitable LifeminorChannel Partner/ Reseller/ DistributorCanadian insurance provider offering individual insurance and universal life investments.
• Foresters FinancialminorChannel Partner/ Reseller/ DistributorFraternal benefit organization providing life insurance products.
• Humania AssuranceminorChannel Partner/ Reseller/ DistributorInsurance provider offering products including Children360, Hugo, and no-medical insurance options.
• iA Financial GroupminorChannel Partner/ Reseller/ DistributorMajor Canadian insurance and wealth management company.
• iA ExcellenceminorChannel Partner/ Reseller/ DistributorSpecialized division of iA focused on excellence products with Assure&go illustration software.
• ivariminorChannel Partner/ Reseller/ DistributorInsurance provider with iVari 360 advisor platform.
• Manulife FinancialminorChannel Partner/ Reseller/ DistributorGlobal insurance and financial services provider.
• RBC InsuranceminorChannel Partner/ Reseller/ DistributorRoyal Bank of Canada insurance subsidiary.
• Sun Life FinancialminorChannel Partner/ Reseller/ DistributorMajor Canadian insurance and financial services company.
• TruStone HealthcoreStrategic or Co-development PartnerTravel and health insurance division of TruStone Financial, providing coverage for visitors to Canada, outbound travelers, and plans for international students. Website: trustonehealth.ca, Phone: 1 (888) 797-2959.
• VUMI CanadaminorChannel Partner/ Reseller/ DistributorInsurance provider offering individual and corporate group health insurance solutions for Canada.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• CapriCMW Insurance Services: Western Canadian insurance brokerage providing personal, commercial, life, and group benefits through independent advisors with multi-carrier access. Comparable to TruStone in advisor-led, multi-carrier distribution concentrated in western Canada.
• Waypoint Insurance: Canadian insurance brokerage operating across multiple provinces with multi-carrier representation and a focus on life, group, and wealth products through independent advisors. Comparable to TruStone in advisor-led, multi-carrier distribution with a national ambitions profile.
• Westland Insurance Group: Large Canadian insurance brokerage with strong western Canada presence, distributing personal, commercial, life, and group benefits through a network of branches and brokers. Closely comparable to TruStone in its multi-carrier, advisor-led distribution model, especially in TruStone's western Canadian footprint.
• ALIGNED Insurance: Canadian insurance brokerage representing multiple carriers and serving clients across Canada through a network of advisors and offices. Directly comparable to TruStone as a multi-carrier, advisor-driven distribution platform for life, group, and commercial insurance.
• Navacord: Canadian multi-carrier insurance brokerage platform that supports partner brokerages across Canada with shared services, carrier access, and back-office infrastructure. Directly comparable to TruStone as a multi-carrier MGA/platform supporting independent advisors, though with a broader partner-brokerage model.

Emerging players

• Mitch Insurance: Canadian digital-first insurance brokerage offering life, travel, and group products through a tech-enabled platform serving individuals and small groups. Comparable to TruStone in distributing life and travel insurance, with a stronger digital/consumer-direct orientation.
• Billyard Insurance Group: Growing Canadian insurance brokerage franchise network recruiting independent insurance brokers across Canada with multi-carrier access. Comparable to TruStone's recruitment and enablement of independent advisors, though with a franchise model and broader national footprint including Ontario.

Broad incumbents

• BrokerLink (Intact Financial Corporation): Canadian insurance brokerage subsidiary of Intact Financial, distributing personal, commercial, life, and group insurance across Canada through a national broker network. Comparable as a multi-carrier, advisor-driven distribution platform competing for the same independent advisor and end-customer relationships that TruStone serves.
• Hub International: One of the largest North American insurance brokerages, providing personal, commercial, life, and group benefits products through a vast advisor/broker network with multi-carrier access. Directly comparable to TruStone's role as an MGA aggregating advisor access to multiple carriers, though at materially larger scale and with broader geographic reach.

Others

• Canada Life (Great-West Lifeco): Major Canadian insurance carrier offering life, health, group, and wealth products; one of TruStone's key carrier partners and a counterparty in the same value chain. Comparable as an upstream supplier to TruStone's advisor network rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/trustonefinancial

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 TruStone Financial Inc.