Independent multidisciplinary insurance dealer PEAK Financial Group has announced that it has made a major transaction with L.E.S Financial Services, with the goal of forming a partnership between the two.
L.E.S Financial Services is a group of advisors headed by Lorne Schecter that provides living benefits insurance for over 6,000 doctors and other healthcare professional across the country.
Learn more about Business insurance here.
The deal between both companies “reflects PEAK’s ambitions to continue to develop as the largest fully independent multidisciplinary group in Canada,” a release said. PEAK’s assets under administration grew 38% over the past five years and the company has recently acquired three MGAs as well, solidifying its presence in the insurance industry.
“This is excellent news,” said PEAK Financial Group chairman and CEO Robert Frances. “We will expand the reach of our insurance services. This transaction also allows PEAK and L.E.S Financial Services to form a competitive partnership. L.E.S Financial Services’ clients will be able to access unbiased financial advice through PEAK Advisors.”
“This partnership guarantees long-term continuity both for our firm and for our clients,” added L.E.S head Lorne Schecter. “PEAK offers us the opportunity to continue doing what is most important to us - serving our clients - while broadening their opportunities with a powerful service offering. We will all benefit from the stability and soundness of this fully independent financial group. L.E.S and PEAK have a shared vision and values, including integrity and objectivity of advice, and I am confident L.E.S will benefit from PEAK Insurance Services’ outstanding back-office service.”
Related stories:
Hospitality insurance calls for brave brokers
Major insurer with Canadian specialist arm rallies profits before Q1 report
