IGM Financial Inc.

Thank you for standing by. This is the conference operator. Welcome to the IGM Financial First Quarter 2025 Analyst Call and Webcast. As a reminder, all participants are in a listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, You may signal an operator by pressing star then zero. I would now like to turn the conference over to Kyle Martin, Head of Investor Relations. Please go ahead.

Thank you, Betsy. Good morning, everyone, and welcome to today's call. Joining me here, we have James O'Sullivan, President and CEO of IGM Financial. Damon Murchison, President and CEO of IG Wealth Management. Luke Gould, President and CEO of McKinsey Investments. and Keith Water, Executive Vice President and CFO, IJM Financial. Before we get started, I would like to draw your attention to our cautions concerning forward-looking statements on slide three of the presentation. Slides four and five summarize non-IFRS financial measures and other financial measures used in the material. And on slide six, we provide a list of documents available on our website related to IJM's Q1 results. That will take us to slide nine, and I'll turn it over to James.

All right, thank you, Kyle, and good morning, everyone. I think we continued to demonstrate consistent growth during the first quarter, delivering adjusted earnings per share of $1, a first quarter record. Our core businesses, IG Wealth and McKenzie, also ended the quarter with record high client assets, while each of our strategic investments delivered double-digit year-over-year growth. Including strategic investments, our client assets grew by 19% year-over-year, surpassing, for the first time, half a trillion dollars at the end of the quarter. As our wealth and asset management businesses continue to execute on their plans, IGM's financial benefits from their diversified sources of growth across multiple geographies. We also benefit from their differentiated go-to-market strategies that are further elevated through real interconnectivity among businesses. This combination of diversification and growth is one dimension of our strong positioning as we navigate through today's complex economic environment and continue to execute toward our medium-term objectives. Another dimension is our balance sheet strength and financial flexibility, which is underscored by IGM's strong credit profile, modest leverage, and a significant unallocated capital balance, which exceeded $600 million at the end of March. According to slide 10 and the current operating environment for our businesses, started with recent financial market conditions. While much of the first quarter was characterized by considerable uncertainty, the financial markets, for the most part, proved resilient until early April when we saw a spike in volatility. Despite the volatility, our businesses remain well-positioned. This is a very good market for financial advice, a very good market for active management, And this is a very good time to have diversification in our businesses and in our client assets. And importantly, the driver of recent market volatility is at its core solvable uncertainty. To the extent the underlying issues are solved, the strength of our businesses will be most evident in the near term. If the market chooses not to recognize this, we are in a very strong financial position and have the firepower to purchase more IGM shares and will. As shown on slide 11, the positive momentum we saw in the Canadian operating environment during 2024 continued into the RRSP season. By March, the uncertainty had shown signs of weighing on investor confidence. While redemption rates were stable, we saw gross sales soften slightly at the industry level. Damon and Luke will speak to this and each of their businesses during this call. On slide 12, we present our wealth and asset management earnings results, which Keith will address shortly. And on slide 13, we see how each of the six wealth and asset management businesses contributed to IGM's strong asset growth over the course of the last year. We remain very confident in the business that we have architected over the past several years and its ability to drive strong medium-term earnings growth. Damon, over to you.