This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

IGM Financial Inc.
11/7/2025
Thank you for standing by. This is the conference operator. Welcome to the IGM Financial third quarter 2025 analyst call and webcast. As a reminder, all participants are in a listen only mode and the conference is being recorded. After today's 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, Senior Vice President, Corporate Development and Investor Relations. Please go ahead.
Kyle Martin, Senior Vice President, Corporate Development and Investor Relations Please go ahead. Kyle Martin, Senior Vice President, Corporate Development and Investor Relations Good morning, everyone, and thank you for joining us. On the call today, we have James O'Sullivan, President and CEO, IGM Financial, Damon Murchison, President and CEO of IG Wealth Management, Luke Gould, President and CEO of McKinsey Investments, and Keith Potter, Executive Vice President and CFO of IGEM 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 within this presentation. On slide six, we provide a list of documents that are available on our website related to IGEM Financials. third quarter results.
That will take us to slide nine, where I'll turn it over to James. All right. Good morning, everyone, and thank you for joining us today. We're pleased to report another record quarter across many dimensions of our businesses, including an all-time high adjusted EPS of $1.27. Most importantly, the outstanding third quarter demonstrates strength and continued momentum in our core businesses, IG Wealth and McKenzie Investments. Last quarter, we noted an important inflection point in McKenzie's retail advisor channel. That momentum continued in the third quarter, alongside continued strength in the institutional and partnership channels, positioning McKenzie, I think, for sustained growth. IG Wealth's leadership in delivering best-in-class advice to mass affluent and high net worth clients continues to be a powerful growth engine, driving record assets and reinforcing our position as a premier wealth management firm in Canada. IG and McKenzie combined achieved $2.4 billion in net inflows during the quarter and delivered year-over-year earnings growth of 24% and 15% respectively. Complementing the strong performance in our core businesses, our strategic investments delivered continued growth and demonstrated value for IGM's shareholders. We have spoken in the past about narrowing the gap between trading price and net asset value by highlighting and demonstrating progress in our strategic investments. The Rockefeller transaction underscores its strong growth and adds new long-term investors, further strengthening the ownership base. Importantly, IGM will remain Rockefeller's second largest shareholder when the deal closes later this year and the only strategic in the capital stack. After doubling client assets in just over a year, Wealthsimple's financing round marked another key milestone for the firm. as they continue their focus on developing and launching innovative solutions for the benefit of their clients. IGM continues to be the largest shareholder of Wealthsimple, pro forma the financing round. Each of these investments remains strategically important to IGM. We're naturally very pleased to share these developments that showcase the significant value and strategic optionality embedded within our wealth management segment. Looking forward, we are in a very strong position financially and look forward to returning increasing amounts of capital to our shareholders in 2026. Moving to slide 10 in the current operating backdrop, markets have continued to be strong, driving IGM client returns of over 6% during the quarter. Resilient markets have continued to support investor confidence, helping drive another quarter of positive industry flows. At the same time, we're mindful that markets can correct at any time, and we keep a keen eye on differentials between the financial economy and the real economy. Periods of volatility remain probable over the near and medium terms. Slide 11 provides a snapshot of the strong double-digit earnings growth across all of our segments, which Keith will address later in the call. Finally, on slide 12, you'll see the double-digit asset growth across each of our businesses that contributed to IGM's record assets under management and advisement. I'll now turn the call over to Damon.
You're reading a preview of the IGM Q3 2025 earnings call.
Free account.