Co-operators Acquires Roger Ghent Financial Services: A Strategic Move in the Wealth Management Industry

The trend of property and casualty (P&C) brokers acquiring financial planning and wealth management firms is on the rise, and the recent acquisition of Roger Ghent Financial Services by insurance company Co-operators is a prime example of this growing trend. The transaction, which closed on May 13, 2024, marks a significant move in the industry.

Roger Ghent, a wealth advisor based in Booklin, Ont., had been operating independently for nearly 30 years before the acquisition. With over 200 clients and managing approximately $35.9 million in assets, Ghent’s firm was a valuable asset for Co-operators to acquire.

The main goal of this acquisition, according to Co-operators, is to address the increasing need in the wealth and financial services industry to provide strategic transition opportunities for advisors who are considering retirement. By positioning themselves as a bridge to retirement for wealth managers and advisors who are not yet ready to stop working, Co-operators is setting itself up for success in the evolving landscape of the industry.

One of the key aspects of this acquisition is the transition planning that has been put in place. Roger Ghent will stay on with Co-operators for the next 18 months before retiring in 2025. This ensures a smooth transition for clients and provides continuity for the firm’s operations.

The trend of P&C brokers acquiring wealth management and financial planning firms has been gaining momentum in recent years. With larger firms looking to diversify their product offerings and access new talent, acquisitions like the one between Co-operators and Roger Ghent Financial Services make strategic sense.

Co-operators’ approach to the acquisition emphasizes the importance of providing outgoing professionals with a competitive price for their portfolios, as well as generous marketing and business support. This allows sellers to exit the business at their own pace while ensuring a seamless transition for clients.

Overall, the acquisition of Roger Ghent Financial Services by Co-operators highlights the evolving landscape of the wealth and financial services industry. As P&C brokers continue to expand their offerings and access new talent through acquisitions, the industry is set to see further growth and innovation in the years to come.