IGM:CC - IG Wealth Management Selects nesto to Help Grow Its Mortgage Business

Canada NewsWire

New strategic agreement will leverage nesto's innovative digital mortgage platform to provide IG clients and Advisors with a modern mortgage experience

WINNIPEG, MB and MONTREAL , Dec. 13, 2022 /CNW/ - IG Wealth Management ("IG"), part of the IGM Financial Inc. (IGM) (TSX: IGM) family of companies, and nesto today announced that they have entered into a strategic agreement to have nesto provide next generation white label mortgage services to IG clients across Canada through its Mortgage Cloud solution.

The initiative is the latest example of IG's ongoing strategy to transform its business and follows the firm's modernization of its investment management and financial planning platforms.

"Through this exciting partnership, IG Advisors will be equipped with new innovative tools and digital capabilities to provide our clients with a best-in-breed mortgage experience," said Damon Murchison , President and CEO, IG Wealth Management.  "We look forward to further elevating the way in which we work with our clients through our collaboration with nesto and expect to realize enhanced efficiencies and growing profitability."

nesto's Mortgage Cloud solution and extensive expertise will be integrated into IG's mortgage solutions business. It will allow IG Advisors to provide clients with an enhanced, modern mortgage experience through:

• an online application process;
• quick turnaround times;
• live tracking and regular status updates; and
• dynamic tools such as the ability to upload mortgage documents using a mobile device.

"We're proud to be working alongside another uniquely Canadian company to expand the positive impact of nesto's business for Canadians seeking a better mortgage solution," said Malik Yacoubi , CEO, nesto. "We look forward to helping IG enhance the client experience, from mortgage origination to final payment."

In conjunction with this announcement, IGM Financial has made an equity investment in nesto.  Further, Damon Murchison has joined nesto's Board of Directors.

Alana Riley , IG's Head of Mortgage, Insurance & Banking, shared, "We're thrilled to be working with nesto and share their commitment to provide Canadians with positive and empowering property financing solutions. Our team is looking forward to leveraging their technology, processes, and talent to enhance our mortgage and credit services and provide a mortgage platform that fully integrates into our clients' financial plans."

IG Wealth Management and nesto will begin offering the newly integrated mortgage services on nesto Mortgage Cloud solution in February 2023 .

Founded in 1926, IG Wealth Management is a national leader in delivering personalized financial solutions to Canadians through a network of advisors located across Canada . In addition to an exclusive family of mutual funds and other investment vehicles, IG offers a wide range of other financial services. IG Wealth Management has $113.7 in assets under advisement as of November 30, 2022 and is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's leading diversified wealth and asset management companies with approximately $257 billion in total assets under management and advisement as of November 30, 2022 .

nesto is Canada's leading digital mortgage lending platform, with a dedicated team of qualified mortgage experts supported by advanced technologies. The company is on a mission to offer a positive, empowering and transparent property financing experience, simplified from start to finish to all Canadians. nesto is delivering on this mission by offering Canadians a leading digital mortgage experience and by empowering other mortgage lenders to improve and streamline their mortgage lending operations with the nesto Mortgage Cloud.

Certain statements in this Release, other than statements of historical fact, are forward?looking statements based on certain assumptions and reflect IGM Financial's current expectations. Forward?looking statements are provided to assist the reader in understanding the Company's financial position and results of operations as at and for the periods ended on certain dates and to present information about management's current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These statements may include, without limitation, statements regarding the integration of nesto's Mortgage Cloud solution into IG's mortgage solutions business, including the benefits and timing thereof. Forward?looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts" or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could".

This information is based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward?looking statements, including the perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. While the Company considers these assumptions to be reasonable based on information currently available to management, they may prove to be incorrect.

By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved.

A variety of material factors, many of which are beyond the Company's and its subsidiaries' control, affect the operations, performance and results of the Company, and its subsidiaries, and their businesses, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, management of market liquidity and funding risks, changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates), the effect of applying future accounting changes, operational and reputational risks, business competition, technological change, changes in government regulations and legislation, changes in tax laws, unexpected judicial or regulatory proceedings, catastrophic events, outbreaks of disease or pandemics (such as COVID?19), the Company's ability to complete strategic transactions, integrate acquisitions and implement other growth strategies, including the integration of nesto, and the Company's and its subsidiaries' success in anticipating and managing the foregoing factors.

The reader is cautioned that the foregoing list is not exhaustive of the factors that may affect any of the Company's forward?looking statements. The reader is also cautioned to consider these and other factors, uncertainties and potential events carefully and not place undue reliance on forward?looking statements.

Other than as specifically required by applicable Canadian law, the Company undertakes no obligation to update any forward?looking statements to reflect events or circumstances after the date on which such statements are made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.

Additional information about the risks and uncertainties of the Company's business and material factors or assumptions on which information contained in forward?looking statements is based is provided in its disclosure materials filed with the securities regulatory authorities in Canada , available at www.sedar.com .

SOURCE IG Wealth Management

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