IGM Financial Inc. (IGIFF) Q4 2024 Earnings Call Transcript

2025-02-07 14:27:04 ET

IGM Financial Inc. (IGIFF)

Q4 2024 Earnings Conference Call

February 07, 2024, 08:00 AM ET

Company Participants

Kyle Martens - Treasurer and Head of Investor Relations

Damon Murchison - President and Chief Executive Officer of IG Wealth Management

Luke Gould - President and Chief Executive Officer of Mackenzie Investments

James O'Sullivan - President and Chief Executive Officer

Keith Potter - Executive Vice President and Chief Financial Officer

Conference Call Participants

Nikolaus Priebe - CIBC

Tom MacKinnon - BMO

Graham Ryding - TD Securities

Aria Samarzadeh - Jefferies

Phil Hardie - Scotiabank

Jaeme Gloyn - National Bank Financial, Inc.

James Shanahan - Edwards Jones

Presentation

Operator

Good day, and welcome to the IGM Financial Fourth Quarter 2024 Results Conference Call and Webcast [Operator Instructions]. Please note this event is being recorded. I would now like to turn the conference over to Kyle Martens, Head of Investor Relations. Please go ahead.

Kyle Martens

Thank you, Betsy. Good morning, everyone, and welcome to today's call. Joining me on the call today, we have James O'Sullivan, President and CEO of IGM Financial; Damon Murchison, President and CEO of IGM Wealth Management; Luke Gould, President and CEO, Mackenzie Investments; and Keith Potter, Executive Vice President and CFO of IGM Financial.

Before we get started, I would like to draw your attention to our cautions concerning forward-looking statements on Slide 3 of the presentation. Slide 4 and five summarizes non-IFRS financial measures and other financial measures used in the material. And on Slide 6, we provide a list of documents that are available on our website related to IGM's Q4 results.

I will take us to Slide 9 and turn it over to James.

James O'Sullivan

Thank you, Kyle, and good morning, everyone. During 2024, we continued to execute on our growth strategy at IGM Financial with important progress and success across all our businesses. We achieved adjusted EPS of $3.95, up 12% relative to 2023 and our second highest year on record and we returned over $650 million of capital to shareholders through our common dividend and share repurchase program.

We grew our client assets, including our proportionate share for strategic investments by 24%, reaching over $480 billion at the end of the year. Our core businesses, IG Wealth and Mackenzie made up a large portion of our growth in assets and drove the majority of our earnings growth in the year, demonstrating the strength of our core.

Our strategic investments also delivered strong client asset growth, including significant new inflows across each of the 4 businesses. We have the businesses that we want, and 2024 results support our belief that we are well positioned and have architected IGM to deliver growth.

Turning to Slide 10. As we look ahead to 2025, we will continue to invest in our wealth and asset management businesses, building on recent success in supporting their long-term growth. At IG Wealth Management, we will leverage our leading adviser platform and strong momentum to drive further gains in the mass affluent and high net worth segments. And Mackenzie remains focused on delivering investment excellence, leveraging and expanding our distribution advantage and elevating the client and adviser experience....

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