Topic: How To Invest

The Successful Investor Hotline – Friday, July 3, 2020

Article Excerpt

GREAT-WEST LIFECO INC., $23.75, Toronto symbol GWO, is still a hold. The company is Canada’s second-largest life insurer, after Manulife Financial. It also offers mutual funds and wealth management services. Power Corp. (Toronto symbol POW) owns 66.9% of the firm. Great-West is now buying California-based Personal Capital. It currently manages $12.3 billion U.S. in assets. The company plans to merge the privately held firm, which sells its services directly to 2.5 million consumers, with its U.S.-based Empower Retirement business; it focuses on pension plans with a total of 9.7 million participants. Personal Capital’s technology will make it easier for the combined firm’s clients and pension plan members to see a comprehensive view of their holdings. The merger also gives Great-West the opportunity to cross-sell products and services to those and improve the financial performance of their portfolios. Great-West will initially pay $825 million U.S. when it completes the purchase in the next few months. Depending on Personal Capital’s future performance, it may have to pay an additional $175 million…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.