logo IGM Financial

IGM Financial is one of Canada’s premier personal financial services companies, and one of the country’s largest managers and distributors of mutual funds and other managed asset products.

The company serves the financial needs of Canadians through multiple distinct businesses, including Investors Group, Mackenzie Investments and Investment Planning Counsel.

IGM Financial Website

Latest reports
2017 Annual Report
Download
1st Quarter Report 2018
Download

Subsidiaries

Investors Group

Investors Group

Investors Group is a national leader in delivering personalized financial solutions through its network of consultants to nearly one million Canadians.

Investors Group is committed to comprehensive planning and offers an exclusive family of mutual funds and other investment vehicles, along with a wide range of insurance, securities, mortgage and other financial services.

Mackenzie Investments

Mackenzie Investments

Mackenzie Investments is recognized as one of Canada’s premier investment managers and provides investment advisory and related services through multiple distribution channels focused on the provision of financial advice.

Mackenzie offers mutual funds, pooled funds, segregated accounts and separate accounts for retail and institutional investors.

Investment Planning Counsel

Investment Planning Counsel

Investment Planning Counsel is an integrated financial service company focused on providing Canadians with high-quality financial products, services, and advice through its network of independent financial advisors. The company if dedicated to providing independent financial advisors with the tools, products and support they need to build a successful business and serve a wide range of clients.

Investment Planning Counsel is one of the largest financial planning organizations in Canada. Since its inception in 1996, it has continued to evolve and grow to meet the needs and expectations of its clients and advisors.


Financial Highlights

 

For the three months ended

For the years ended

(In millions of Canadian dollars, except per share amounts or as otherwise noted)
(unaudited)

June 30
2018

March 31
2018

June 30
2017(1)

December 31
2017(1)

December 31
2016(1)

Financial highlights 

         

Revenues

816.0

809.6

798.2

3,154.0

3,044.7

Earnings available to common shareholders

         

Net earnings

203.7

185.5

200.8

601.9

770.5

Adjusted net earnings(2)

203.7

185.5

185.9

727.8

736.5

Diluted earnings per share

         

Net earnings

0.85

0.77

0.83

2.50

3.19

Adjusted net earnings(2)

0.85

0.77

0.77

3.02

3.05

Return on equity (adjusted net earnings)(2)

18.2%

17.5%

15.6%

15.6%

16.3%

Dividends per share

0.5625

0.5625

0.5625

2.2500

2.2500

Average daily investment fund assets (in billions)

150.9

150.1

144.3

143.7

130.2

Total assets under management (in billions)

159.1

155.8

148.6

156.5

142.7

(1) As of January 1, 2018, IGM Financial adopted IFRS 9, Financial Instruments, and IFRS 15, Revenue from Contracts with Customers. IGM Financial elected not to restate its comparative information for the effect of applying these new standards. Refer to IGM Financial's most recent interim consolidated financial statements and Management's Discussion and Analysis for the impacts of the adoption of these standards. 
(2) Adjusted net earnings are a non-IFRS financial measure. Refer to IGM Financial's most recent Management’s Discussion and Analysis for the definition of non-IFRS financial measures and their reconciliation with IFRS financial measures.

For the years ended December 31 [in thousands of Canadian dollars, except as otherwise noted]
(unaudited)

2017

2016

2015

2014

2013

Condensed Consolidated Statements of Earnings

         

Fee income

3,005,733

2,856,934 2,833,355 2,762,578

2,513,186

Net investment income and other

148,277

187,849 194,590 164,706

176,836

 

3,154,010

3,044,783 3,027,945 2,927,284

2,690,022

Expenses

2,369,358

2,097,846 2,037,153 1,962,321

1,708,642

Income before income taxes

784,652

946,937 990,792 964,963

981,380

Income taxes

173,887

167,633 210,250 202,862

210,626

Net earnings

610,765

779,304 780,542 762,101

770,754

Perpetual preferred share dividends

8,850

8,850

8,850

8,850

8,850

Net earnings available to common shareholders

601,915

770,454 771,692 753,251

761,904

Adjusted net earnings available to common shareholders(1)

727,801

736,454 796,001 826,100

763,510

Diluted earnings per share

         

Net earnings

2.50

3.19 3.11 2.98

3.02

Adjusted net earnings(1)

3.02

3.05 3.21 3.27

3.02

Dividends per share

2.25

2.25

2.25 2.18

2.15

Return on average common equity (ROE) (%)

         

Net earnings

12.9 17.1 16.9 16.2

17.3

Adjusted net earnings(1)

15.6

16.3

17.4

17.8

17.3

Average shares outstanding (in thousands)

         

— Basic

240,585

241,300 248,173 252,108

252,013

— Diluted

240,921

241,402 248,299 252,778

252,474

Share price (closing $)

44.15

38.20 35.34 46.31

56.09

(1) Non-IFRS financial measures. Refer to IGM Financial's most recent Management’s Discussion and Analysis for the definition of non-IFRS financial measures and their reconciliation with IFRS financial measures.

Excludes other items as follows:

2017 — An after-tax charge of $143.6 million related to restructuring and other charges, the favourable revaluation of IGM's registered pension plan obligation of $36.8 million after-tax and an after-tax net charge of $19.1 million representing IGM's proportionate share of other items of Great-West Lifeco Inc. (Lifeco).
2016 — A favourable change in income tax provision estimates of $34.0 million related to certain tax filings. 
2015 — An after-tax charge of $24.3 million related to restructuring and other charges.
2014 — An after-tax charge of $59,2 million related to distributions to clients, as well as other costs and an after-tax charge of $13.6 million related to restructuring and other charges.
2013 — An after-tax charge of $10.6 million related to restructuring and other charges and an after-tax benefit of $9.0 million representing IGM's proportionate share of net changes in Lifeco's litigation provision.

Scroll To Top