The following is a summary of the IGM Financial Inc. (IGIFF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Adjusted EPS increased to $0.93, up 4.5% year-over-year, supported by growth in assets under management and administration (AUM&A), which saw a near 15% increase from the previous year.

• IGM's ending AUM&A reached a record high, supported by strong organic growth and strategic investments.

Business Progress:

• IG Wealth reported an assets under administration (AUA) of $130 billion, marking an 11% year-over-year increase.

• China AMC continues to grow, leveraging its competitive position to expand AUM across various product categories.

• Wealthsimple and Rockefeller Capital Management demonstrated significant client acquisition and asset growth.

• Mackenzie Investments experienced a rebound in gross sales and maintained strong asset management results, with plans to launch new investment products.

Opportunities:

• Continued investment in new partnerships and technology to enhance tax planning and assessment services for high net worth clients, improving advisor productivity and client service.

• Expansion in health care assessments through partnerships, allowing high net worth clients access to additional services.

Risks:

• The Canadian mutual fund industry's continued net redemptions pose a challenge, although improvements are anticipated gradually towards 2025.

More details: IGM FINANCIAL INC IR

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