PI Financial Corp. and Echelon Wealth Partners Inc. Close Transaction to Combine Under Common Ownership

Press Release April 3, 2023

VANCOUVER, BC, and TORONTO, ON, April 3, 2023 – PI Financial Corp. (PI) and Echelon Wealth Partners Inc. (Echelon) today announced they have received regulatory approval for ownership changes that resulted in common ownership effective April 1, 2023. PI and Echelon will continue to run independently until the amalgamation of their operations, which is expected to be completed in early 2024.

This transition to ownership under common equity and subsequent amalgamation of operations will result in a merger of equals, creating a truly national independent firm poised for continued growth. The amalgamated firm will serve clients with greater scale, deeper experience and expertise, and enhanced services that allow it to leverage new opportunities and create value for both clients and employees. The combined capital markets franchise is the second largest amongst Canadian non-bank capital markets firms*.

“This is an important milestone worth celebrating as we continue toward our ultimate objective of creating a new and truly special combined firm,” stated David Cusson, CEO of Echelon. “Now the real work begins. We started with a shared vision of the combined firm, and we are now focused on bringing that vision to life.”

“In the upcoming months, our teams will be exploring how we can best leverage our complementary services and skills to build a new, independent firm, that will continue to achieve profitable growth,” said Jean-Paul Bachellerie, Chairman and CEO of PI. “Through a focus on delivering exceptional client service and a proactive approach to identifying opportunities, we will build a successful national firm with our new partners.”

About Echelon Wealth Partners
Echelon Wealth Partners Inc. is a leading independent Wealth Management and Capital Markets firm based in Toronto, Ontario, with over 60 advisor teams, and over $20 Billion in capital raised in the past 6 years by our Echelon Capital Markets team, serving clients across Canada from offices in Victoria, Vancouver, Calgary, Edmonton, London, Oakville, Ottawa, Toronto, and Montreal.

About PI Financial
Founded in 1982, PI Financial has become one of Canada’s largest independent investment dealers with approximately 300 employees from Toronto, to our headquarters in Vancouver, BC. PI Financial provides expertise across a variety of growth sectors and delivers a full range of research, investment banking, advisory, and sales & trading services to its institutional clients. For private clients, PI offers a comprehensive wealth management platform for its Investment Advisors and Portfolio Managers who provide customized advice to their clients and access to the full spectrum of securities products and services.

Media Contact:

Justine Hall Longview Communications & Public Affairs

*Source: FP Infomart 2022 League Tables Full Bookrunner Credit

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