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The Centrals represent approximately credit unions across Canada. Aviso Wealth will be a Canadian financial services leader with notable strengths in wealth management, asset management, online brokerage and digital advice, mutual funds and correspondent services.
Through its subsidiaries, Aviso Wealth will offer a wealth management platform with the necessary scale and resources to meet the evolving needs of its credit union partners and their members. In addition, Aviso Wealth will continue to expand and evolve the products and services now provided by Credential, Qtrade and NEI to third party dealers, institutional and other partners and individual clients.
The new organization will be national in scope, with its main offices in Toronto and Vancouver and regional offices across the country.
The three merging businesses are currently owned by one or a combination of the Aviso Wealth equity holders. This is another great step forward in our pan-Canadian development and good news for our clients and members.
Our goal is to ensure that choice gives them access to excellent investment planning and advice, lower management fees, and the products and services that best meet their needs. Aviso Wealth will significantly enhance the credit union experience by providing members with an integrated range of innovative and competitively priced products and services. The transaction is expected to close in the first quarter of , subject to approval from regulators and compliance with customary closing conditions.
To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. Counted among the world's strongest banks according to The Banker magazine, Desjardins has one of the highest capital ratios and credit ratings in the industry.
Collectively, the five centrals represent the majority of credit unions excluding the Desjardins caisse network across the country. As the leading provider of insurance-related products and services to the Canadian credit union system, CUMIS serves approximately credit unions, with a total of more than five million members.
In addition to wealth management products, The Co-operators offers home, auto, life, group, travel, commercial and farm insurance.
The Co-operators is well known for its community involvement and its commitment to sustainability, and is listed among the Best Employers in Canada by Aon Hewitt and Corporate Knights' Best 50 Corporate Citizens in Canada. Caution concerning forward-looking statements Certain statements made in this press release may be forward-looking. By their very nature, forward-looking statements involve assumptions, uncertainties and inherent risks, both general and specific.
It is therefore possible that, due to a number of factors, the predictions, projections or other forward-looking statements as well as objectives and priorities of the parties may not materialize or may prove to be inaccurate and that actual results differ materially. Various factors beyond the control of the parties could influence the accuracy of the forward-looking statements in this press release.
Although the parties believe that the expectations expressed in these forward-looking statements are reasonable, it can give no assurance or guarantee that these expectations will prove to be correct. The parties caution readers against placing undue reliance on forward-looking statements when making decisions. None of the parties undertakes to update any written or verbal forward-looking statements that could be made from time to time by or on behalf of the parties, except as required under applicable securities laws.
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