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Subject: JVN

EXOS Wealth Systems Inc. welcomes Empire Life as minority shareholder


KINGSTON, ON, May 24, 2022 /CNW/ - The Empire Life Insurance Company ("Empire Life") today announced it has invested in EXOS Wealth Systems Inc. ("EXOS") as a minority shareholder.

Through its Monarch Wealth branded entities, EXOS provides mutual funds and GIC products to the Canadian marketplace through a network of independent advisors.

"This investment further demonstrates Empire Life's commitment to independent financial advice for Canadians," says Mark Sylvia, President and CEO of Empire Life, who now joins the EXOS Board of Directors. "The EXOS group of companies shares that commitment and is recognized for its growth and technology leadership in the industry."

Richard Pyper, Chair and Chief Executive Officer of EXOS, says having Empire Life as a shareholder supports his company's technology-led growth strategy. "We approached Empire Life because of their demonstrated commitment to independent advice, their long-term vision and their track record. This is a very positive development both for us and for the advisors we work with."

Mr. Pyper also shared that, as a result of the investment by Empire Life, EXOS is immediately launching a lending program to assist advisors in acquiring books of business.

About Empire Life

Established in 1923 and a subsidiary of E-L Financial Corporation Limited, Empire Life provides individual and group life and health insurance, investment and retirement products. The company's mission is to make it simple, fast and easy for Canadians to get the products and services they need to build wealth, generate income, and achieve financial security. As of March 31, 2022, Empire Life had total assets under management of $18.6 billion. Follow us on social media @EmpireLife or visit empire.ca for more information. 

About EXOS Wealth Systems Inc.

EXOS Wealth Systems Inc. was founded with a pioneering vision: to help entrepreneurial financial advisors establish successful business through which they could offer truly independent financial guidance and advice. In pioneering a revolutionary technology platform, EXOS Wealth Systems has embraced the independent advisor channel with efficient, transparent and fund-agnostic tools offering customizable investment solutions to a wide range of clients ? from the average investor to the affluent.

About Monarch Wealth Systems Inc.

As a boutique firm, Monarch Wealth Systems Inc. has been supporting extraordinary relationships between investors and advisors for 50 years. Monarch's technology platform provides advisors with a seamless interface to manage business complexities, empowering delivery of high quality, independent investment management solutions to investors using a more profitable business model. Its advisors can efficiently provide advice to more investors with less data entry, less paperwork, and automated rebalancing. Monarch advisors can provide outstanding service and sound, unbiased wealth management advice for every stage of an investor's life. For more information about Monarch Wealth, visit monarchwealth.ca.

SOURCE The Empire Life Insurance Company


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