Back to top

Analyst Blog

Zacks Equity Research

Manulife to Buy Wellington West

MFC MET

 ZacksTrade Now

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Manulife Securities, the wholly-owned subsidiary of Manulife Financial Inc. (MFC - Analyst Report), has announced its intention to acquire Canada-based Wellington West Financial Services Inc. from its parent company, National Bank Financial Group.

Wellington West Financial Services is an investment management company which was acquired by National Bank in July 2011. Through its 39 financial advisors, the company provides innovative investment ideas with a wide offering of managed investment solutions. Wellington West also assists its customers with tax-planning, retirement-planning, estate-planning and insurance.

Since both companies -- Manulife and Wellington West -- are based in Canada, there will be no cultural differences, allowing seamless integration of both the companies with one another. Though the cost of acquisition has not yet been disclosed, the timing of the closure of the transaction has been fixed somewhere in the fourth quarter of 2012.

Upon adding Wellington West to Manulife Securities, a strong force of 1,250 independent advisors will be created with C$20 billion of assets under management. Together, they will offer independent financial planning and investment management services to individuals, families and business owners, covering a wide range of investment, banking and insurance options customized to fulfill their financial goals. 

This acquisition reinforces Manulife’s long-term strategic objective to strengthen its presence in the Canadian financial market.

Manulife currently retains a Zacks #2 Rank, which translates into a short-term Buy rating. Considering the fundamentals, we are maintaining our long-term Neutral recommendation on the shares.

Headquartered in Toronto, Canada, Manulife Financial operates as a life insurance company and offers reinsurance services. The company functions as Manulife Financial in Canada and Asia, and primarily as John Hancock in the United States. MetLife Inc. (MET - Analyst Report) is one of its biggest competitors.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GRP IN DXYN 15.84 +7.90%
BOFI HLDG IN BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%