IGM Financial Inc. · TSX:IGM
IGM Financial — Investor Presentation (February 2025)
99 slides from IGM Financial's investor presentation, February 2025
Slide 1: IGM Financial Investor Presentation
IGM Financial Investor Presentation February 2025
Slide 2: Caution concerning forward-looking statements
Caution concerning forward-looking statements Certain statements in this report, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect IGM Financial Inc.’s (IGM Financial, IGM or the Company) and, where applicable, its subsidiaries’ and str
Slide 3: Non-IFRS financial measures & other financial measures
Non-IFRS financial measures & other financial measures This report contains Non-IFRS financial measures and non-IFRS ratios that do not have standard meanings prescribed by IFRS and may not be directly comparable to similar measures used by other companies. These measures and ratios are used to prov
Slide 4: Non-IFRS financial measures & other financial measures
Non-IFRS financial measures & other financial measures Other items Other items for the twelve months ended December 31, 2024 consisted of: • Tax loss consolidation of $4.7 million, recorded in the fourth quarter, related to the benefit from tax loss consolidation transactions that the Company has en
Slide 5: Documents incorporated by reference
Documents incorporated by reference This summary document and webcast are meant to discuss, not to serve as a substitute for, information included in these documents. The reader is hereby cautioned to refer to the following documents relating to IGM Financial’s results: 1. Documents related to IGM F
Slide 6: Presentation sections
Presentation sections IGM Financial Overview 8 Performance Summary 18 Wealth Management IG Wealth Management 31 Rockefeller Capital Management 49 Wealthsimple 53 Asset Management Mackenzie Investments 56 ChinaAMC 68 Northleaf 71 Financial results Fourth Quarter 2024 74 Appendix 96 6
Slide 7: Glossary
Glossary AUM&A Assets Under Management & Advisement IFIC The Investment Funds Institute of Canada AUA Assets Under Advisement IMF International Monetary Fund AUM Assets Under Management LTM Last Twelve Months CAGR Compound Annual Growth Rate MA Mass Affluent CFP Certified Financial Planner OECD Orga
Slide 8: IGM Financial Overview
I Wealth Management Asset Management Financial IGM Financial Overview This way to better QTY
Slide 9: IGM Financial: A compelling wealth and asset management company built for growth
IGM Financial: A compelling wealth and asset management company that is built for growth • A wealth and asset management company that is built for growth • IG Wealth and Mackenzie (the “Core”) are extending their industry leadership positions • Strategic investments in complementary wealth and asset
Slide 10: IGM at a glance
IGM at a glance Consolidated AUM&A 2024 Adjusted EPS by segment1,4 $483.5B incl. strategic investments1 Mutual fund AUM market Top 4 $3.95 Share2 In CANADA Wealth management Clients ~2 Million Employees3 3,600+ 50.9% 2024 Net earnings available $934MM 7 to common shareholders 2024 Adjusted net earni
Slide 11: Strength and scale as part of the Power Corporation group
Strength and scale as part of the Power Corporation group of companies1 Wealth Asset Corp & management management other 2.4% 20.5% 56.0% 2 27.2% 27.8% Access to Investment Investment management Insurance Investment Benefits intellectual management distribution distribution opportunities capital sub-
Slide 12: Acquisitions, divestments and guiding themes
Acquisitions, divestments and guiding themes August 2020 - $243MM1 Investing themes October 2020 $196MM2 1 Investing in diversified growth December 2020 $175MM May 2021 - $295MM 2 Risk smart M&A July 2021 $4.7MM3 December 2022 $40MM 3 Simplification of Power Group January 2023 - $575MM January 2023
Slide 13: Growth in consolidated AUM&A incl. strategic investments
Growth in consolidated AUM&A incl. strategic investments Where we WERE Where we ARE IGM AUM&A1 2018 (Dec 31) 2024 (Dec 31) ($B, IGM proportionate share) $86B $140B n/a $45B $1B $17B 2 $26B n/a 3 $61B $130B $24B $135B n/a $18B Consolidated AUM&A including strategic investments4 ~$200B ~$483B Slide or
Slide 14: A compelling wealth and asset management line up
A compelling wealth and asset management line up Leadership positions in Canadian wealth and asset management; diversified earnings drivers in adjacent markets Wealth management1 (AUA $202B2) Asset management (AUM $366B2) Corporate & other Publicly traded, international Comprehensive personal financ
Slide 15: Advancing IGM Financial's sustainability strategy
Advancing IGM Financial’s sustainability strategy Initiatives we support IGM is recognized by the following agencies and indices 15
Slide 16: Clear medium-term capital allocation priorities
Clear medium-term capital allocation priorities #1 Invest in our Core businesses to position them for long-term success Strong dividend Share buybacks M&A Sustain strong current Offset dilutive effect of stock Focus on investing in the #2 dividend option program wealth and asset management business
Slide 17: 2025 focus
2025 focus Wealth management Asset management 2025 areas Extending our momentum targeting high-net- Focusing on investment excellence & product worth and mass affluent, solving for industry innovation, extending our distribution of focus wealth drivers and leveraging a best-in-class advantage, and e
Slide 18: Performance Summary
IGM Financial Performance Summary 18
Slide 19: Financial market and client investment returns
Financial market and client investment returns IGM client return index1 Investment performance 2022 2023 2024 1.9 IGM client investment return 2 (9.9%) 9.9% 15.5% 1.8 1.7 Equity Markets: 1.6 Canada (S&P/TSX Composite) (5.8%) 11.8% 21.6% 1.5 1.4 U.S. (S&P 500) (18.1%) 26.3% 25.0% 1.3 1.2 1.1 Europe (
Slide 20: Industry operating environment and IG and Mackenzie net flows rates
Industry operating environment and IG and Mackenzie net flows rates Annual industry long-term net sales Long-term net flows rate as at December 31, 2024 ($B) (last twelve month trailing, % of average assets) Mackenzie investment funds 1,2 Mackenzie retail investment funds 2 Total Industry Industry A
Slide 21: Annual net flows
Annual net flows IGM Financial consolidated annual net flows1 ($MM) Wealth management • IG Wealth 2024 Gross inflows of $14.6B; 78% of new 8,701 client gross inflows during 2024 from new $250K+ clients 7,099 • Rockefeller organic and inorganic growth of US$18.5B during 2024 • Wealthsimple grew AUA b
Slide 22: Ending AUM&A including SI proportionate share
Ending AUM&A ($B) including SI proportionate share Consolidated AUM&A incl. SI1 Wealth management Asset management 3 2 2 2 2 483.5 +24% 2023 Sub-advised AUM to Wealth Management: 2024 Q4/24 $83.4B (Q4/23 390.6 $76.8) 213.3 195.7 +16% +9% 140.4 121.2 +43% +35% 118.9 129.9 135.2 +20% +95% 94.8 17.9 44
Slide 23: Adjusted net earnings available to common shareholders by segment
Adjusted net earnings available to common shareholders1 by segment ($MM) Wealth management2 Asset management Corporate & other3 IGM consolidated4 +11% 939.0 843.1 2023 +12% 2024 477.7 428.3 +13% 350.4 310.2 +8% 102.3 110.9 8.5% 1) A non-IFRS financial measure - see Non-IFRS financial measures and ot
Slide 24: Positioned for earnings growth; returning capital to shareholders
Positioned for earnings growth and levered to markets; returning capital to shareholders Maintained solid adjusted EPS through market volatility partly Capital returned to shareholders due to focus on expense management 10-year avg. adj. EPS1 of ~$3.15 (2011-2020) $534MM 4.05 3.95 2024 dividends pai
Slide 25: Returning capital to shareholders with financial flexibility
Returning capital to shareholders with financial flexibility Return of capital to Leverage Balanced approach to capital shareholders (Debt/LTM Adj. EBITDA1) allocation ($MM) Return of capital to shareholders: Dividends Share repurchases • Dividend of $0.5625 per share declared during Q4/24 179.8 • 1
Slide 26: Confidence in achieving our medium-term financial objectives
Investor Day 2023 Confidence in achieving our medium-term financial objectives and creating long-term stakeholder value1 Medium-term financial objective – IGM Financial 5-year EPS growth 7%+ 2 Core businesses 5-year earnings CAGR 9%+ 5-year adjusted EPS CAGR2,3 15%+ 2,3 Strategic Sum-of-the-parts in
Slide 27: Core businesses medium-term financial objectives
Investor Day 2023 Core businesses medium-term financial objectives1 Focusing efforts on what is within our control and AUM&A ~8% growth in AUM&A 1 5% market appreciation assumption based on company asset mix ~3% average net flows rate over market cycle (~2% industry2 + ~1% share gain) 2 Effici
Slide 28: Strategic investments diversify and accelerate earnings growth profile
Investor Day 2023 Strategic investments diversify and accelerate earnings growth profile1 Medium-term objectives & expected benefits Target recruiting of $120M in annual production acquired2 Target organic growth of 6-8%3 Current capacity to scale and create operating leverage 15%+ 5-year earn
Slide 29: IGM Financial: investment highlights
IGM Financial: investment highlights Well-positioned for sustainable earnings growth through leadership positions & strong execution at IG Wealth and Mackenzie Investments Strategic investments in complimentary asset and wealth managers tilt Company toward stronger, diversified AUM&A and earnings gr
Slide 30: Wealth Management
[CO Wealth Management WEALTH ROCKEFELLER ‘ IG Winatement “OCSERELLES Wealthsimple This way to better NE)
Slide 31: Key messages – IG Wealth Management
Key messages – IG Wealth Management Accelerating growth through a clear strategy led by an energized and experienced leadership team Targeting key high net worth and mass affluent segments by aligning our capabilities to industry wealth drivers Utilizing a segmented advice model to align IG’s best-i
Slide 32: A wealth management leader in Canada
A wealth management leader in Canada IG Wealth Management is in a leadership position; our unique model gives us a competitive advantage for growth Inspiring confidence for over 99 years • Long standing, generational relationships with clients • Coast-to-coast, serving communities small and large; 1
Slide 33: IG Wealth Management at a glance
IG Wealth Management at a glance Leading wealth management company in Canada; inspiring financial confidence Key statistics Total AUM&A $140B $6.8 Billion #1 in 9 Dealer Report Total AUM $123B Client Card categories5 Mortgages Clients ~1 Million $106 Billion #1 earned media 1,633 – Industry leader i
Slide 34: IG Wealth Management's leading advisor value proposition
IG Wealth Management’s leading advisor value proposition Investment Executive’s 2024 Dealers’ Report Cards1 Strong position vs. Big 5 bank FSBs Overall Dealer Report Card rating2 Net Promoter Score Peer Avg IG Wealth Rating (out of -100 to +100) 8.8 88 8.6 8.5 8.4 8.0 8.0 8.2 8.3 8.0 8.0 76 67 38 22
Slide 35: IG Wealth Management transformation journey
Investor Day 2023 IG Wealth Management transformation journey Strategic shift to mass affluent and high-net-worth Where we WERE (Jan 1, 2018) Where we ARE (Jan 1, 2023) Where we are GOING (Jan 1, 2028) Competed for Mass and MA segments Serving MA and HNW clients with fee- Target key HNW segments thr
Slide 36: Canadian financial assets projected to grow to $11.2 trillion by 2032
Canadian financial assets projected to grow to $11.2 trillion by 2032 Canadian financial wealth ($T) By generation By wealth band1 11.2 11.2 0.7 Gen Z 2.0 Millennials 3.3 $10MM+ 1.5 $5MM – 10MM 6.2 3.6 Gen X 6.2 0.5 1.8 1.7 4.1 $1MM – 5MM 0.8 3.0 4.6 Baby Boomers 2.2 1.6 $250K – 1MM 1.0 0.9 0.4 Trad
Slide 37: Helping clients navigate industry wealth drivers
Investor Day 2023 Helping clients navigate industry wealth drivers is fuelling our growth Philanthropy and Tax planning and legacy planning optimization Adults 65+ contribute ~45% of charitable donations annually 6 1 8 provinces have combined highest tax rate > 50%2 (~$11B in 2020 from all age group
Slide 38: Clear strategic pillars to enable long-term growth strategy
Investor Day 2023 Clear strategic pillars to enable long-term growth strategy 1 2 3 Driving Elevating Investing best-in-class advice platforms, products and in people and driving experience in a segmented services that resonate with productivity through way HNW digitalization and partnerships Our go
Slide 39: Best-in-class advice experience targeting key HNW segments
Investor Day 2023 Best-in-class advice experience targeting key HNW segments IG regional family office advice model HNW client segments PLANNING SKILLS PLANNING TOOLS 1 | Business owners ~1,650 CFP/Pl. Fin Living Plan Portal Professionals Advisor Portal 2 | Professionals Team based practices
Slide 40: Segmented advice model to scale across the client spectrum
Investor Day 2023 Our segmented advice model will allow us to scale our advice experience across the client spectrum 20181 20232 Benefits ENTREPRENURIAL TEAM ADVICE Create a better experience ENTREPRENURIAL 1 FOCUS = > $250K 1 ADVISORS for our current Mass Market clients with expanded Employee 100
Slide 41: Significant opportunity to gain market share
Investor Day 2023 Significant opportunity to gain market share IG AUA by client wealth band1 ($B) > 90% of assets are Mass Affluent and HNW 2018 2023 2028 EMPLOYEE ENTREPRENEURIAL CHANNEL CHANNEL OPPORTUNITY OPPORTUNITY & DEDICATED ADVICE 33.6 28.6 23.0 19.9 20.1 17.1 16.1 16.9 10.7 8.4 4.5 1.8 <$10
Slide 42: New client assets brought to IG Wealth Management
New client assets brought to IG Wealth Management Gross flows from newly acquired clients (Annual, $MM) Gross flows from newly acquired clients (LTM, $B) By client assets brought to IG Wealth By client assets brought to IG Wealth Growth <$100K $100-250K $250-1,000K >$1,000K 5-year 1-year >$250K <$10
Slide 43: Well-constructed managed solutions for comprehensive financial planning
Well-constructed managed solutions provide advisors with the best opportunity to focus on providing comprehensive financial planning 81% OF LONG-TERM GROSS SALES (2024) | 72% OF LONG-TERM FUND ASSETS IG WEALTH + MANAGED SOLUTIONS FOR PORTFOLIOS UNIQUE PLANNING NEEDS iPROFILE PRIVATE IG CORE IG CLIMA
Slide 44: Leading portfolio construction with public, private and alternative strategies
Leading portfolio construction with investment solutions that include public markets, private markets and alternative strategies Illustration of iProfile Global LIQUID ALTERNATIVES Neutral Balanced Model EXPANDED USE OF PRIVATE CANADIAN PRIVATE CREDIT MARKET PRIVATE EQUITY & REAL ESTATE INVESTMENTS
Slide 45: Investment solutions managed by top global asset managers
Leading investment solutions managed by top global public and private markets asset managers with strong investment performance 71% iProfile managed of assets rated 4 or 5 stars solutions provide by Morningstar1 access to: 95% Well-constructed managed solutions by world-class asset managers PUBLIC E
Slide 46: Opportunity to elevate investment, mortgage and insurance services
Investor Day 2023 Significant opportunity to elevate investment, mortgage and insurance services offerings Investment Mortgage and Insurance Private Company services banking services services Advisory HNW platform expansion Advance digital origination Enhance carrier Comprehensive advisory p
Slide 47: Continued investment in technology, digitalization and partnerships
Investor Day 2023 Continued investment in technology, digitalization and partnerships Driving a better advisor and client experience and fueling future productivity Investing in our client portal to modernize and Exploring additional Fintech accelerators create an interactive, personalized user inte
Slide 48: Strong advisor productivity
Strong advisor productivity Gross inflows per advisor recruit Gross inflows per advisor practice with <4 years experience ($MM) with >4 years experience1 ($MM) Productivity in-focus 2.17 • Scaling our segmented advice model to help provide consistent services to all 0.68 0.69 clients and create capa
Slide 49: Rockefeller Capital Management snapshot
Rockefeller Capital Management snapshot Trusted advisors to HNW/UHNW investors, businesses and institutions navigating the complexities of family and wealth Respected brand with extensive footprint Offices covering 31 markets in major U.S. wealth centres Founded 2018 IGM % economic interest 20.5% Co
Slide 50: Unique competitive advantages
Unique competitive advantages Comprehensive service offering Elite wealth advisors uniquely positioned to serve HNW and UHNW client segments Personalized Holistic family through Rockefeller brand investment advisory office solutions customized Proactive, tax-focused investment wealth strategy servic
Slide 51: Client assets and key performance indicators
Client assets and key performance indicators Client assets (US$B) Key performance indicators 151 Organic growth1 target at annual 122 Organic rate of 6-8%2 (excludes market 97 98 growth appreciation) 67 43 Selectively add advisor teams Inorganic representing ~$120M production 27 growth acquired3 per
Slide 52: IGM + Rockefeller Capital Management strategic benefits
IGM + Rockefeller Capital Management strategic benefits Collaboration Distribution Strategic advisory1 Create knowledge-sharing Two-way flow of world-class Leverage expertise of opportunities between investment solutions from seasoned investment bankers respective organizations Rockefeller Ass
Slide 53: Wealthsimple Snapshot
Wealthsimple Snapshot Key differentiators AUA ($B) Client Count1 (000s) 64.0 2,577 Client Majority of customer base are Millennials 2,228 2,031 1,753 Technology 31.0 Forward-looking innovation drives business growth 18.3 18.4 9.3 597 Brand 4.7 2.5 182 Distinct identity, strong loyalty and 102 awaren
Slide 54: Winning the next generation of clients through product innovation
Winning the next-generation of clients by increasing accessibility through product innovation Focus on product “firsts” Accessibility focus with Next-generation clients that make financial tools an innovation mindset more accessible ~50% of clients say Intuitive accessible user Wealthsimple was
Slide 55: Asset Management
(ES Asset Management f& MACKENZIE — @ chinaame Northleaf Investments This way to better QTY
Slide 56: Key messages – Mackenzie Investments
Key messages – Mackenzie Investments Strong execution to date towards becoming Canada’s preferred global investment management solutions provider and business partner Leveraging foundational qualities that provide competitive advantage within Canadian financial advisor channel and provide avenues to
Slide 57: Mackenzie Investments at a glance
Mackenzie Investments at a glance Key stats Institutional and Retail partnerships Founded 1967 Regions served Total AUM1 $213B Background Investment solutions provider Partnerships with wealth of choice to financial advisors managers >30K financial advisor Sub-advisory and institutional rela
Slide 58: Mackenzie gaining ground in client engagement and market position
Mackenzie Investments is gaining significant ground in client engagement scores and market position Advisor perception study1 – mutual funds Advisor channel overall sales penetration Mackenzie overall results (% of advisors actively selling fund manager’s products) Clear 90 2013 2024 #2 Consistently
Slide 59: Mackenzie Investments' transformation journey
Mackenzie Investments’ transformation journey Assets under management Adj. Earnings before interest and taxes (“EBIT”)3 ($B) ($M) 5-year CAGR: 8.5% 5-year CAGR: GLC 9.2% 210.3 213.3 IG 345.4 344.2 2 195.7 Ex-acquisition 17.0 2019 – Sub-advisory 313.1 185.1 186.6 303.4 relationship with IG Total Weal
Slide 60: Mackenzie Investments' target market is large and growing
Mackenzie Investments’ target market is large and growing Canadian financial wealth ($T) By savings vehicle1 By distribution channel 11.2 6% 11.2 6% Total CAGR Total CAGR 3% 4% 2.7 3.1 Deposits Bank Branches 6% 2.0 Non-Disc. Securities 9% 1.9 6.2 6.2 Online/Discount 9% 7% 1.9 Discretionary 1.4 1.9 2
Slide 61: Mackenzie Investments strategy
Investor Day 2023 Mackenzie Investments strategy Mission Creating a more invested world, together. Foundational Boutique approach and Power Group Brand Fostering Culture qualities breadth of capabilities ecosystem leadership sustainability and talent Strategic Building meaningful Developing presence
Slide 62: Investment excellence through institutional quality processes
Investor Day 2023 Investment excellence through institutional quality processes and capabilities 1 Talent management excellence 2 Institutional quality processes 3 Well-resourced to foster great client outcomes Foster careers of exceptional Clear investment “edge” and Best-in-class investment
Slide 63: Global investment capabilities, diversified across asset classes and geographies
Global investment capabilities, diversified across asset classes and geographies Opportunity to grow client base outside of Canada Total AUM $213.3B >90% of clients are Canadian (by AUM) 150+ investment professionals in Multiple delivery vehicles Multiple support services seven locations around th
Slide 64: World-class investment talent spanning 16 boutiques
World-class investment talent spanning 16 boutiques Lesley Marks Steve Locke Chief Investment Officer, Chief Investment Officer, Fixed Equities Income & Multi-Asset Strategies 1 Asia Nick Scott Konstantin 1 Fixed Income Boehmer Diversity of styles and 2 Betterworld Andrew Simpson 2 Global Quantita
Slide 65: Diversified suite of capabilities across market environments
Mackenzie Investments has a diversified suite of capabilities, ensuring that there is something relevant and compelling for all client needs and across market environments Mackenzie assets by Morningstar Rating1 In Canada, performance peer groups for Morningstar ratings 100% One Star are very broa
Slide 66: Meaningful opportunity to increase strategic partnerships
Meaningful opportunity to increase strategic partnerships SPOTLIGHT: Mackenzie is one of two exclusive providers to >$20B and growing ~$83B strategic partner ~$53B strategic partner wealth manager with ~7,000 advisors and sister company and sister company Launched exclusive Mackenzie FuturePath prod
Slide 67: Spotlight: Global Quantitative Equity boutique
Spotlight: Global Quantitative Equity boutique Background • Boston-based (added in 2017) • ~$13B total AUM “Holistic Quant” approach promotes all-weather performance across cycles and environments • 11-person experienced team • 25 institutional mandates Assets under management ($B) Trailblazing in C
Slide 68: ChinaAMC snapshot
ChinaAMC snapshot Strong, supportive shareholders Founded 1998 IGM % ownership interest 27.8% Tianjin Haipeng Sci-Tech AUM 2.5 T RMB/ $486B1 Investment 27.8% 62.2% 10% Investment professionals 250+ Retail: 210M+ # of investors Institutional: 250K+ Strategic benefits + Enhances Mackenzie’s Enable
Slide 69: Enormous growth opportunities
Investor Day 2023 Enormous growth opportunities Both for China’s mutual fund industry and ChinaAMC Household savings (2022) Investment fund assets Investment fund industry forecasts1 as % of GDP (2022) Compound Annual Growth Rate in AUM 112.2% China Canada 46.2% a household 99.2% 14.2% 14.5% saving
Slide 70: ChinaAMC growth outpacing robust industry expansion
ChinaAMC growth is outpacing robust industry expansion Assets under management1 (RMB billions) Chinese mutual fund industry top 10 long-term 2,465 fund3 provider market share (% at December 31, 2024) 5-year investment • ChinaAMC’s long-term fund market share2 increased to 6.2% from 5.1% at Q4/23, 1,
Slide 71: Northleaf snapshot
Northleaf snapshot Investors choose to work with Northleaf to access private investments in mid- market companies and assets globally Founded 2002 10 GLOBAL OFFICES IGM % economic interest 56% Northleaf offices AUM $32B1 Investment professionals 250 Institutional investors 250+ Private equity Privat
Slide 72: Integrated platform and partnerships drive capital raising growth
An integrated platform and partnerships with leading institutional investors drive capital raising growth Integrated platform focused on mid-market companies Private equity Infrastructure Private credit Value creation in companies globally Direct investments in private infrastructure Direct le
Slide 73: Northleaf's strategic partnership with IGM and GWL
Northleaf’s strategic partnership with IGM and GWL Northleaf’s current growth …enables IGM and GWL to provide institutional global private strategy… markets solutions to wealth management and insurance investors Wealth and asset management Insurance and wealth management Maintain superior investme
Slide 74: Fourth Quarter 2024
IGM Financial Fourth Quarter 2024 74
Slide 75: IGM Financial Q4, 2024 highlights
IGM Financial Q4, 2024 highlights Financial highlights Operational highlights Reported EPS Adjusted EPS1 $1.07 $1.05 (39.2%) vs Q4/23 +22.1% vs Q4/23 • Executing on strategy; second best Q4 adjusted EPS on record • Record quarter ending assets at IG Wealth and Mackenzie o Strong flows improvement ac
Slide 76: Industry operating environment
Industry operating environment Fourth quarter industry long-term mutual fund net sales ($B) Total Industry Industry Asset Manager Peers Industry asset manager peers mutual fund net sales ($B) 16.7 12.5 Categories Q4/23 Q4/24 $ Change 6.5 5.7 4.1 6.8 Balanced (7.4) (0.6) 6.8 2.8 2.4 4.1 7.2 5.8 2.0 0
Slide 77: Adjusted net earnings available to common shareholders by segment
Adjusted net earnings available to common shareholders1 by segment ($MM) Wealth management2 Asset management Corporate & other3 IGM consolidated4 +22% 250.0 Q4/23 204.9 Q4/24 +32% 132.9 100.7 +14% 87.5 +4% 76.8 28.4 29.6 1) A non-IFRS financial measure - see Non-IFRS financial measures and other fin
Slide 78: Ending AUM&A including SI proportionate share
Ending AUM&A ($B) including SI proportionate share Consolidated AUM&A incl. SI1 Wealth management Asset management 3 2 2 2 2 483.5 +24% Q4/23 Sub-advised AUM to Wealth Management: Q4/24 Q4/24 $83.4B (Q4/23 390.6 $76.8) 213.3 195.7 +16% +9% 140.4 +43% 121.2 +35% +95% 129.9 +20% 118.9 135.2 94.8 17.9
Slide 79: Wealth management Q4, 2024 highlights
Wealth management Q4, 2024 highlights Other operational highlights Record quarter ending AUM&A Fourth quarter • Providing clients with leading-edge estate planning, settlement and executor client returns1 services through strategic partnership with ClearEstate $140.4B +15.8% vs Q4/23 2.7% • #1 earne
Slide 80: IG Wealth Management net flows
IG Wealth Management net flows IG Wealth Management gross and net flows1 ($MM) IG Wealth Management net flows2 ($B) Gross Inflows Gross Outflows Net Flows (LTM, as at January 31, 2025) Month of January2 1,349 999 1,166 1,066 1,179 Total Net Flows IGM Product Net Flows Cash, GICs, & HISAs 834 879 739
Slide 81: IG Wealth Management Q4, 2024 operating results
IG Wealth Management Q4, 2024 operating results Gross inflows Gross outflows rate Asset under advisement Q4/24 highlights ($MM) (Quarterly annualized) ($B) Cash, GICs, HISAs ▪ Gross inflows of $3.9B, up 26.8% 3,917 3rd party year-over-year IGM Solutions (AUM) 136.4 140.4 ▪ LTM trailing net flows rat
Slide 82: Strong momentum in mortgage and insurance
Strong momentum in mortgage and insurance Mortgage funding New annualized insurance premiums ($MM) ($MM) 971 74 833 57 2023 2024 2023 2024 • Mortgage funding up 17% year-over-year • New annualized insurance premiums up 31% year-over-year • IG Mortgages serviced at $6.8B as of Dec 31/24 • In-force po
Slide 83: IG Wealth Management – key profitability drivers
IG Wealth Management – key profitability drivers Daily average assets ($B), advisory and product & Key revenue & expenses as bps of program fee rate (bps)1 respective driver (AUA or AUM)1 139.4 132.9 128.1 102.1 100.3 124.0 16.1 98.9 98.4 97.7 15.2 Other AUA 117.1 14.6 14.0 123.3 12.9 117.7 85.5 85.
Slide 84: IG Wealth Management profitability
IG Wealth Management profitability $ Millions (unless otherwise noted): Change QoQ Change YoY IG Wealth Management Q4/23 Q3/24 Q4/24 $ % $ % 1▪ Advisory and product and program fee revenue up 15.7% year-over-year and 4.4% sequentially, driven by Days in the period 92 92 92 Average assets under advis
Slide 85: Asset management Q4, 2024 highlights
Asset management Q4, 2024 highlights Other operational highlights Record quarter • Significant institutional wins totalling ~$4B in AUM expected to fund in Q1/25, representing Fourth quarter multiple geographies and strategies across Global Quant and other boutiques ending AUM&A • Mackenzie’s four N
Slide 86: Mackenzie Investments net sales
Mackenzie Investments net sales Mackenzie adjusted investment fund flows1 ($MM) Mackenzie adjusted investment fund net flows1 ($B) MF Gross Sales MF Redemptions MF Net Sales ETF Net Flows (LTM, as at January 31, 2025) Month of January Total Retail 1,261 8.0 804 994 981 862 698 716 683 664 743 509 12
Slide 87: Mackenzie Q4, 2024 operating results
Mackenzie Q4, 2024 operating results Retail mutual fund gross sales Morningstar star ratings1 Q4/24 highlights ($MM) (% Proportion of Assets) 17 of top 20 rated mutual funds 4/5 star (series F) 1,717 Mackenzie – Dec. 2024 ▪ Retail mutual fund gross Mackenzie – Sep. 2024 Industry – Dec. 2024 49% 48%
Slide 88: Investment boutique retail mutual fund & ETF
Investment boutique retail mutual fund & ETF Fixed Managed Value-oriented Quality Growth-oriented Sustainable Core & dividend Other income solutions North Global Putnam Global equity Multi-asset ChinaAMC & Cundill American Ivy Growth Bluewater Resources Greenchip quantitative Fixed income (sub-advis
Slide 89: Mackenzie – key profitability drivers
Mackenzie – key profitability drivers Average AUM ($B), net asset management fee rate1 (bps) Net asset management fee rates1 (as bps of respective AUM) 213.9 207.5 Sub-advisory and 198.9 201.8 AUM to Wealth 189.3 Management 80.4 79.4 78.7 78.5 78.0 83.9 Third Party AUM 81.8 77.9 79.0 Third-party 75.
Slide 90: Mackenzie profitability
Mackenzie profitability $ Millions (unless otherwise noted): Change QoQ Change YoY Mackenzie Investments Q4/23 Q3/24 Q4/24 $ % $ % Net asset management fees up 11.3% year-over- Days in the period 92 92 92 1▪ Average assets under management ($B) Third Party AUM 114.1 125.7 130.0 4.3 3.4% 15.8 13.9% y
Slide 91: IGM Financial Q4, 2024 financial highlights
IGM Financial Q4, 2024 financial highlights Reported EPS $1.07 • Fourth quarter adjusted EPS1 of $1.05, up 22% year-over-year; second best Q4 on record (39.2%) vs Q4/23 • Strong quarterly result driven by core business performance; adjusted net earnings increased by 33% at IG Wealth and 25% at Macke
Slide 92: IGM Financial consolidated profitability
IGM Financial consolidated profitability $ Millions (unless otherwise noted): Change QoQ Change YoY IGM Financial Consolidated Q4/23 Q3/24 Q4/24 $ % $ % Days in the period 92 92 92 1▪ Higher average AUM&A, up 16.0% year- over-year and 4.1% sequentially, supporting Average AUM & AUA ($ Billions) Weal
Slide 93: Adjusted net earnings by segment and company
Adjusted net earnings available to common shareholders1 by segment and company ($MM) Corporate IGM Wealth management Asset management2 & other3 consolidated3,4 +22% 250.0 Q4/23 Q4/24 204.9 +33% 135.3 101.7 FVTOCI +25% 61.9 49.4 +7% +4% 21.3 22.9 -55% 28.4 29.6 6.9 3.1 0.0 0.1 (2.5) (0.8) 1) A non-IF
Slide 94: Summary: segment breakdown
Summary: segment breakdown Adj. earnings1 by segment Strategic investments – ownership and value Q4/23 Adj. Q4/24 Adj. YoY Ownership Accounting Q4/24 Net Fair value Q4/24 $ millions earnings earnings change Q4/23 | Q4/24 basis carrying value assumption Fair value Wealth management2 IG $101.7 $135.3
Slide 95: Adjusted net earnings and valuation by company
Adjusted net earnings available to common shareholders1 and valuation by company ($MM) Adjusted net earnings available to common shareholders1 1,042 6 2024 939 Analyst 490 534 Consensus2 2025 235 260 10 FVTOCI 102 119 100 104 16 15 6 3 (10) 2025 analyst 4 UNALLOCATED 4 OTHER CAPITAL estimates2 EPS $
Slide 96: Appendix
I Wealth Wealth Management Asset Management Financial Appendix This way to better QTY 18M =
Slide 97: 2025 expense guidance
2025 expense guidance Guidance and outlook1: combined operations & support and business development expenses IGM consolidated2 (year-over-year change) 5-year technology & operations transformation 7% announced 6% 5% 3.8% 4% 3% 4 2.2% 2.3% 3 1.7% 1% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 G
Slide 98: IGM Financial common dividends
IGM Financial common dividends IGM Financial Adjusted Cash Earnings1,2 ($MM) Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 LTM Dividend payout ratio2 (LTM) Adjusted Net Earnings1,2 204.9 224.5 220.4 244.1 250.0 939.0 Add: capitalized sales commission 25.2 25.5 26.1 26.7 27.3 105.5 amortization 72% 71% Less: capital
Slide 99: IGM Financial debt/adj. EBITDA
IGM Financial debt/adj. EBITDA1 Total Debt ($MM) Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Long-term Debt 2,400.0 2,400.0 2,400.0 2,400.0 2,400.0 Total debt 2,400.0 2,400.0 2,400.0 2,400.0 2,400.0 Adj. EBITDA before sales commissions 1 (LTM, $MM) Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Adj. EBIT1 1,225.9 1,255.4 1,264.2
IGM Financial — Investor Presentation (February 2025) on 6ix