Canadian Underwriter

Top 4 commercial broker acquires retirement and planning firm

March 17, 2022   by Canadian Underwriter Staff

Compass points to retirement.

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Navacord expanded its group benefits and retirement solution business earlier this month when it acquired B.C.-based Arbutus Financial Services.

Arbutus has offices in Vancouver and Nanaimo, and provides group benefits and retirement consulting, as well as personal financial services including financial planning, wealth management and life insurance. The firm has expertise within the mining, gaming technology, software and film industries.

“As our national benefits, pension and retirement practice continues to grow, it’s exciting to see our value proposition resonate with industry leaders like Arbutus Financial,” said Navacord president and CEO Shawn DeSantis. “We are eager to help them grow and thrive in British Columbia and beyond.”

Arbutus applies what it calls a PACT (Professional, Accountable, Committed, Thorough) promise to its group and personal retirement and financial planning clients.

“The national reach and core values of Navacord will help to propel us into the future with strength and confidence. Joining them is the next natural step in elevating our business,” said Arbutus Financial president Neil Menzies.

In a related announcement, Navacord said its broker partner, Allwest Insurance Services, added the team at Surrey Insurance to its roster on Mar. 1. Allwest provides coverage for auto, home, business and recreational-vehicle customers and specializes in new car insurance.

Surrey Insurance has an extensive auto insurance department and also sells life, travel and home insurance across the B.C. lower mainland. The Surrey Insurance team will now operate under the Allwest Insurance brand.

“As another locally based team, and one of our neighbours, they understand the unique needs of B.C. clients and share our central values,” said Allwest chief operation officer James Beaulieu.

Feature photo courtesy of