Québec-based provider of group scholarship plans brings 47 years of expertise to national group
Toronto, ON — The RESP Dealers Association of Canada (“RESPDAC”) has announced that Universitas Management Inc. (“Universitas”), a large provider of group and individual registered education savings plans, has decided to rejoin the association after eight years as a non-member. Their membership will become effective on July 1st, 2011.
“The current three members of RESPDAC are genuinely delighted that Universitas is coming back into the association,” said Peter Lewis, Chair of RESPDAC. “We have a very high regard for their integrity and reputation, and their unique position in the group education savings plan industry.
“We look forward to working together with Universitas to further promote the concept and benefits of saving for post-secondary education with governments, regulators, stakeholders in the education sector and above all, Canadian families.”
Universitas was one of the founding members of RESPDAC in 2000. However, as the objectives of Universitas were different from those of the other members at the time, the company decided to leave the association in 2002.
“Even after leaving the group, we have had very cordial relations with the members of RESPDAC,” said Richard Garneau, Chief Executive Officer of Universitas. “Now, having firmly established our business in Quebec and New-Brunswick, we are planning to expand into Ontario, and will be dealing with more than just the governments and regulatory agencies of Québec and New Brunswick. Working together on government relations and advocacy with RESPDAC makes good business sense.”
With the addition of Universitas, the RESP Dealers Association now includes four of the leading providers of group education savings plans. As opposed to individual plans (which are offered by banks, insurance and mutual fund companies – as well as RESPDAC members), group plans are exclusive to six providers in Canada. These plans are particularly popular with Canadian families who prefer to deposit their funds on a set schedule, and have them invested in secure investment vehicles such as government bonds, treasury bills and guaranteed income certificates.
Universitas Management Inc. will bring the total volume of assets under management represented by RESPDAC members, to nearly $8 billion. This amount accounts for approximately one-third of the total amount of Canadian families’ savings in registered education savings plans, across the country.
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For more information:
James Deeks
Executive Director
RESP Dealers Association of Canada
416-689-8421
jdeeks@respdac.com
Isabelle Grenier
Vice President, Corporate Affairs
Gestion Universitas inc.
418.651.8977 Ext. 2244
Toll-free: 1.888.651.8975 Ext. 2244