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Investment Planning Counsel Inc. Acquires Faiz & Associates Inc.

TORONTO, July 12 /CNW/ - Investment Planning Counsel Inc. has entered
into an asset purchase agreement with Faiz & Associates Inc., a mutual fund
dealership based in Toronto, Ontario. The agreement transfers Faiz and
Associates' approximately $100 million in mutual fund assets under management
to IPC Investment Corporation, a subsidiary of Investment Planning Counsel
Inc. In addition, Faiz and Associates' licensed financial advisors have joined Investment Planning Counsel Inc.

"Our agreement with Faiz & Associates supports Investment Planning
Counsel's strategy of attracting the industry's top advisors who offer highly
innovative products and services and build strong connections with our
clients," said Chris Reynolds, president, Investment Planning Counsel. "This
demonstrates that Investment Planning Counsel remains a top choice for
independent financial professionals who seek exceptional service and support
in building their practices."

"Joining the Investment Planning Counsel family will improve our
efficiency and bolster our commitment to servicing our clients' needs," said
Mark Faiz, president, Faiz and Associates. "We were impressed with the
professionals at Investment Planning Counsel and their business model. We
expect the relationship will blossom in the weeks and months ahead."

Terms of the transaction are not being disclosed.

Investment Planning Counsel Inc. is an integrated wealth management
company focused on providing Canadians with the best in financial products,
services and advice to help them achieve their financial dreams. A premier
choice among financial planners dedicated to serving the needs of their
clients, Investment Planning Counsel is a member of the IGM Financial Inc.
group of companies (TSX: IGM).

For further information: Matt Cram, Environics Communications,
P: (416) 969-2726, E: mcram@environicspr.com

Disclaimer: The information contained herein is for AB, BC, MB, NB, NS, NL, ON, PEI, QC and SK residents only and does not constitute an offer to sell or solicit sales in any other Canadian or foreign jurisdictions.