Home Breadcrumb caret Industry News Breadcrumb caret Industry iA Financial sees strong profit growth in Q1 The firm saw record gross sales of seg funds and mutual funds in the quarter By Staff | May 6, 2021 | Last updated on May 6, 2021 1 min read Profits surged for Quebec City-based iA Financial Corp. in the first quarter. On Thursday, the firm reported net income attributable to common shareholders of $172.9 million for the quarter ended March 31 — up 342% from the $39.1 million reported a year earlier, when the onset of Covid-19 wreaked havoc across the financial sector. Sales were up 29% year over year in iA’s individual insurance line, and the firm’s wealth management division saw record sales of mutual funds and segregated funds. Gross seg fund sales reached $1,377 million (up 58% year over year) and gross mutual fund sales reached $941.8 million (up 36% year over year), according to a release. iA reported total assets under management and administration of $201.3 billion at the end of Q1, up from $175.7 billion a year earlier. Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo