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IG Wealth Management Launches IG Empower Your Tomorrow Indigenous Commitment: A $5 Million Program t
10 December 2020
Five-year program includes new financial literacy partnership with Prosper Canada
WINNIPEG, MB and TORONTO, Dec. 10, 2020 /CNW/ - Today, IG Wealth Management ("IG") announced the launch of the IG Empower Your Tomorrow Indigenous Commitment, which dedicates $5 million over the next five years to support programs and initiatives to further the financial confidence of Indigenous communities in Canada.
IG has provided significant support to Indigenous Peoples through various local and national community initiatives for years, including scholarships and employment skills training, and partnering with and/or funding community groups and not-for-profits. The IG Empower Your Tomorrow Indigenous Commitment brings these various pieces together into a national strategy. The centerpiece of the campaign is a new partnership with Prosper Canada to build the financial confidence of Indigenous Peoples in isolated, rural communities.
"We want to provide all Canadians with the education and resources they need to feel confident about their futures," said Damon Murchison, President & CEO, IG Wealth Management. "Indigenous Peoples are particularly underserved when it comes to accessible and culturally appropriate financial help services. We believe this new commitment and the resulting partnerships with Indigenous communities will help build greater financial confidence for their members."
Mr. Murchison noted that many Indigenous communities have found it challenging to navigate the financial impacts of the COVID-19 pandemic. According to the latest edition of the IG Financial Confidence Index, which reports on Canadians' overall financial confidence, Indigenous Peoples scored nine points below the national average.
New Partnership with Prosper Canada
As part of the IG Empower Your Tomorrow Indigenous Commitment, IG will partner with Prosper Canada to launch a new program for Indigenous Peoples. Prosper Canada is a national charity that works with partners across all sectors to develop policies, programs and resources that transform lives and foster the prosperity of all Canadians.
IG and Prosper Canada will leverage the capacity and expertise of leading regional financial empowerment organizations, SEED Winnipeg and Community Financial Counselling Services in Manitoba and Sudbury Community Service Centre in Ontario, as well as national Indigenous partner, AFOA Canada. The new program will begin with pilot projects in two Manitoba and two Ontario First Nation communities, which will be identified in early 2021.
"We're delighted to be working with IG and non-profit and Indigenous partners to help build financial wellness in First Nation communities," said Elizabeth Mulholland, Chief Executive Officer, Prosper Canada. "This program will support participating communities to undertake practical, relevant approaches to build the financial confidence of individuals, families and the community overall. This includes help with tax filing and navigating government benefits, as well as help setting and achieving financial goals, such as paying down debt and building savings for the short- and longer-term."
The new Indigenous Commitment is part of IG Wealth Management's community program, IG Empower Your Tomorrow, launched in 2018. The initiative is dedicated to building the financial confidence of Canadians, with a focus on Indigenous Peoples, newcomers, seniors and youth. Working with community partners and charities, along with employees and clients, IG Wealth Management develops and executes seminars and workshops focused on increasing the financial confidence of these key groups, including the award-winning Money & Youth program which has been helping high school students, teachers and parents with financial literacy for over 20 years.
IG Empower Your Tomorrow
to learn more about the various initiatives IG Wealth Management currently supports.
About IG Wealth Management
Founded in 1926, IG Wealth Management is a national leader in delivering personalized financial solutions to Canadians through a network of Consultants located across Canada. In addition to an exclusive family of mutual funds and other investment vehicles, IG offers a wide range of other financial services. IG Wealth Management has over $101 billion in assets under management as of November 30, 2020 and is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's leading diversified wealth and asset management companies with approximately $205 billion in total assets under management as of November 30, 2020.