Cymbria announces success in EdgePoint Wealth Management
Cymbria Corp. (Cymbria) is pleased to announce the following information about its investment in EdgePoint Wealth Management Inc. (EdgePoint):
EdgePoint launched four portfolios on November 17th, 2008.
Since launching its portfolios, EdgePoint, in its estimation, has signed dealership agreements with approximately 90% of the financial advisors in Canada to distribute its portfolios. EdgePoint appreciates the interest from its new distribution partners.
Since launching its portfolios 7 weeks ago and while its dealership agreements were being secured, the number of advisors that partnered with EdgePoint grew to 101 by December 31, 2008. The average investment in EdgePoint Portfolios across these partnerships was approximately $420,000 per advisor. EdgePoint appreciates the trust and confidence these advisors have placed in the company.
In an effort to provide investors with details about its investment in EdgePoint, Cymbria will disclose what it believes to be pertinent information about its investment in EdgePoint on a quarterly basis. The next update will be provided following the end of the first quarter of 2009.