IG Wealth and Mackenzie taking $95-million restructuring charge to retool for AI era

IGM Financial Inc. is undertaking a $95-million restructuring charge to streamline operations and reduce costs, with anticipated annual savings of $70 million by 2028. These savings are intended to fund investments in artificial intelligence tools, aiming to enhance efficiency and client service. The restructuring occurs as IGM's core businesses, IG Wealth Management and Mackenzie Investments, adapt to evolving market demands and technological advancements.

• •IGM Financial taking $95-million restructuring charge.
• •Annual savings of $70 million expected by 2028.
• •Investment in AI tools is a key component of the plan.