IGM Financial (IGM) Q3 2026 earnings summary

Executive summary

• Adjusted EPS rose 18.9% to a record $1.51; adjusted net earnings increased 16.6% to $351.1 million.

• AUM and advisement reached $381.7 billion, up 26.1% YoY, with $3.4 billion in net inflows.

• Consolidated AUM & A including strategic investments reached $645.6 billion, up 14.8% YoY.

• Momentum spanned wealth management, strategic investments and Mackenzie retail and institutional sales; priorities included capital returns, simplification and AI.

Financial highlights

• Reported net earnings rose 63.5% to $487.5 million; reported diluted EPS was $2.10, including a $144.0 million after-tax Northleaf step-acquisition gain.

• IG Wealth adjusted net earnings rose 27.4% to $197.9 million; Mackenzie adjusted net earnings increased 8.4% to $73.9 million.

• Wealth Management adjusted earnings increased 30.1% to $205.8 million, while Asset Management adjusted earnings declined 1.8% to $108.6 million.

• Adjusted EBIT increased 17.7% to $495.6 million; revenue was $1,144.0 million, up 17.3% YoY.

Outlook and guidance

• FY2026 combined operations, support and business development expense growth guidance remains 4%, excluding restructuring and Northleaf consolidation.

• Simplification actions are expected to generate ~$15 million in 2026 savings for reinvestment in capabilities; milestones remain on track.

• IG Wealth expects a slight Q4 advisory fee-rate decline as cash moves into long-term solutions, with reversal expected in Q1 2027; Q4 asset-based compensation rate is expected to rise modestly.

• Mackenzie reported an awarded institutional mandate pipeline of ~$5 billion, expected to fund in coming months, and a strong, high-probability pipeline entering 2027.