The change of control of Solium Financial has received approval from the Alberta and Ontario District Council of the Investment Industry Regulatory Organization of Canada.
The acquisition of Solium Financial has been given the final nod by the Investment Industry Regulatory Organization of Canada (IIROC). The venture is a provider of software-as-a-service (SaaS) for equity administration, generation of financial reports and compliance. The acquisition was made by the highly-respected Morgan Stanley. Many investors are thrilled by the move, one that is considered as a big plus.
An announcement on the regulator’s online platform stated that the Alberta and Ontario District Council of the Investment Industry Regulatory Organization of Canada had given the approval for the change of control of Solium Financial Inc. Now, Morgan Stanley, an indirect holding company of Morgan Stanley Canada Limited, will have an indirect power of acquisition over all of the issued and outstanding voting securities of Solium Financial.
The notice also put the date that the transaction came into effect to be 1st of May 2019. Owing to the transaction, Morgan Stanley Canada and Solium Financial are now much closer in terms of the relationship.
Planning for the Future
Upon announcement of the finalizing of the acquisition, Morgan Stanley stated that the Solium enterprise would be renamed Shareworks by its new owner. This is going to be part and parcel of a fresh Morgan Stanley at Work section of financial solutions, and it will also include Retirement and Financial Wellness. Morgan Stanley at Work will be a blend of risk management software applications, sophisticated forms of planning, Morgan Stanley intellectual capital and a sound level of financial knowledge. All these will then be launched via different platforms so that the workers can construct a comprehensive to ensure the goals are met.
When viewed on the combination basis, Shareworks by Morgan Stanley is focused on serving over 3,300 stock plan customers with 2.5 million participants. These include well-known brands like Instacart, Levi Strauss, Stripe and Shopify. There is also an array of other fast-growing private enterprises alongside recent public businesses and about 25% of the Fortune 500 companies. It is surely a very impressive collection.
The acquisition of companies by others remains one of the most classic ways by which businesses keep expanding, and this high-profile acquisition should not come as a surprise. Morgan Stanley is determined to make a mark and do all that is needed to impress its vast base of clients. A well-known brand like Morgan Stanley will not be taking any chances as far as delivering first-class services to the customers is concerned.
Excellence and integrity are the main pillars of success for any business, and the same thing applies here to both Solium and Morgan Stanley. The future is definitely exciting as Morgan Stanley will be rolling out new products and features. All these new developments will be geared towards meeting the needs and demands of the customers only. What that means is that the clients of these organizations should get ready for an exciting time ahead.