Industrial Alliance Securities
Industrial Alliance Securities Inc., now iA Private Wealth Inc., is the Canadian investment dealer of iA Financial Group; its capital markets division, iA Capital Markets, provides underwriting, M&A advice, trading and equity research from Montreal, Toronto and Calgary.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 13312M
- Actions
- 20312M
- Ratings / Price targets
- 1 / 202
- Buy-rated
- 0%of 1 rated
- Median upside
- +29.9%
- Targets raised / lowered
- 56 / 45
- On record
- Feb 2014 – Sep 2026
Overview
A proven wealth management philosophy is one that takes emotion out of the equation and relies on a disciplined, long-term approach.
iA Capital Markets publishes equity research on Canadian companies alongside its underwriting, advisory and trading businesses. Some ratings aggregators incorrectly attribute analysts from the unrelated U.S. broker A.G.P./Alliance Global Partners to Industrial Alliance Securities. iA Capital Markets says it combines tailored investment banking services with the reach and stability of iA Financial Group. As of 2026, it distributes equity offerings through the firm's more than 700 advisors.
Industrial Alliance entered securities brokerage in 2002 by buying ISL-Lafferty Securities, renamed Industrial Alliance Securities, and the brokerage businesses of BNP (Canada) Securities and Leduc & Associates. Its October 2013 purchase of Jovian Capital added MGI Securities, amalgamated into the firm in April 2014; the firm later operated as iA Securities. In January 2021 the wealth business was rebranded iA Private Wealth and the capital markets division iA Capital Markets.
Milestones
- 2002
Industrial Alliance Securities formed via ISL-Lafferty acquisition
- 2013
Industrial Alliance acquires Jovian Capital, owner of MGI Securities
- 2014
MGI Securities amalgamated into Industrial Alliance Securities
- 2021
Capital markets division rebranded iA Capital Markets
Firm facts
- Legal name
- iA Private Wealth Inc.
- Type
- Full-service
- Founded
- 2002
- Headquarters
- Montreal, Canada
- Parent
- iA Financial Group
- Listing
- TSX: IAG
- Senior Managing Director, Head of Capital Markets
- Yanick Brochu
- Rating scale
- Strong BuyBuySpeculative BuyHoldSell12 months
- Also filed as
- Industrial Alliance
- Website
- iacapitalmarkets.ca
Research philosophy
iA Private Wealth, the wealth management business associated with iA Capital Markets, emphasizes comprehensive planning supported by unbiased advice, collaboration and transparency. It says each plan should reflect the client's objectives, risk tolerance, return expectations and investment horizon.
Rating methodology
Its published rating scale is Strong Buy, Buy, Speculative Buy, Hold and Sell, each defined by expected return over the next 12 months.
Coverage12M
Sectors
Most covered24M
Most active analysts
- Brian Kinstlinger18 notesLVOOSSSUIG
- Gaurav Mehta11 notesSPMCCTOCLDT
- Scott Henry7 notesLPCNMEDXFICCM
- Mark Delaney6 notesAPHAPTVGM
- Jake Sekelsky4 notesATCXIPXTE
- James Molloy4 notesSLSADILINTS
Recent actions
| Date | Stock | Rating action | Target | Analyst |
|---|---|---|---|---|
| Sep 18 | OPOpendoor Technologies Inc.OPEN | Target | $8 →$5 | Gaurav Mehta |
| Sep 16 | MDMediWound Ltd.MDWD | Target | $22 →$27 | |
| Sep 16 | AKAkari Therapeutics, PlcAKTX | Target | $19.50 | Matthew Venezia |
| Sep 8 |  Pearl Diver Credit Company Inc.PDCC | Target | $12 →$10.50 | Gaurav Mehta |
| Sep 2 |  CNH Industrial N.V.CNH | Target | $10.50 →$18 | |
| Sep 1 |  Strategy IncMSTR | Target | $217 | |
| Aug 31 | GTGates Industrial Corporation plcGTES | Target | $35 →$29 | |
| Aug 31 | PCPG&E CorporationPCG | Target | $21 | |
| Aug 27 | OOOoma, Inc.OOMA | Target | $24 →$27 | |
| Aug 25 |  Methode Electronics, Inc.MEI | Target | $30 | |
| Aug 25 | EPEvolution Petroleum CorporationEPM | Target | $6 | |
| Aug 24 | NDNordson CorporationNDSN | Target | $375 |