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Investors Group taking applications for TFSAs

Winnipeg, MB – October 10, 2008: Canadians don’t have to “wait until next year” to open a new Tax-Free Savings Account (TFSA) with Investors Group. Beginning immediately, Investors Group clients will be able to set up Tax-Free Savings Accounts with contributions to the account starting on January 2nd.

“The growth of a TFSA contribution accumulates on a tax-free basis and withdrawals from the TFSA are also tax-free,” said John Wiltshire, Senior Vice-President Product and Financial Planning at Investors Group. “Any time lost in getting the investment into the TFSA is actually the loss of potential growth.”

A variety of investments will be eligible for investment in a Tax-Free Savings Account at Investors Group including:

  1. Mutual funds
  2. Money market funds
  3. Guaranteed Investment Certificates (GICs) and Term Certain Annuities (TCAs)
  4. Investors Group iProfile portfolios.

Investors Group will offer Tax-Free Savings Accounts on both an individual and group basis.

The Tax-Free Savings Account is also valuable as a highly flexible addition to a personal financial plan according to Debbie Ammeter, Vice-President of Advanced Financial Planning at Investors Group.

“The TFSA provides Canadians with a method of saving for everything from retirement and their childrens’ education to a rainy day fund for short-term needs,” Ammeter said. “With the ability to save for your goals and withdraw from the TFSA on a tax-free basis – the TFSA makes a very useful addition to every Canadian’s financial plan.”

Investors Group, founded in 1926, is a national leader in delivering personalized financial solutions to Canadians through a network of approximately 4,400 Consultants located throughout Canada. In addition to an exclusive family of mutual funds and other investment vehicles, Investors Group offers a wide range of insurance, securities, mortgage and other financial services. Investors Group is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada’s premier financial services companies with over $118 billion in total assets under management as of September 30, 2008.

Media Contact:
Ron Arnst
Media Relations
(204) 956-3364
ron.arnst@investorsgroup.com