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![\"IG](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/07\/4436333_web1_BJ-20260729IGWealthManagementbuildingPortageAvenue04.jpg\")
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IG Wealth Management is relocating its headquarters from 447 Portage Ave. (above) to 360 Main St. and putting its Portage Avenue building up for sale. (Brook Jones \/ Free Press)<\/p>\n
Roughly 1,100 employees will make the transition, according to Nancy McCuaig, executive vice-president of IGM Financial, IG Wealth Management\u2019s parent company.<\/p>\n
\u201cWe\u2019re just starting the floor-planning process as we speak,\u201d McCuaig said Wednesday.<\/p>\n
IG Wealth Management is renovating six floors in 360 Main St., a 30-storey tower housing law and accounting firms.<\/p>\n
It\u2019ll also lease a conference and event space at neighbouring tower 300 Main St., which holds apartments and an Earls restaurant.<\/p>\n
IGM estimates it\u2019ll take two years to redesign the downtown space, hence the delayed move, McCuaig said.<\/p>\n
Meantime, the 19-storey Portage Avenue structure could be listed this fall. A price is being determined, McCuaig said.<\/p>\n
\u201cWe\u2019ll sell the building for the best price and the best outcome,\u201d she added.<\/p>\n
The building \u2014 called One Canada Centre \u2014 was built for Investors Group in 1987. The construction price tag was $37.8 million, according to the Winnipeg Architecture Foundation.<\/p>\n
The building\u2019s city-assessed value is now $55.2 million.<\/p>\n
It\u2019s the only facility IG Wealth Management owns, McCuaig noted.<\/p>\n
\u201cThis is\u2026 about creating the kind of space that we really need now.\u201d<\/p>\n
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\u201cBuilding ownership is not really a core competency (of ours),\u201d she said. \u201cWhere we want to differentiate and excel as an organization, it\u2019s servicing our clients.\u201d<\/p>\n
IG Wealth Management has approximately one million clients and, as of June 30, some $176 billion in assets under advisement.<\/p>\n
Its leadership has been considering a move for years. The time felt right, McCuaig said: space became available in Winnipeg\u2019s \u201cfinancial district,\u201d and IG Wealth Management is marking its 100th anniversary.<\/p>\n
\u201cIt\u2019s a great signal to the next period of our growth,\u201d she said.<\/p>\n
IG Wealth Management made headlines last month for announcing a restructuring as it increases artificial intelligence use. A second-quarter $95-million charge on its books includes severance payments.<\/p>\n
The restructuring and the move are not related, McCuaig said.<\/p>\n
She\u2019s anticipating renovations on Main Street to be financially \u201csubstantial,\u201d costing multimillions of dollars. A final cost hasn\u2019t been set because of the ongoing design process, she said.<\/p>\n
IG Wealth Management is downsizing its real estate footprint. Its workers are hybrid (a mix of in-office and remote work); the company doesn\u2019t need all its current space, McCuaig said.<\/p>\n
\u201cThis is \u2026 about creating the kind of space that we really need now,\u201d McCuaig said, adding the Main Street locale will include more collaboration zones.<\/p>\n
\u201cWe wanted to absolutely make sure that this was good for our employees (and) reflected our continued commitment to Winnipeg and Winnipeg\u2019s downtown.\u201d<\/p>\n
\u201cBuilding ownership is not really a core competency\u2026 Where we want to differentiate and excel as an organization, it\u2019s servicing our clients.\u201d<\/p>\n
Four of the six floors IG Wealth Management will occupy were vacant, while the latter two had been used by a law firm, according to an IGM spokesperson.<\/p>\n
RFA Asset Management is the property manager of 360 Main St.<\/p>\n
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Artis Real Estate Investment Trust, the tower\u2019s former owner, merged with RFA Capital Inc. in February to make RFA Financial. RFA Asset Management is a branch of the new company.<\/p>\n
Relocation decisions such as IG Wealth Management\u2019s are made \u201ccarefully and with a long-term perspective,\u201d Kim Riley, president of RFA Asset Management, wrote in a statement.<\/p>\n
\u201cThe significance of this lease extends beyond the building itself. Bringing hundreds of employees to the heart of the city will drive activity for nearby retailers, restaurants, and businesses,\u201d Riley said.<\/p>\n
Employees from Mackenzie Investments, an IG Wealth Management sister company, will be part of the move.<\/p>\n
gabrielle.piche@winnipegfreepress.com<\/p>\n
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Gabrielle Pich\u00e9 Gabrielle Pich\u00e9 reports on business for the Free Press. She interned at the Free Press and worked for its sister outlet, Canstar Community News, before entering the business beat in 2021. Read more about Gabrielle<\/a>.<\/p>\n Every piece of reporting Gabrielle produces is reviewed by an editing team before it is posted online or published in print \u2014 part of the Free Press\u2018s tradition, since 1872, of producing reliable independent journalism. Read more about Free Press\u2019s history and mandate<\/a>, and learn how our newsroom operates<\/a>.<\/p>\n
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