Investment Planning Counsel Inc. Reports October 2009 Mutual Fund Sales and Assets Under Management

• Press Release
• Source: Investment Planning Counsel Inc.
• On 5:41 pm EST, Monday November 2, 2009

TORONTO, ONTARIO--(Marketwire - 11/02/09) - Counsel Portfolio Services Inc. (formerly named Counsel Group of Funds Inc.), a division of Investment Planning Counsel, Inc., today reported preliminary mutual fund sales and assets under management for the month ending October 31, 2009. Mutual fund assets under management were $2.01 billion at October 31, 2009 compared with $1.78 billion at October 31, 2008 and $1.74 billion at December 31, 2008.

�

----------------------------------------------------------------------------
Mutual Fund Sales - Month             October 2009             October 2008
----------------------------------------------------------------------------
$ millions (unaudited)      Sales     Redemptions   Net New         Net New
                                                   Money (i)       Money (i)
----------------------------------------------------------------------------
Long Term                    33.8            19.6      14.2           (11.7)
Money Market                  4.0             2.0       2.0            (2.1)
                            ------------------------------------------------
Total                        37.8            21.6      16.2           (13.8)
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Mutual Fund Sales - YTD               October 2009             October 2008
----------------------------------------------------------------------------
$ millions (unaudited)      Sales     Redemptions   Net New         Net New
                                                   Money (i)       Money (i)
----------------------------------------------------------------------------
Long Term                   210.8           168.3      42.5           (73.6)
Money Market                 50.5            24.7      25.8            12.9
                            ------------------------------------------------
Total                       261.3           193.0      68.3           (60.7)
----------------------------------------------------------------------------

(i) Net New Money is defined as Sales less Redemptions and is consistent
    with the terminology used by The Investment Funds Institute of Canada
    (IFIC).

For additional information about Counsel Portfolio Services Inc.'s average assets under management, please see the IGM Financial press release which will be available on November 3, 2009. Additional information about Counsel's mutual fund assets and fund flows will be available on the Investment Funds Institute of Canada (IFIC) web site (www.ific.ca) on approximately the 15th of each month as part of a Canadian industry-wide release of monthly statistics.

Investment Planning Counsel is an integrated wealth management company focused on providing Canadians with financial products, services and advice to help them achieve their financial dreams. Investment Planning Counsel has developed a strategy that marries the needs of the planners with that of the company. Investment Planning Counsel's intent is to be the premier choice among financial planners who are dedicated to serving the needs of their clients. Investment Planning Counsel is a member of the IGM Financial Inc. (TSX:IGM - News) group of companies.

 
Contacts:
Investment Planning Counsel
Steve Meehan
Chief Executive Officer
(905) 212-9799
(905) 212-9675 (FAX)
smeehan@ipcfn.com