Knowledge First Financial Established as Canada's largest RESP Company
Unprecedented number of Canadian students heading to post-secondary education thanks to the company's registered education savings plans
MISSISSAUGA, ON (August 31, 2018) – Knowledge First Financial has completed the amalgamation of Heritage Education Funds by combining the companies together, becoming Canada's largest RESP Company with assets under management of $6.4 billion. The combined company will be known as Knowledge First Financial. Knowledge First is owned by a not-for-profit Foundation which allows it to consistently reinvest in students through annual scholarships and enhanced payouts.
More than 60,000 students will be attending Canadian universities and colleges this year with the financial support of their Knowledge First or Heritage RESP. Both companies bring more than 50 years of helping Canadians save for post-secondary education. Many of these students were the first recipients of the Canada Education Savings Grant (CESG) which was introduced in 1998 and is marking its 20th year of the program.
Knowledge First has consolidated its head office in Mississauga, Ontario and all Heritage sales representatives will now work with the management of Knowledge First. The combined 1,400 Knowledge First sales representatives in Canada will offer Flex First, an individual RESP that is as flexible as any RESP product in the market. Overwhelmingly for new Knowledge First customers, it is the product of choice.
"We now have a unique leadership position in the RESP industry to continue to help families maximize education savings and contribute to student success," says George Hopkinson, President and CEO, Knowledge First Financial. "Our RESP specialists work with our customers to recommend and provide an education savings plan that works best for them."
Since 1965, the Foundation has provided students with nearly $50 million in discretionary top-up payments and has awarded more than $1.5 million in graduate scholarships. This August, ten students were awarded Graduate Scholarship Awards with a total value of $120,000. The ten winners demonstrated an exceptional ability to balance outstanding academics while being immersed in their communities through volunteering, research, athletics or paid work.
About Knowledge First Financial
Canadian families have relied on education savings plans offered by Knowledge First Financial for more than 50 years. Since 1965, payments from the plans have reached $6.6 billion and the Knowledge First Foundation has further enhanced Education Assistance Payments to students by over $50 million. Today, the company manages $6.4 billion in assets for more than 500,000 RESPs.
Knowledge First Financial Inc. is a wholly-owned subsidiary of the Foundation and is the investment fund manager, administrator and distributor of Registered Education Savings Plans. Knowledge First Foundation is a not-for-profit Canadian corporation with no share capital. The Foundation is therefore able to reinvest excess revenues in initiatives that support student success.
For more information
VP, Communications and Public Relations
Knowledge First Financial Inc.
905 270-8777, ext. 4247
Heritage Education Funds is a division of Knowledge First Financial Inc. Knowledge First Financial Inc. is a wholly owned subsidiary of the Knowledge First Foundation and is the investment fund manager, administrator and distributor of the education savings plans offered by Knowledge First Foundation and Heritage Educational Foundation. For more information about our education savings plans, please visit knowledgefirstfinancial.ca or refer to our prospectus.