Axis Insurance Deepens Wealth Offerings in Major Ontario Acquisition

ONTARIO – January 27, 2026

Axis Insurance has significantly amplified its national growth strategy with the acquisition of Ontario-based Edgewater Financial Group and Kearns Edgewater Financial Services, alongside the Group Benefits portfolio from Kearns Insurance Corporation. The move, which unites several well-established firms, fortifies Axis's position in the competitive Canadian insurance landscape and signals a major push into the specialized sectors of life insurance, employee benefits, and wealth solutions.

As part of the strategic integration, two key leaders from the acquired entities will join the Axis executive team. Scott Beckett has been appointed National Senior Vice President, Life, Benefits & Wealth, and John Stoneman will serve as Vice President in the same division. These appointments underscore Axis's commitment to leveraging the deep expertise of the incoming teams to steer its expanded services.

According to the announcement, the partnerships are built on a shared commitment to "integrity, client-focused advice, and the delivery of exceptional insurance, benefits, and wealth solutions." The integration aims to enhance the firm's national presence while preserving the relationship-centric service model that clients of all involved entities have relied upon for years.

A Strategic Play in a Consolidating Market

The acquisitions arrive amidst a period of significant consolidation within Canada's insurance and financial advisory industry. Large national brokerages and bank-owned players are increasingly competing for market share, prompting independent firms like Axis to grow strategically through mergers, acquisitions, and specialization. This latest move is a clear continuation of Axis's proven growth model, which combines targeted acquisitions with organic expansion.

This strategy was previously demonstrated with the 2024 acquisition of the O'Neill Group, a Vancouver firm that expanded Axis's capabilities in executive and group benefits. The current acquisitions of the Ontario-based firms represent a substantial deepening of that strategy, creating a more robust national platform for life, benefits, and wealth advisory services. By integrating these established firms, Axis not only expands its geographical footprint but also enhances its competitive advantage through specialized expertise and a larger talent pool, which now exceeds 400 professionals across 16 specialized practice groups.

Industry observers note that such moves are essential for independent brokerages to thrive. By leveraging specialized practice groups and advice-led cross-selling opportunities across commercial, personal, and wealth management lines, firms like Axis can offer the comprehensive, technology-enabled services needed to compete effectively and meet evolving client demands for holistic financial solutions.

New Leadership to Steer Expanded Division

Central to the success of this integration is the appointment of Scott Beckett and John Stoneman, whose extensive backgrounds are expected to be instrumental in driving the new division forward.

Scott Beckett, the new National Senior Vice President, brings over 32 years of industry experience. A graduate of the University of Western Ontario with a degree in Statistics and Actuarial Science and an MBA from the Richard Ivey School of Business, Beckett is a recognized leader in the field. As a founding partner of Kearns Edgewater Financial Services Inc. (KEFSI) and former President of Edgewater Financial Group, he was instrumental in building the firms Axis has now acquired. He is known for pioneering "integrated planning"—a sophisticated approach that combines personal insurance with business insurance and employee benefit plans to create tax-efficient and cost-effective coverage for successful Canadians. His expertise and licensure across all ten provinces make him a pivotal figure in scaling Axis's national wealth and benefits strategy.

John Stoneman, appointed Vice President, Life, Benefits & Wealth, joined KEFSI in 2013 and quickly became a key figure in its business development. An alumnus of Queen's University, Stoneman has focused on serving corporate and private family clients, assisting with complex estate planning and implementing high-quality insurance solutions. As a Partner at KEFSI, he was deeply involved in developing succession plans and marketing the firm’s bespoke services to a growing clientele of legacy families and expanding companies. His experience in nurturing client relationships and developing sophisticated financial strategies will be vital in integrating the acquired client portfolios.

A Legacy of Specialized Service

The firms joining Axis bring with them a legacy of specialized, high-touch service. Kearns Edgewater Financial Services Inc. (KEFSI) established itself as a boutique insurance marketing firm in Toronto, catering to affluent Canadians with a focus on sophisticated, tax-efficient planning. Its growth was bolstered by the strategic acquisition of Duggan Benefits in 2017, which added over 150 employee benefit clients and decades of consulting experience to its portfolio.

Similarly, Kearns Insurance Corporation, founded in 1983 by Robert G. Kearns, built a strong reputation for its creative and customized life and living benefit insurance solutions. The acquisition by Axis specifically targets its Group Benefits portfolio, indicating a precise strategic goal to rapidly scale its employee benefit offerings.

By absorbing these entities, Axis is not just acquiring assets and client lists; it is integrating decades of specialized knowledge, established client trust, and a proven track record in the high-net-worth and corporate benefits spaces. This move is designed to transform risk management into a pathway for client growth, empowering them to navigate financial uncertainty with confidence.

Enhancing the Client Experience

For clients of Edgewater, Kearns Edgewater, and Kearns Insurance Corporation, Axis has emphasized a commitment to a seamless transition. The stated goal is to enhance the service offering without disrupting the trusted relationships that have been the bedrock of these firms. The press release highlights a mission to preserve the "relationship-driven approach that clients have trusted for decades."

The integration promises clients access to a broader suite of services under one roof. A business owner who previously worked with KEFSI for executive benefits can now access Axis's extensive commercial insurance, risk management, and personal insurance lines through a single, coordinated team. This holistic model, combining deep specialization with broad service capability, represents the core value proposition of the merger.

By bringing leaders like Beckett and Stoneman into its fold, Axis ensures continuity of leadership and philosophy. Their focus on integrated, client-centric planning is now backed by the resources and scale of a leading national brokerage, a combination that promises to deliver a more powerful and comprehensive service experience for individuals and businesses across Canada.