Our decision to sell MD Financial Management (MD) was made after much deliberation and discussion with leading financial experts. We heard how new technologies like bitcoin and cryptocurrency are rapidly changing the face of the industry, and how clients are asking for more and more tailored and specialized services. Understanding this context, and reviewing MD’s prospects within this market, helped us come to the decision to work with Scotiabank. We’re now able to ensure that MD can serve many future generations of doctors and their families, and offer new products and services to better meet their needs, including for early-career physicians.

The CMA Board of Directors will be establishing separate boards to invest and steward the proceeds of the sale. We plan to work closely with our members to decide how these funds—in addition to the $115 million that Scotiabank is investing as part of our affinity agreement—can be used to support the medical profession and better health.
—Brian Brodie, MD
Chair, CMA Board of Directors

This letter was submitted in response to “Re: Sale of MD Financial Management.” [10]