Wealth Management Acquisitions in Canada
Wealth Management Acquisitions in Canada
This page highlights notable acquisitions and investments shaping the Canadian wealth management sector, from platform investments to boutique add-on deals. Transactions span national and provincial footprints, including activity in Ontario, Québec and British Columbia.
Recurring themes include platform roll-ups and capability builds: Harbourfront Wealth Holdings Inc. has pursued add-on deals that materially increase assets under administration, Audax Private Equity made a strategic minority investment to support Harbourfront’s growth, and buyers such as Slate Asset Management and Onex Corporation have completed transactions that expand product or distribution capabilities. Technology and advisor-focused platform consolidation also appear, for example Purpose Advisor Solutions acquiring Wealthsimple for Advisors to combine teams and digital services.
What Stands Out
- Harbourfront is a frequent buyer: add-ons such as Millar Private Wealth Management Inc. (adds ~$800M AUA) have pushed Harbourfront’s total AUA above $12 billion, and earlier deals grew AUA to nearly CAD$11B and ~CAD$8B in prior transactions.
- Private equity and strategic investors are active: Audax Private Equity completed a minority growth investment in The Harbourfront Group (enterprise value CAD $425M) and Onex Corporation completed a major acquisition of Gluskin Sheff (approx. C$445M).
- Capability and product expansion: Slate Asset Management acquired Presima Inc. to add ~$1.1B in real-estate-securities AUM, showing interest in specialist asset strategies.
- Regional spread: recent deals involve national expansion and provincial anchors in Ontario, Québec and British Columbia, with acquisitions integrating local advisor teams into national platforms.
- Platform and technology consolidation: transactions like Purpose Advisor Solutions acquiring Wealthsimple for Advisors emphasize combining technology, portfolio management and advisor services.
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November 3, 2025
- Buyer
- iA Financial Corporation Inc.
- Target
- RF Capital Group Inc.
- Industry
- Wealth Management
- Location
- Canada
- Type
- Buyout
iA Financial Corporation completed its previously announced acquisition of RF Capital Group, operating under the Richardson Wealth brand. The deal was implemented via a court-approved plan of arrangement, with iA acquiring RF Capital’s common shares for C$20.00 per share and its Series B preferred shares for C$25.00 per share.
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July 24, 2025
- Buyer
- Harbourfront Wealth Holdings Inc.
- Target
- Millar Private Wealth Management Inc.
- Industry
- Wealth Management
- Location
- Canada
- Type
- Addon
Harbourfront Wealth Holdings Inc. has acquired Millar Private Wealth Management Inc., adding approximately $800 million in assets under administration and bringing Harbourfront's total AUA to over $12 billion. The deal is an add-on acquisition to Harbourfront’s growing independent wealth platform as it continues to expand its national footprint and technology-enabled service offering.
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June 19, 2025
- Buyer
- BMO
- Target
- Burgundy Asset Management Ltd.
- Industry
- Wealth Management
- Location
- Ontario, Canada
- Type
- Buyout
BMO and Burgundy Asset Management Ltd. signed a definitive agreement for BMO to acquire Burgundy for approximately $625 million. The transaction is expected to close by the end of calendar 2025, subject to customary regulatory approvals and other closing conditions.
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April 25, 2025
- Buyer
- Harbourfront Wealth Holdings Inc.
- Target
- KJ Harrison & Partners
- Industry
- Wealth Management
- Location
- Ontario, Canada
- Type
- Buyout
Harbourfront Wealth Holdings Inc. has acquired KJ Harrison & Partners, a boutique wealth management and CIRO-registered investment dealer. The deal expands Harbourfront's assets under administration to nearly CAD 11 billion and strengthens its capabilities serving high-net-worth clients and family offices across Canada.
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October 18, 2024
- Buyer
- Harbourfront Wealth Management
- Target
- Rothenberg Wealth Management, Rothenberg & Rothenberg Annuities
- Industry
- Wealth Management
- Location
- Quebec, Canada
- Type
- Buyout
Harbourfront Wealth Management has acquired Rothenberg Wealth Management, including Rothenberg & Rothenberg Annuities, expanding Harbourfront's assets under administration to approximately CAD$8 billion. The acquisition enhances Harbourfront's presence in Québec and Alberta and integrates Rothenberg's Montreal and Calgary offices into Harbourfront's national advisor network.
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- Buyer
- Cardinal Point Wealth Management, GMG Private Counsel ULC
- Target
- GMG Private Counsel ULC, Cardinal Point Athlete Advisors
- Seller
- GAVIN Hockey Wealth Specialists (including GMG Private Counsel ULC and GAVIN entities referenced in the announcement)
- Industry
- Wealth Management
- Location
- Canada
- Type
- Addon
Cardinal Point Wealth Management (CPWM) announced that GMG Private Counsel ULC, part of the GAVIN Hockey Wealth Specialists group, will combine with CPWM on or about June 1, 2024. The deal is aimed at expanding financial planning, wealth management, investment, and related services for active and retired professional hockey athletes, including broader investment capabilities and added tax expertise.
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June 14, 2022
- Buyer
- Slate Asset Management
- Target
- Presima Inc.
- Industry
- Wealth Management
- Location
- Quebec, Canada
- Type
- Buyout
Slate Asset Management has completed the acquisition of Presima, a Montreal-based specialist investment manager focused on global real estate securities, adding approximately $1.1 billion in assets. The deal, which closed on June 10, 2022, brings a team of investment professionals to Slate and expands its public market real estate investing capabilities in North America.
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June 14, 2022
- Buyer
- Audax Private Equity
- Target
- The Harbourfront Group
- Seller
- Harbourfront's shareholders (including its team of Investment Advisors)
- Industry
- Wealth Management
- Location
- British Columbia, Canada
- Type
- Growth capital
Audax Private Equity completed a strategic growth investment in The Harbourfront Group, valuing the Vancouver-based wealth management platform at an enterprise value of CAD $425 million. The minority investment will provide liquidity to Harbourfront’s shareholders (including its team of investment advisors) and support the company’s organic growth and buy‑and‑build acquisition strategy across Canada.
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January 11, 2022
- Buyer
- CI Financial Corp.
- Target
- Northwood Family Office Ltd.
- Industry
- Wealth Management
- Location
- Canada
- Type
- Buyout
CI Financial Corp. agreed to acquire Northwood Family Office Ltd., a leading Canadian multi-family office. The deal is expected to close in the second quarter of 2022, subject to regulatory approval and customary closing conditions, with financial terms not disclosed.
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January 23, 2020
- Buyer
- Purpose Advisor Solutions
- Target
- Wealthsimple for Advisors
- Seller
- Wealthsimple
- Industry
- Wealth Management
- Location
- Ontario, Canada
- Type
- Divestiture
Purpose Advisor Solutions (majority owned by Purpose Financial) has acquired the Wealthsimple for Advisors business to create a single, advisor-focused wealth platform in Canada. The deal combines teams and technology to scale Purpose Advisor Solutions’ end-to-end advisor offering and accelerate investments in portfolio management, CRM, reporting, compliance and other digital services; Wealthsimple leaders J‑F Courville and Dave Nugent will join PAS as managing partners.
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March 22, 2019
- Buyer
- Onex Corporation
- Target
- Gluskin Sheff + Associates Inc.
- Industry
- Wealth Management
- Location
- Ontario, Canada
- Type
- Buyout
Onex Corporation agreed to acquire 100% of Gluskin Sheff + Associates Inc. for C$14.25 per share (approx. C$445 million) in an all-cash transaction announced March 22, 2019. The deal brings together Onex's private equity and credit platforms with Gluskin Sheff's wealth-management and public-securities investing capabilities to broaden client product offerings.
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Frequently Asked Questions
Who are the active buyers in Canadian wealth management?
Active buyers include independent wealth platforms and strategic firms such as Harbourfront Wealth Holdings Inc. and Harbourfront Wealth Management, private equity groups like Audax Private Equity, asset managers such as Slate Asset Management, and strategic buyers including Onex Corporation and Purpose Advisor Solutions.
What deal types are most common in these transactions?
The deals shown are a mix of add-on acquisitions that expand advisor networks and AUA, strategic minority investments to fund growth (e.g., Audax in Harbourfront), and bolt-on purchases to add specialist capabilities or technology.
What scale of assets do these transactions involve?
Transactions range from add-ons that contribute hundreds of millions in AUA (for example ~$800M from Millar Private Wealth Management Inc.) to platform-level deals and investments valued in the hundreds of millions (for example the CAD $425M valuation for The Harbourfront Group and Onex’s ~C$445M acquisition of Gluskin Sheff).
Which Canadian regions see the most activity?
Recent activity is concentrated across Ontario, Québec and British Columbia, with deals that expand national footprints by integrating local offices and advisor teams into larger platforms.