Tracked deals
12
12 tracked deals across 2019-2026.
Who's Buying Wealth Management Companies in Canada
Buyer mix
Strategic-led
9 strategic · 3 pe
Top trend
Volume peaked in 2025
4 tracked deals announced in 2025.
Primary Insight
What Stands Out
- Harbourfront Wealth Group and Harbourfront Wealth Holdings Inc. appear repeatedly, including add-on acquisitions that grow AUA and expand coverage into markets such as Toronto, Calgary, Québec, and Alberta.
- Canadian banks and large investors participate as well: BMO agreed to acquire Burgundy Asset Management Ltd., while iA Financial Corporation Inc. completed the acquisition of RF Capital Group Inc.
- Targets span boutique wealth managers, CIRO-registered investment dealers, and multi-family office platforms—reflecting buyer interest in client relationships and regulated distribution.
- Several deals emphasize platform integration (advisor networks, technology-enabled service offerings, and related digital capabilities), with closing subject to regulatory and customary conditions.
| Buyer | Example target | Geographic emphasis |
|---|---|---|
| Harbourfront Wealth Group/Holdings | Cumberland Partners Limited | Canada; deepen Toronto & Calgary |
| BMO | Burgundy Asset Management Ltd. | Ontario |
| iA Financial Corporation | RF Capital Group Inc. (Richardson Wealth) | Canada |
| Onex Corporation | Gluskin Sheff + Associates Inc. | Ontario |
| CI Financial Corp. | Northwood Family Office Ltd. | Canada |
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Harbourfront Wealth Holdings Inc. | 2 | Independent wealth advisory and investment management fir... | Strategic |
| Audax Private Equity | 1 | Middle‑market alternative investment manager focused on p... | PE |
| BMO | 1 | Major North American bank providing wealth management and... | Strategic |
| CI Financial Corp. | 1 | Independent asset management and wealth management adviso... | Strategic |
| Cardinal Point Wealth Management | 1 | Independent cross-border wealth management firm serving c... | Strategic |
| GMG Private Counsel ULC | 1 | Private counsel unit within the GAVIN Hockey Wealth Speci... | Mixed |
| Harbourfront Wealth Group | 1 | Independent wealth advisory and investment management gro... | Strategic |
| Harbourfront Wealth Management | 1 | Independent wealth advisory and investment management fir... | Strategic |
| Onex Corporation | 1 | Global private equity and credit firm that acquires and b... | PE |
| Purpose Advisor Solutions | 1 | Provider of an end-to-end advisor wealth platform (CRM, p... | Strategic |
Acquisition Volume in Wealth Management in Canada by Year
Last 6 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- Buyer
- Harbourfront Wealth Group
- Target
- Cumberland Partners Limited, Cumberland Private Wealth Management, Cumberland Investment Counsel, NCM Investments
- Seller
- Cumberland Partners Limited (and its subsidiaries, as the acquired entities)
- Industry
- Wealth Management
- Location
- Canada
- Type
- Buyout
Harbourfront Wealth Group entered into an agreement to acquire Cumberland Partners Limited and its subsidiaries, adding approximately $5 billion in assets under administration. The deal expands Harbourfront Wealth’s presence across Canada and specifically deepens its footprint in Toronto and Calgary, with closing expected in Q3 2026 subject to regulatory approvals and customary conditions.
-
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.
-
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.
-
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.
-
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.
-
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.
-
- 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.
-
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.
-
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.
-
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.
-
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.
-
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
Which buyers are most active in Canadian wealth management acquisitions?
Harbourfront Wealth Group/Holdings appear repeatedly, alongside other recurring acquirers such as BMO, CI Financial Corp., iA Financial Corporation Inc., Audax Private Equity, and Onex Corporation.
What kinds of targets are being acquired in Canada’s wealth management sector?
Recent transactions include boutique wealth managers, CIRO-registered investment dealers, multi-family office platforms, and investment-management specialists.
How do these deals typically get structured and approved?
Many transactions are described as being subject to regulatory approvals and customary closing conditions; some also use court-approved plan-of-arrangement structures (as with iA Financial Corporation and RF Capital Group).
Do acquisition announcements highlight assets under administration (AUA)?
Yes. Multiple deals explicitly reference incremental AUA (for example, Harbourfront acquisitions such as Millar Private Wealth and KJ Harrison & Partners), framing the rationale around scale.
Related Acquisition Pages
Wealth Management Buyers & Acquisitions
Private Equity-Backed Wealth Management Buyers
Wealth Management Acquisitions in 2026
Wealth Management Acquisitions in 2025
Wealth Management Acquisitions in 2024
Wealth Management Acquisitions in 2022
Wealth Management Acquisitions in 2020
Wealth Management Acquisitions in 2019