The proposed acquisition of Collins Stewart Wealth Management’s (CSWM) parent company, Collins Stewart Hawkpoint plc, by Canaccord Financial Inc, previously announced in December 2011, has been formally completed.
Canaccord Financial Inc (Canaccord”), through its principal subsidiaries, is an independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and global capital markets. Since its establishment in 1950, Canaccord has been driven by an unwavering commitment to building lasting client relationships.
Canaccord Wealth Management, is one of the largest independent investment dealers in Canada., with assets under administration (“AUA”) in excess of CAD14bn as of 31 December, 2011. Combined with CSWM’s AUM of GBP7.7bn from their presence in the UK, Channel Islands, Isle of Man and Geneva, the Group will have combined wealth management AUA in excess of GBP14bn (CAD26bn).
As communicated previously, this change of ownership will have no impact on CSWM clients. CSWM will continue to offer the same award-winning services and operate the same client-driven business model. In addition, Collins Stewart Wealth Management will continue with its current branding until later this year.
Neil Darke, CEO of CSWM says: “Canaccord and Collins Stewart Wealth Management have strikingly similar core values: we are client driven, focused on our key service offering, independent and entrepreneurial, and we welcome Canaccord’s ownership. As leading wealth management businesses in our respective jurisdictions, I look forward to working with my new colleagues in Canada and sharing best practices.”
