A group of approximately 60 investment advisors and their related staff will transfer to Dundee Goodman Private Wealth from Richardson GMP Limited.
"We are delighted to welcome this talented group of investment advisors and their clients," says Jonathan Goodman (pictured), president and CEO of Dundee Capital Markets. "This transaction marks a valuable addition to our growing wealth management business, thereby cementing our position as a strong and independently owned Canadian securities firm."
The new Dundee Goodman investment advisors manage portfolios with a combined value of approximately USD2bn. With this transaction, Dundee Goodman Private Wealth will comprise of approximately 100 investment advisors across Canada managing portfolios valued at more than USD6bn and Dundee Securities as a whole will expand its global reach with offices in Toronto, Montreal, Calgary, Vancouver, Ottawa, Victoria, Dubai and London, England.
"This transaction marks a significant step forward in Dundee Corporation's strategic plan to build its private wealth and capital markets divisions into first class entities," says Ned Goodman, president and CEO of Dundee Goodman Private Wealth's parent company, Dundee Corporation. "We look forward to growing our assets and those of our clients over the foreseeable future. Our vision is to build long term increasing value in everything we do."
Under the agreement, Dundee Goodman will take over the former Macquarie Private Wealth offices in Ottawa, Montreal and Victoria. A more limited transfer of investment advisors will take place from Richardson GMP offices in Vancouver, Calgary and Toronto to Dundee Goodman's offices in those cities. Senior Dundee Goodman executives will travel to all six cities over the next week to explain details of the transaction and address questions and concerns.