Optimize Wealth Management has expanded into the heart of southern Ontario, Canada, with the takeover of Lifestyle Wealth.
Financial terms of the deal were not revealed.
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Through the takeover, Optimize will gain access to three new offices in the Welland, Port Colborne, and Kitchener/Waterloo areas.
With Optimize’s adviser platform, advisers can offer a multi-family office service proposition to their clients.
The firm provides financial planning, tax and estate planning, mortgage and insurance services.
Optimize head of Advisory Channels and Corporate Development Matthew McGrath said: “Lifestyle Wealth’s mission to deliver clarity, direction and an improved lifestyle to their clients perfectly complements Optimize’s approach to its full-service wealth management services.
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By GlobalData“We believe this acquisition is an excellent fit for both parties. Pairing Optimize’s robust portfolio management and multi-family office platforms along with the dedicated and premiere financial planning services of Lifestyle Wealth will provide clients with a significant amount of value.”
Recent developments in Canada wealth management
Last month, US-based investment bank Morgan Stanley tapped Canaccord Genuity to facilitate its entry into the wealth management business in Canada.
Canaccord Genuity will serve as the local platform provider of Morgan Stanley in the country.
Earlier this year, Canadian asset manager CI Financial acquired the Canada unit of New York-based ETF provider WisdomTree Investments.
