MacDougall, MacDougall & MacTier (3Macs), a Canada-based wealth management firm, has completed its acquisition of three Ontario branches of Desjardins Securities, the brokerage firm of Desjardins Group.
The acquisition will expand the presence of 3Macs in Ontario and will offer its advisors access to Desjardins wealth management products.
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In addition, the deal will enable Desjardins to distribute its products widely throughout the country.
Through this acquisition, Desjardins will be given an opportunity to exercise a minority ownership interest in 3Macs next year. 3Macs will also support Canadians to meet their comprehensive wealth management needs.
Terms of the deal were not yet disclosed.
Randy Ambrosie, president and CEO of3Macs, said: "We believe that equity ownership fosters teamwork by providing a unified voice – ultimately making us a more client-centric firm."
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By GlobalDataVincent Hogue, senior vice-president and head of private client services at Desjardins Securities, said: "We’re happy that the process is now done and we look forward to supporting and participating in 3Macs’ future growth. As we are committed to growing across Canada, this agreement is giving us more opportunities to expand the distribution of our products."
