Canaccord Genuity Wealth Management, the UK and Europe wealth management arm of Canada’s Canaccord Genuity Group, has bolstered its national presence by taking over Worcester-based financial advisory business McCarthy Taylor.

McCarthy, set up in 1998, offers bespoke financial planning and discretionary investment management services. The firm services clients across the Midlands.

Canaccord Genuity Wealth Management CEO David Esfandi said: “The acquisition of McCarthy Taylor represents an opportunity to expand our Midlands presence and creates a regional financial planning centre of excellence, which will be fully supported by our broader UK team.

“Together we share an unwavering commitment to expanding our offering of best-in-class fully integrated investment management and wealth planning services to discerning investors across the UK.”

The acquisition, whose financial terms were not disclosed, adds around £171m to Canaccord’s books.

McCarthy CEO Paul Taylor said: “Today marks an exciting chapter in the evolution of our business, and I am confident that joining Canaccord Genuity Wealth Management will bring significant benefits for our clients and our employees as we expand our services and opportunities.”

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Paul Taylor will remain actively involved in the business to ensure a smooth transition.

In 2017, Canaccord Genuity Wealth Management snapped up British wealth manager Hargreave Hale.