Canada’s Canaccord Genuity Group has reported its highest quarterly revenue on record in the fourth fiscal quarter of 2021.

In the three-month-period that ended on 31 March 2021, the financial services firm’s quarterly revenue stood at C$692.3m ($573.2m), excluding non-IFRS measures. The figure was C$319m in the same quarter a year ago.

The firm’s annual revenue excluding non-IFRS measures for fiscal 2021 also hit record levels at C$2bn.

Net income attributable to common shareholders jumped from C$19.14m in Q4 2020 to C$133.26m Q4 2021.

Canaccord Genuity Wealth Management recorded a total revenue of C$199.2m in the fourth quarter, a jump of 44.4% over prior year’s result.

Total client assets in global wealth management operations also jumped by 46.2% on a year-over-year basis to C$88.8bn.

Wealth management operations in the UK & Europe, and the North American unit generated total revenue of C$75m and C$107m, respectively, in the three month period ended in March.

Australia wealth management operations generated C$12.9m in quarterly revenue.

Canaccord Genuity Group president and CEO Dan Daviau said: “The financial performance that we achieved in our fourth quarter and fiscal year clearly demonstrates that we are operating at a stronger level than any period in our history, and that is a testament to the power of our global platform and the incredible efforts put forth by our employees across the organisation.

“While we anticipate that activity levels in our core midmarket focus areas could moderate in the coming quarters, we are pleased to be starting fiscal 2022 with an even stronger wealth management franchise, expanded market share in our core sectors and geographies, and compelling prospects for expanding our product capabilities.”

In April, Canaccord agreed to buy Adam & Company’s private client investment management business for £54m. The deal will enable CGWM UK enter Scottish market.