The acquisition will be made by Scotiabank’s broker affiliate, Scotia Capital, and include WaterStreet’s registered adviser, WaterStreet Family Capital Counsel.
Scotiabank said that the WaterStreet brand will be maintained and will continue to offer clients same services it used to offer before.
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The services provided by WaterStreet include counseling on taxation and compliance, as well as financial planning, detailed financial reporting, investments, risk management, strategic insurance and philanthropy, family continuity, governance and administration.
Financial terms of the deal, were not immediately available, but the bank said they were not financially material.
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