Sixth deal in three years adds a high-net-worth portfolio manager to the group's counsel division
Harbourfront Wealth Group announced on Tuesday that it has acquired Galliant Advisors LP, lifting the Vancouver-based group's assets under administration to more than $23bn.
Galliant, founded in 2007, is a Montreal-based investment management firm that offers investment solutions to high-net-worth individuals and institutions.
The firm will become part of Harbourfront Wealth Counsel, the group's division for investment counsel portfolio managers.
Richard McIntyre, chief executive officer of Harbourfront Wealth in Vancouver, said in the announcement that Galliant is the company's sixth acquisition in three years and part of a growth strategy it is executing across the country.
He said Galliant brings a team and client relationships to the firm.
Danny Popescu, founder and executive chair of Harbourfront Wealth in Vancouver, said in the announcement that the company was started to give advisors the structure to grow without losing their independence.
Popescu said Galliant's addition extends that approach.
Ian Shaffer, president and chief investment officer of Galliant in Montreal, said the deal is "about strengthening what we can deliver to clients."
"Harbourfront Wealth offers the independence, infrastructure and scale needed to support the next stage of our growth, while allowing us to remain focused on client outcomes," Shaffer said.
He added that for Galliant clients, "this means continued access to a trusted team, a disciplined investment process and an enhanced service experience backed by a growing national wealth management platform."
Harbourfront Wealth Group was founded in 2013 with the launch of Harbourfront Wealth Management and operates more than 60 locations across Canada.
The group includes a CIRO-regulated investment dealer, a portfolio manager, an insurance company, an asset management firm and a US SEC registered investment advisor.
