Completed through their Australian operations, Canaccord Financial Group Australia, the acquisition will see the Canadian group control $41.8 billion of assets under advice, $17 billion of which are fee based (FUM) assets.
Once the Wilsons workforce is integrated, Canaccord’s team of professional investment advisers will grow to approximately 200.
According to Canaccord: “The acquisition supports Canaccord’s strategy of increasing the scale of its wealth management operations and enhancing its capital markets capabilities in a key growth market.”
It will also increase the firm’s national footprint, expanding its operations in NSW, Victoria, Queensland, Western Australia and South Australia.
“Our acquisition of Wilsons positions Canaccord Genuity Australia as one of the leading integrated wealth management and capital markets firms in Australia, differentiated by scale, deep local expertise and global reach, and we look forward to bringing our teams together,” said Marcus Freeman, CEO of Canaccord Genuity Australia.
“By uniting our complementary strengths and increasing the scale of our operations, we expect to substantially enhance our value proposition and product suite for our wealth management and capital markets clients.”
According to the two recently joined firms, their now unified capital markets division will provide “comprehensive” financing and advisory services for established and emerging corporate entities. Key sectors highlighted for this focus are industrials, healthcare, technology and natural resources.
“The decision to bring our business together with Canaccord Genuity is driven by strategic alignment and a shared vision for long-term growth,” said Brad Gale, CEO of Wilsons Advisory.
“By combining our strengths, we are building a powerful Australian wealth management and capital markets business with greater scale, broader capabilities and a stronger platform to support our clients while creating more opportunities for our people.”
According to Canaccord, “the professionals and clients of Wilsons will benefit from being part of a larger, integrated wealth management and capital markets business with deep resources and a strong commitment to supporting their long-term growth and success”. Senior leadership within Wilsons will also play a continuing role after the transaction is complete.
Completion of the transaction is subject to regulatory approval and customary closing conditions and is expected to occur in the second half of calendar 2025.
