Richardson GMP Ltd. is taking an “all-hands-on-deck” attitude in its acquisition of Toronto-based Macquarie Private Wealth Inc. (MPW Canada) to help ensure the transition is a smooth one and client retention remains high.

“Our focus going through with [the transition] will be absolutely to devote as many resources as possible to make sure that the client experience is not disrupted,” says Andrew Marsh, president and CEO of Toronto-based Richardson GMP.

Richardson now has $28 billion in assets under administration (AUA). The firm will rely heavily on its past experience with mergers and acquisitions to maintain those assets. In 2009, Richardson Partners Financial Ltd.’s merger with GMP Private Client LP was accomplished smoothly, says Marsh, which will help with the Macquarie transaction.

“We were able to successfully convert client assets and holdings onto Richardson GMP systems then,” he says. “We did a good job of it. “

Also, helping with the transition will be Earl Evans, head of MPW Canada, who will work as a member of Marsh’s team.

Going through the transition process will be familiar to many of the Macquarie advisors as this purchase marks the third acquisition for them within the last 10 years. Macquarie purchased the wealth management firm from Blackmont Capital Inc. in 2009. Blackmont itself was created through its former parent company’s (Rockwater Capital Corp.) amalgamation of Toronto-based First Associates Investment Inc. and Calgary-based Yorkton Securities Inc. in 2002 and 2003 respectively. First Associates was rebranded as Blackmont in 2005.

The decision to purchase MPW Canada first started early this summer, says Marsh, when Richardson was approached by a senior executive of Sydney, Australia-based Macquarie Group about the possible sale of its Canadian retail business, MPW Canada. Macquarie Group is the parent company of MPW Canada.

Although the acquisition makes Richardson GMP a much larger organization, Marsh does not foresee any major changes to the company’s business model and services in the coming year. Instead, the firm’s focus over the next year will be to find out even more about Macquarie and how to merge the best qualities of the two firms.

“Our goal right now is to learn everything we can about Macquarie’s business here in Canada,” he says. “The ideal scenario is we look at what we do well, what we don’t do well, what they do well and what they don’t do well and put the two firms together to capitalize on the best and create a better firm.”

The acquisition is still subject to regulatory approval and a number of closing conditions. The deal is expected to close in the fourth quarter of 2013.