National Bank Financial has acquired Aquilon Capital Corp., a Toronto-based investment management firm, the company said today.

This transaction will increase National Bank Financial’s assets under management by $500 million, according to a release.

“This acquisition will strengthen National Bank Financial’s wealth management presence in Toronto,” said Luc Paiement, co-president and co-CEO of National Bank Financial, in a release. “Aquilon’s advisory expertise and client base of individuals and families who seek customized solutions makes it a natural fit for National Bank Financial’s Individual Investor Services network.”

Aquilon currently manages over $500 million in assets for 1,500 accounts. It was founded in 1990. According to the announcement, approximately 15 Aquilon employees will be joining National Bank Financial, including eight advisors who specialize in personal wealth management for high net worth clients.

The transaction is subject to regulatory approval.