Montreal-based Fiera Capital Corp. (TSX:FSZ) Tuesday reported a rise in profit for the fourth quarter ended September 30.

Net earnings rose to $3 million, or $0.05 per share, from $1.2 million or $0.03 per share in the year-ago period.

On an adjusted basis, earnings for the quarter totaled $6.6 million, or $0.12 per share.

Revenues for the quarter jumped to $26.4 million from $16.07 million a year ago, reflecting the acquisition of Natcan Investment Management Inc. earlier this year.

At the end of the quarter, the Fiera had assets under management of $55.221 billion, compared to $29.020 billion in the same period last year.

Following the end of the quarter, Fiera reached an agreement with Société Général Private Banking to acquire Canadian Wealth Management Group Inc. (CWM), the Calgary-based subsidiary of Société Général Private Banking.

“We continue to focus on growth by expanding our geographic and sectorial presence. Our recent agreement to acquire CWM, a private wealth manager, is in line with the firm’s plan to create a powerful platform for growth, significant revenue and earnings leverage. It solidifies Fiera Capital’s position as one of Canada’s fastest growing investment managers and adds to our presence in western Canada,” said Jean-Guy Desjardins, chairman CEO and CIO of Fiera.