Wellington West Holdings Inc. Tuesday announced an agreement with Brownstone Investment Planning Inc. to purchase the privately held, Winnipeg-based financial planning firm.

Terms of the deal were not disclosed.

The acquisition enhances the Wellington West’s financial planning capabilities and ability to deliver expert wealth and financial planning services to clients nationally, the company says.

“This acquisition will allow us to do more of what we do best,” says Kish Kapoor, president, Wellington West. “We continue to build and position ourselves for future growth.”

Privately owned Wellington West is the parent company of Wellington West Financial Services Inc.

“We were truly impressed at the calibre of people and expertise at Brownstone,” says Wade Lawrence, president, Wellington West Financial Services Inc.

“Acquiring Brownstone will strengthen Wellington West’s overall financial planning offering, providing us further opportunity to expand our client relationships across the country.”

“Joining Wellington West will further enable our financial planning professionals to continue to deliver the highest levels of planning expertise to our clients,” says Murray Kipling, president, Brownstone. “We are excited about the opportunity to join this award-winning organization.”

Brownstone has office ins Calgary, Toronto, and Winnipeg.

The deal is expected to close by October 31, subject to regulatory approval, at which time Brownstone will operate as part of Wellington West Financial Services Inc.

IE