Rockwater Capital Corp. has completed the acquisition of Brawley Cathers Ltd. (“Brawley Cathers”), an independent investment management firm.

The acquisition, first announced on September 3, was completed by way of an asset purchase. Effectively immediately, the Brawley Cathers business will begin serving clients as part of First Associates Investments Inc., Rockwater’s wholly owned full service investment dealer subsidiary. The purchase terms and price were not disclosed.

Brawley Cathers was established in 1932 in Toronto, Ontario. The firm provides investment advice and service to a wide range of individual and institutional clients across Canada.

“Everyone at Brawley Cathers is to be congratulated on building such a successful and well-respected organization,” said Bill Packham, president and CEO of Rockwater, in a news release. “Their client focus and service commitment make them an ideal addition to our First Associates team. We are very pleased to have them join us and look forward to building our businesses together.”

“The acquisition enhances our presence in the Toronto market by adding a team of high quality investment advisors to our expanding First Associates Private Client Group,” said Bill Fulton, COO of both Rockwater and First Associates. “It also brings our total client assets under administration to over $5.1 billion, surpassing our $5 billion target for 2003.”