Wealth management firm MacDougall, MacDougall & MacTier Inc. (3Macs) Wednesday announced the acquisition of Toronto-based Castellum Capital Management Inc.
Karen Shoffner, president and Owen Phillips, executive vice president will become part of 3Macs subsidiary MacDougall Investment Counsel Inc., which is dedicated to serving the investment management needs of individual investors, foundations and institutions on a discretionary basis.
Earlier this year, 3Macs announced a strategic growth plan to increase its national footprint and bring its more than 160-year history and expertise to more Canadian investors and institutional type clients. The acquisition of Castellum signals another milestone for the firm.
“This is a transformative year for 3Macs and MacDougall Investment Counsel Inc. as we continue to build on our success and invest in our platform to better serve the needs of our clients, advisors and portfolio managers,” says Randy Ambrosie, 3Macs CEO. “The expertise and values shared by Karen and Owen in managing wealth aligns perfectly with MacDougall Investment Counsel’s philosophy.”
The acquisition of Castellum, scheduled to close in November, will strengthen both 3Macs and MacDougall Investment Counsel’s position as a leading independent wealth management organization. Since announcing its acquisition of two Desjardins Securities branches located in Toronto and North York, earlier in the year, the firm has been steadily increasing its assets under management. In August, 3Macs also announced an investment in a state-of-the art technology platform with Fidelity Clearing Canada ULC.