Toronto-based Canaccord Genuity Group Inc. has acquired Worcester, U.K.-based McCarthy Taylor Ltd. The acquisition was made though the firm’s U.K. and Europe wealth-management business, Canaccord Genuity Wealth Management (CGWM (UK)), the independent financial services firm announced Tuesday.
Financial terms were not disclosed.
The acquisition supports Canaccord Genuity’s strategy of growing its wealth-management operations and advances CGWM (UK)’s objective of expanding its national footprint and broadening its offering of fully integrated investment and wealth-planning services, the company says in a release.
Founded in 1998, McCarthy Taylor is an independent financial advisory firm serving clients across the Midlands. It provides bespoke financial planning and discretionary investment management and manages client assets of approximately £171 million ($298 million).
Paul Taylor,founder, CEO and majority shareholder of McCarthy Taylor will continue to be actively involved in the business to help facilitate a successful transition to CGWM (UK).