National Bank Financial has acquired Groupe Financier Everest, a Quebec-based brokerage firm, it announced today.

The addition of Everest will add $550 million to National Bank’s assets under management, according to a release. The company said the deal will add to NBF’s market share in the Quebec market.

“We are very confident in the potential of this transaction for both our institution and our clients,” said Richard Rousseau, executive vice-president and managing director, individual investor services at National Bank Financial, in a release. “Everest’s investment advisors have an approach to asset management and commitment to providing broad-based financial advice and service that closely mirrors our own.”

No details about the transaction have been released.

National Bank says it has been actively growing its wealth management business across Canada, and calls this acquisition “the latest in a series of initiatives that illustrate the increasingly prominent role the Bank and its subsidiaries currently play in Canada’s financial services sector.”

Yesterday, NBF announced its acquisition of Aquilon Capital Corp., a Toronto-based investment management firm.