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\u2019s financial planning capabilities and ability to deliver expert wealth and financial planning services to clients nationally, the company says.
\u201cThis acquisition will allow us to do more of what we do best,\u201d says Kish Kapoor, president, Wellington West. \u201cWe continue to build and position ourselves for future growth.\u201d
Privately owned Wellington West is the parent company of Wellington West Financial Services Inc.
\u201cWe were truly impressed at the calibre of people and expertise at Brownstone,\u201d says Wade Lawrence, president, Wellington West Financial Services Inc.
\u201cAcquiring Brownstone will strengthen Wellington West\u2019s overall financial planning offering, providing us further opportunity to expand our client relationships across the country.\u201d
\u201cJoining Wellington West will further enable our financial planning professionals to continue to deliver the highest levels of planning expertise to our clients,\u201d says Murray Kipling, president, Brownstone. \u201cWe are excited about the opportunity to join this award-winning organization.\u201d
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.
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