Â鶹´«Ã½Ó³»wealth management firm Harbourfront Group is continuing its expansion across Canada with today's announcement of the acquisition of Quebec-based Rothenberg Wealth Management.
It is the second acquisition in recent months for the Â鶹´«Ã½Ó³»wealth management company. Earlier this year, in June, Harbourfront also acquired Alberta’s Cornerstone Fiduciary Wealth Management for an undisclosed amount.
The acquisition of Rothenberg Wealth Management brings with it a registered investment dealer under the Canadian Investment Regulatory Organization (CIRO) and a guaranteed investment certificate dealer, Harbourfront said in a news release.
As part of the transaction -- a cash and stock deal -- Harbourfront is acquiring Rothenberg and Rothenberg Annuities – Rothenberg’s life insurance and annuities company.
In its news release, Harbourfront says the value of the CIRO dealer is $1.2 billion in assets under administration.
The latest acquisition brings Harbourfront’s assets under administration to roughly $8 billion, and expands its presence in Québec and Alberta.
“Acquisitions of high-quality firms like Rothenberg will continue building our momentum as a leader among independent wealth firms,” Harbourfront CEO Danny Popescu in a news release.
Harbourfront has more than 30 wealth management advisory branches across Canada, and also operates in the U.S. as Harbourfront Wealth America.
