The terms of the deal, subject to approval from the Isle of Man Financial Services Authority, have not been disclosed, but around 62% of the portfolios will be discretionary, and 38% execution only.
Canaccord said the acquisition supports its strategy to grow assets under management, which currently stand at over £14bn in its UK and Europe wealth management operations.
It has been confirmed that none of Duncan Lawrie’s staff will move over to Canaccord as part of the deal.
David Esfandi, chief executive of Canaccord Genuity Wealth Management in the UK & Europe, said: “The acquisition of the Duncan Lawrie client portfolios on the Isle of Man is a great fit for our business, given our similar investment ethos and our synergies in client service.
“It is further proof of our wholehearted commitment to all the jurisdictions in which we operate.
“We have ambitious plans to grow our business and with a strong track record of meeting client needs and with our recent investment in technology and systems, we are well-placed to grow our client base and achieve our business objectives.”
In December, Brewin Dolphin reached an agreement to acquire Duncan Lawrie Asset Management for £28m, while Arbuthnot reportedly paid £42.7m for the Duncan Lawrie loan book.
