Canaccord Genuity Group has completed its purchase of Cambridge-headquartered Cantab Asset Management, via its wealth management business Canaccord Genuity Wealth Management (CGWM).
The proposed purchase of the independent financial planning business was first announced in May this year. CGWM’s acquisition of Cantab has increased its assets under management by £900m, which the firm said “further consolidates” its position as a top 10 wealth manager in the UK.
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All investment professionals and supporting staff at Cantab will maintain their current roles and be “fully supported” in managing their client relationships, CGWM added.
David Esfandi (pictured), the firm’s CEO, said: “The Cantab integration extends our reach into the east of England and further strengthens our financial planning capability.
“Adding talented financial planning professionals who share our philosophy is central to our ambitious growth strategy and we are excited to welcome our new colleagues to Canaccord.
“Their dedication and expertise will be instrumental in our journey to become the best integrated wealth manager by performance and service.”
