Canaccord Genuity Wealth Management (CGWM UK) has agreed to acquire Scottish financial planning business Intelligent Capital. The deal is expected to complete by the end of March 2024.
Glasgow-based Intelligent Capital holds £220m in client assets and has been in financial planning since 1999.
After the acquisition, it will operate under Adam & Company, which became a part of Canaccord in 2021. Intelligent Capital will continue to directly manage its clients and said the core client proposition will remain the same.
David Esfandi, CEO of CGWM UK, said: “We are excited to be joined by a strong team of deeply experienced financial planning professionals from Intelligent Capital.
“We have had an excellent experience since entering the important Scottish market in 2021, and the addition of a new office in Glasgow gives us more expertise in the region to meet the growing demand for our outstanding integrated wealth management offering.”
Intelligent Capital managing director David Bremner will make the shift with the company, joining as head of wealth management- Glasgow for Adam & Company and help in the process of integrating the business. He brings over 30 years of experience to the position.
“We have always had a strong vision for the future of Intelligent Capital and from our earliest conversations, we found that Canaccord Genuity and Adam & Company were completely aligned with our values and our commitment to high ethics and client service standards,” Bremner said.
“I look forward to beginning this next chapter with a leading Scottish brand and being able to offer our existing and future clients an elevated financial planning experience.”