Experience with looking at wealth management / PM deals in Canada

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by a searcher from McGill University
in Montreal, QC, Canada

3mos ago

Experience with looking at wealth management / PM deals in Canada

Hi All -- does anyone have experience with acquiring Canadian wealth management books and firms? Especially as someone who isn't a financial planner / advisor? Want to understand some of the major pitfalls for these types of deals as well as what some key points of diligence and deal structuring should be.

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reply by a professional 3mos ago
from Wilfrid Laurier University in Calgary, AB, Canada

Thanks @redacted‌ for the tag. Unfortunately, I have no deal experience with this. But I have given expert opinions for matrimonial arbitrations at the advisor level. The typical value is 1-3% of BV. Biggest problem is transferring the goodwill - the seller will need to be available for a period of time post sale to smooth rough conversations with the client and the new advisor.

reply by an intermediary 3mos ago
from Acadia University in Halifax, NS, Canada

Same with me, experienced in valuations of IA books. Note there is big difference between the bank advisor books and independent firms. Each bank has a defined process to transfer/price/fund the sale of the client relationships (the bank owns the book, is their view), so it is very difficult for a non-advisor to become owner in those bank IA shops. Outside the banks, a different story and as Caroline wrote, they key is transition from the selling advisor.