WELLINGTON-ALTUS BUYING TRIVEST WEALTH COUNSEL AS CONSOLIDATION IN PRIVATE WEALTH ADVISING RAMPS UP
Aiming to solve pressures of increased regulation combined with growing need for financial counselling
Independent wealth advisory
Wellington-Altus is buying TriVest Wealth Counsel Ltd., a Calgary-based
investment management firm, with plans to establish a beachhead for
consolidation of the market segment in which it operates.
Wellington-Altus, which has $8.5 billion in assets under administration, has
already established itself as a consolidator in a larger segment of the wealth
management market overseen by the Investment Industry Regulatory Organization
of Canada. This has included picking up teams and their books of business from
some of the country’s largest banks. The smaller segment TriVest belongs to —
investment counsel portfolio managers, or ICPMs — are provincially regulated by
Click here to read the full article originally featured in the Financial Post on December 11, 2019.