Harbourfront crosses US$16.9B after buying Galliant Advisors

What's the deal? Harbourfront Wealth ManagementDealroom has a profile for this one. Try Dealroom → has acquired Galliant AdvisorsDealroom has a profile for this one. Try Dealroom →, pushing the Canadian firm's assets under administration past US$16.9B. Terms were not disclosed.

What's the endgame? The acquisition expands Harbourfront's national wealth management platform, adding Galliant's team and client base. Galliant will gain access to Harbourfront's infrastructure and scale.

Why it matters? "Harbourfront Wealth offers the independence, infrastructure and scale needed to support the next stage of our growth, while allowing us to remain focused on client outcomes," said Ian Shaffer, president and chief investment officer of Galliant.

For Galliant clients, the deal means continued access to the same team and investment process, now backed by a larger platform, according to Shaffer.

The signal: The deal reflects ongoing consolidation in Canadian wealth management, as independent advisory firms seek the scale and infrastructure of larger platforms to keep growing.

Read more: financialpost.com

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