Investments  

Canaccord Genuity buys Midlands adviser

Canaccord Genuity buys Midlands adviser

Canaccord Genuity Wealth Management has bought the Worcester-based financial advice firm McCarthy Taylor.

McCarthy Taylor was founded in 1998, and offers both financial advice and discretionary investment management services. It has assets under management of £171m.

Paul Taylor, the founder, chief executive and majority shareholder of the firm, will remain with the business for a transition period.

Canaccord Genuity Wealth Management is a subsidiary of Canaccord, a Canadian wealth management firm listed on the Toronto Stock Exchange.

It was established in the UK and Europe when the group acquired Collins Stewart Hawkpoint plc and Eden Financial in 2012.

David Esfandi, chief executive of Canaccord Genuity UK, said: "The acquisition of McCarthy Taylor represents an opportunity to expand our Midlands presence and creates a regional financial planning centre of excellence, which will be fully supported by our broader UK team.

"Together we share an unwavering commitment to expanding our offering of best-in-class fully integrated investment management and wealth planning services to discerning investors across the UK."

Mr Taylor said: "I am confident that joining Canaccord Genuity Wealth Management will bring significant benefits for our clients and our employees as we expand our services and opportunities.

"I look forward to working with our new colleagues to leverage our complementary resources and expertise and build upon the success that we have built for our business over 21 years in the Midlands."

david.thorpe@ft.com