Canaccord Genuity Wealth Management has expanded its national footprint with the acquisition of Worcester-based wealth firm McCarthy Taylor.
Founded in 1998, McCarthy Taylor is an independent financial advisory firm headquartered in Worcester with award-winning Chartered Financial Planners serving clients across the Midlands. The firm provides bespoke financial planning and discretionary investment management and manages client assets of approximately £171m.
The value of the deal was not disclosed.
This development further supports the Canaccord strategy of growing its wealth management operations and service offerings. The addition of McCarthy Taylor advances CGWM's objective of expanding its national footprint and broadening its offering of fully integrated investment and wealth planning services.
"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," David Esfandi, head of Canaccord (UK) said.
Paul Taylor, Founder, CEO and majority shareholder of McCarthy Taylor will continue to be actively involved in the business to help facilitate a successful transition to CGWM (UK).
"Today marks an exciting chapter in the evolution of our business, and 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," said Paul Taylor, CEO of McCarthy Taylor. "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."
The buy is CGWM's first purchase since its high profile acquisition of Hargreave Hale in September 2017.