Canaccord Genuity Buys EFG Harris Allday Wealth Business

Canaccord Genuity Group Inc. is significantly expanding its UK wealth management capabilities through the acquisition of the client assets and front-office teams of EFG Harris Allday. This strategic move, executed via Canaccord's UK and Crown Dependencies wealth management arm, signals a concerted effort to deepen its presence in the affluent client segment, particularly within the Midlands region.

The acquired business, formerly a division of EFG Private Bank (part of EFG International), manages approximately £3.1 billion in client assets. In the fiscal year ending December 31, 2025, EFG Harris Allday generated annual revenues of £20.3 million, underscoring its established client base and revenue-generating capacity. This transaction is expected to enhance Canaccord Wealth's integrated service offering and solidify its standing as a prominent wealth manager across the United Kingdom.

David Esfandi, CEO of Canaccord Wealth (UK), expressed enthusiasm for the integration, highlighting the shared commitment to client service excellence. "We are delighted to welcome the talented professionals from EFG Harris Allday, who share our ambition to deliver the very best client service and outcomes," Esfandi stated. "This acquisition is a strong strategic fit, adding to our established teams and capabilities while also expanding our footprint across the Midlands with the addition of a new office in Shrewsbury."

The integration is anticipated to provide significant benefits for both advisors and clients. Advisors will gain access to enhanced resources and a broader operational infrastructure, while clients will experience a more comprehensive suite of wealth planning advice and investment solutions. The addition of EFG Harris Allday's teams in Birmingham and Shrewsbury will extend Canaccord Wealth's geographical reach, allowing for more localized client engagement and support.

This acquisition aligns with broader trends in the UK wealth management sector, where consolidation continues as firms seek scale and enhanced service offerings to meet evolving client demands. The market for affluent and high-net-worth individuals remains competitive, with a growing emphasis on holistic financial planning and personalized investment strategies. Canaccord Genuity's move positions it to capture a larger share of this valuable market segment.

The transaction is subject to the satisfaction of standard closing conditions and regulatory approvals. Parties anticipate the deal will be finalized in the latter half of 2026. This development follows a period of strategic growth for Canaccord Genuity Group Inc., a diversified financial services firm with operations spanning wealth management and capital markets globally.