Canaccord Genuity

Company Profile

Canaccord Genuity Group is a global financial services firm operating across capital markets and wealth management via Canaccord Genuity Wealth Management (CGWM).

The firm’s international capital markets division is based in Canada, with offices in the US, the UK, France, Germany, Ireland, Hong Kong, China, Singapore, Dubai, Australia and Barbados. CGWM specifically has become one of the top 10 wealth managers in the UK, with offices nationwide, as well as international investment teams and operations in Jersey, Guernsey and the Isle of Man.

CGWM has strengthened its grip on the market with a string of acquisitions and has a firm footing within the UHNW financial services community; it has operated in Jersey and Isle of Man for more than 20 years. It’s now concentrating on organic growth and excellence in client service, increasing its number of offices as well as assets under management – in the UK and Europe, it manages and administers £31.7bn of assets as of 30 September 2023.

History

Founded in 1950 as Hemsworth, Turton & Co, the company was initially a Western Canadian venture capital firm before the future partners of Canaccord acquired it in 1968.

Following a series of acquisitions outside of Canada, including Greig Middleton (Guernsey, Jersey and Isle of Man), Rowan & Company (Guernsey), Natwest Stockbrokers (UK), Cater Allen Stockbrokers (Jersey) and Tilney Investment Management (Isle of Man), in 2004 Canaccord Capital went public on the Toronto Stock Exchange with an initial purchase offering of $70 million.

Between 2004 and 2012 additional acquisitions followed, including that of Insinger de Beaufort (Jersey and Isle of Man), Corazon Capital (Guernsey and Geneva), Andersen Charnley (London), Genuity Capital Markets (Canada), Collins Stewart Hawkpoint (London) and Eden Financial (London). 

The wealth management business was established in the UK and Europe in 2012 and rebranded to Canaccord Genuity Wealth Management in 2013.

Canaccord further expanded through the acquisition of Hargreave Hale in 2018 in a deal worth £79.5 million, bringing assets under management to £24.8 billion. This was followed by acquisitions of Petsky Prunier, Patersons Securities and Sawaya Partners. With the purchase of Adam & Company in 2021, it entered the Scottish investment management market.

More recently, in 2022 it completed the acquisition of Punter Southall Wealth, an integrated wealth management business. 

Canaccord Genuity Wealth Management marked 10 years in the UK and Crown Dependencies in 2022, and at the time noted that AuM had quadrupled in size since launch, employee numbers had increased from around 250 to more than 700, and the number of offices had expanded from five to 14.

Senior leadership

Chairman: Stephen Massey

Chief Executive Officer: David Esfandi

Head of Fund Management: Richard Hallett

Managing Director: Duncan Stratford

Private client services

CGWM offers wealth planning and management – including around retirement, multigenerational wealth transfer, and business exit and succession matters – and investment management services for individuals, business owners, charities and intermediaries.

Its discretionary portfolio management service includes a dedicated US expat investment service for US citizens resident in the UK, including discretionary portfolio management in both US dollars and sterling; dealing in US equity and fixed income markets as well as most global markets; custody in the UK, Guernsey, Jersey or the Isle of Man; and US tax year accounting in dollars.

Specialist portfolio management services include an ESG portfolio service (impact investing with a thematic approach); small-cap investing through a small-cap equity-only portfolio service or as part of a diversified investment portfolio; and fixed income investing via a gilt portfolio service, a fixed interest portfolio service, as part of a diversified investment portfolio or as part of a tailored portfolio of fixed income investments.

Stockbroking forms part of the firm’s personal wealth management offering, and investors can trade in UK equities, including smaller companies, international equities, fixed interest securities, preference shares, investment trusts, offshore funds and more – on an advised or execution-only basis. Its corporate executive and employee trading service provides brokerage solutions for listed companies and their employees – covering option exercises and share trading. Specialist stockbroking services include active equity trading, fixed income trading and institutional dealing.

Canaccord also has access to a wide range of third-party funds, in addition to managing a range of its own in-house funds – something it’s been doing for more than a decade. Its in-house funds include a multi-asset fund of funds (three multi-manager, multi-asset, risk-profiled funds aiming to deliver a range of returns above inflation) and a global equity fund (an actively managed fund comprising stocks and shares in businesses from around the world).

It also has experience looking after charitable organisations, with over £1bn in charity assets under management. A range of different investments are available, including securities, equities, funds, exchange-traded funds, investment trusts, alternatives, bonds and cash.

Locations

UK and Europe: London, Birmingham, Blackpool, Guildford, Lancaster, Llandudno Junction, Newcastle, Norwich, Southampton, Worcester and York; St Helier, Jersey; St Peter Port, Guernsey; and Douglas, Isle of Man

Canada: Vancouver, Toronto, Calgary, Waterloo, Montreal, Edmonton, Winnipeg, Oakville, Halifax, Kelowna

Australia: Melbourne, Sydney, Perth