T.E. Investment Counsel Inc., the wholly owned investment counselling subsidiary of T.E. Financial Consultants Ltd.’s has purchased the investment advisory practice of KPMG Investment Advisors Inc., a wholly owned subsidiary of KPMG LLP. Terms of the deal were not disclosed.

T.E. Investment Counsel specializes in providing investment management services to high net-worth clients.T.E. Financial is Canada’s largest fee-only financial planners.

“It is not often that such a perfect fit is found. Like KPMG, we strongly believe in the multi-manager approach to minimizing risk and maximizing return. In addition, our strict adherence to the fee-only way of providing advice free of any commissions or third party payments will enable us to maintain complete objectivity in our new relationships,” said Tim Egan, TE’s president and founder.