The reshuffling of wealth management businesses continues with the closing of the sale of Dundee Securities Ltd.’s advisor force to Toronto-based Echelon Wealth Partners Inc.

Toronto-based Dundee Securities on Monday announced it has completed the sale of certain assets of its Dundee Goodman Private Wealth (DGPW) division to the firm formerly known as Euro Pacific Canada, which has since changed its name to Echelon Wealth Partners Inc. Financial terms were not disclosed.

When the deal was originally announced back in January, the firms indicated that 78 investment advisors and their support staffs, representing $3.5 billion in assets under management, would move to Euro Pacific.

The firms now report that 72 advisory teams have completed the move to Echelon, and will remain in their existing offices across the country. “Our former advisors have joined a firm with a similar entrepreneurial, client-focused culture and we wish them all the best,” says Richard McIntyre, executive vice president and head of Dundee Global Investment Management.

Following the sale of these assets, which also included DGPW’s separately managed account program, and certain employees in its fixed income, foreign exchange and insurance businesses, Dundee is now focused on growing other aspects of its wealth management business.

“We remain focused on building a wealth management division that provides integrated and diversified financial products and services focused on the high-net-worth and ultra-high-net-worth markets,” adds McIntyre.

“This transaction builds on our brand as a preeminent independent investment dealer in Canada,” adds Robert Furse, president of Echelon Wealth Partners. “We offer independent advisors looking for professional management, stability, scale, a strong financial base and technologically advanced infrastructure so they can better serve their clients.”

Photo copyright: Bloomberg