CU CUMIS Wealth Holdings LP and Desjardins Group on Tuesday announced the closing of the merger of the businesses of Credential Financial Inc., Qtrade Canada Inc. and NEI Investments to create Aviso Wealth Inc.
Aviso Wealth has more than $55 billion in assets under administration and management, making it one of Canada’s largest independent wealth management firms.
The combined organization will serve the wealth management needs of virtually all of Canada’s credit unions with a network of thousands of advisors, and has more than 500,000 clients across the country.
“Today marks an exciting day for our credit union partners, members and investors nationwide, with the official launch of Aviso Wealth,” says Bill Packham, president and CEO of Aviso Wealth, in a statement. “Combining the strengths of all three successful firms, Aviso Wealth provides Canadian investors with a differentiated client experience — offering a full suite of wealth products and services for all stages of the wealth life cycle.”
“The formation of Aviso Wealth is exciting news for credit unions in Canada. We firmly believe that the new vertically integrated entity will be better positioned to adapt to market and regulatory changes. Aviso Wealth will cultivate a client-centric service experience that puts member needs first, resulting in an enhanced wealth management experience to credit unions and their members,” adds Garth Manness, chairman of Aviso Wealth, in a statement.
Qtrade, Credential and NEI Investments announce merger