Abbotsford, B.C.-based investment dealer, Graydon Elliott Capitol Corp. has acquired Toronto’s GlobeInvest Capital Management Inc.

Stratica Wealth Management Inc., a subsidiary of Graydon Elliott’s parent company acquired the boutique-styleToronto investment counsel firm on Tuesday.

GlobeInvest had been owned and operated by Wendy Sanita and Peter Brieger. Brieger will remain the firm’s chairman and chief investment officer and Sanita will remain vice president of client relations and administration. Both remain shareholders in the company.

This acquisition represents the first expansion of the Graydon Elliott group of companies into Eastern Canada. Graydon Elliott president and CEO, Rodney Gelineau, said the company plans additional expansions and investment in its wealth management business through Stratica Wealth Management.

“This is yet another step in developing the full range of investment opportunities for our clients as well as fulfilling our corporate mandate to provide our advisors with ways to hybridize their business,” Gelineau said in a news release.

Stratica president Gary Fribance, said that in addition to growing the investment counsel business of GlobeInvest, Stratica will also develop programs to bring GlobeInvest’s investment management services to Graydon Elliott’s clients across Canada. “The hallmark of GlobeInvest’s investment counsel service is that it is objective, independent, professional and personal, ” Fribance said. “The business is also not commission driven; the sole focus is on the investment performance for the firm’s clients”.

GlobeInvest’s services will be one of many offered to Graydon Elliott’s clients through Stratica. In addition to the changes in ownership, Brieger said plans are underway to add several other portfolio managers to the firm who will bring depth to the current portfolio management and provide long-term continuity for clients.