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Borden Ladner Gervais (BLG) has acquired AUM Law Professional Corp., a firm which specializes in legal and regulatory compliance advice for the asset management industry.

The investment, touted as the first of its kind in five years, will allow Toronto-based BLG to expand and automate its regulatory compliance services to clients as part of its BLG Beyond portfolio of alternative legal services.

“Our clients rely on us to stay ahead of change and help them navigate the complex business landscape,” said John Murphy, national managing partner and CEO, BLG, in a release. “This acquisition, which is the first of note in our sector in several years, is evidence of our commitment to embrace innovation to transform the practice of law and bring new services to our clients as quickly as possible.”

Toronto-based AUM Law, founded in 2009, helps clients in the asset management industry with an array of legal and regulatory compliance obligations for a fixed fee.

“This is an opportunity to expand our platform across Canada and bring our alternative legal services model to new clients as part of BLG, attract the finest talent to our team, and leverage BLG’s investment in technology to further enhance the client experience,” said Kevin Cohen, president, AUM Law, in a release.

“It’s an exciting moment for our firm, our people and our clients.”

Financial terms of the transaction were not disclosed.