Worldsource Securities Inc. is acquiring the client accounts of Toronto-based Brant Securities Ltd.
Fourteen Brant advisors and their client accounts are expected to join Riley Investment Services in Toronto, which operates under the Worldsource umbrella.
“Worldsource and Brant share the same mission, vision and values, which is why we are so excited to announce this transaction. This is a clear signal that there is a need for an independent advisory model, one that focuses on clients’ best interests,” said Doce Tomic, president and chairman of Worldsource, in a statement. “We have already begun working with the Brant management team to ensure a seamless transition for transferring clients.”
The advisors moving to Riley come from Brant’s three offices in Toronto, Halifax and Charlottetown.
“The natural alignment between our businesses and the principles we share made Worldsource the perfect fit,” said Keith McMeekin, president of Brant. “We are taking all the steps required to make our clients’ experience an even better one by moving their accounts to Worldsource.”
Brant Securities was founded in 1919. Terms of the deal, which is expected to close Nov. 12 subject to regulatory approvals, were not disclosed.
Worldsource is based in Markham, Ont. and is a wholly owned subsidiary of Toronto-based Guardian Capital Group Ltd.