Surrey, B.C.-based Coast Capital Savings Credit Union and Vancouver-based Qtrade Financial Group have signed a letter of intent to expand their current wealth management relationship, the companies announced on Friday.

The companies will now begin a period of negotiation, which, if successful, will allow Coast Capital to access Qtrade’s dealer and back office support for wealth management services.

The expanded agreement would also further Coast Capital’s relationship with Montreal-based Desjardins Group, which purchased 40% of Qtrade’s shares early this month. In early April, Coast Capital made an agreement with the Quebec-based credit union to share expertise in products and services.

Executives with Qtrade and Coast Capital expect an announcement on the final details of the partnership will be made before the end of the year.

With 504,000 members Coast Capital is the largest credit union in Canada by membership. The credit union has a total of $14.6 billion in assets under administration and operates 50 branches in Vancouver, Fraser Valley and Vancouver Island.

Qtrade provides extensive brokerage and wealth management platforms, services and solutions to Canadian retail clients and the customers of financial institutions.