The consolidation of small, independent investment dealers is continuing with Vancouver-based Sora Group Wealth Advisors Inc. selling out to another independent firm, Toronto-based Integral Wealth Securities Ltd.

In a notice Tuesday, the Investment Industry Regulatory Organization of Canada (IIROC) indicates that Sora Group intends to resign its membership in the self-regulatory organization, and that the resignation process has started.

Last week, Integral Wealth Securities announced that it had acquired Sora Group’s branches. As a result, four advisors that collectively administer approximately $250 million in client assets will be joining Integral. The branches are located in Vancouver and Sydney, B.C.

“In terms of practice style, culture and location the Sora teams are an excellent fit for us and vice versa, so it’s a positive development for all concerned. Supporting these teams and helping them further build out their established practices aligns well with our capabilities. Given the deep linkages across the west, we also expect our expanded B.C. footprint should, over time, generate revenue synergies with our Alberta operations based in Calgary,” said John Gibson, Integral’s CEO, in a statement announcing the deal.

“Independent investment dealers face some of the most challenging operating conditions seen in a generation, forcing all firms to take a hard look at the sustainability of their business model,” Gibson said. “This transaction is another in an emerging industry trend of consolidation. Sora’s management concluded that their shareholders, advisors and clients would be best served by migrating their advisors to Integral’s stable operating platform.”