PI Financial Corp. said Tuesday it has agreed to acquire the client accounts of investment dealer Union Securities Ltd. Both firms are based in Vancouver.

In addition to acquiring Union’s client accounts, 60 Union investment advisors, who currently serve these clients, will be joining PI Financial.

Following closing, expected in October the Union investment advisors will join PI Financial’s private client services division which will total about 150 advisors in six offices in Vancouver, Victoria, Calgary, Regina, Winnipeg and Toronto.

Financial terms of the deal were not disclosed.

The acquisition is part of PI Financial’s continued strategic focus on the growth of its operations and is the firm’s second transaction of this nature. The firm acquired 12 investment advisors from Gateway Securities in 2009.

“This acquisition reflects PI’s commitment to expanding our business, even in this challenging market environment,” said Max Meier, chairman & CEO of PI Financial. “Our strong financial position allows us to complete transactions of this nature and we are confident that Union’s clients and investment advisors will benefit from being with our firm.”

The firm provides a full range of investment products and services to over 20,000 individual, corporate and institutional investors. It is 75% employee-owned, and 25% owned by National Bank Financial.