In another measure aimed at vulnerable Canadians, the CRA will pilot automatic tax filing in 2024
Net income for wealth management was down 12% from a year ago
Net income for global wealth management was down 7% from the previous year
Canadian wealth management revenue dropped 4.6%, and AUM was down 3.9%
AUM dropped 5.9%, net outflows in retail wealth management were $1.6 billion year over year
The result beat expectations
Assets under management dropped 8% in 2022
The deal comes as Canaccord's management looks to take the firm private
Special committee of board members has reservations about the offer
In wealth management, commission revenue was negatively affected by market performance, lower client activity