TORONTO, May 20, 2020 (Canada NewsWire via COMTEX) -- Canaccord Genuity Group Inc. /zigman2/quotes/202878534/delayed CA:CF +3.79% is pleased to announce that Canaccord Genuity Wealth Management has been selected by Morgan Stanley as its Canadian platform provider to support the entry of Morgan Stanley Wealth Management into Canada.
Canaccord Genuity will deliver a suite of wealth management solutions and technology, as well as custody and clearing services to Morgan Stanley Wealth Management Canada. Canaccord Genuity will also support the deployment of a self-directed on-line investing platform and portfolio management advisory solutions.
Canaccord Genuity has been a long-standing partner with Shareworks by Morgan Stanley, which offers stock plan consulting and administrative services to more than 350 Canadian companies comprising 70% of the companies listed on the TSX60. This represents more than 275,000 Canadian stock plan participants who hold more than US$17.5 billion in assets.
"We are very pleased to provide the platform for Morgan Stanley in the launch of their Canadian offering," said Stuart Raftus, President of Canaccord Genuity Wealth Management in Canada. "It's a testament to the depth and breadth of Canaccord Genuity's capabilities, platform, and suite of services, which includes a wide range of wealth management solutions as well as custody and clearing services. We look forward to expanding our partnership with Morgan Stanley in support of this new venture."
Morgan Stanley's wealth management offering in Canada will include full-service Financial Advisors, virtual Financial Advisors, a discount self-directed investing solution and online investment management.
Brian McDonald, Head of Morgan Stanley at Work, said, "The creation of Morgan Stanley Wealth Management Canada will add wealth management services to our comprehensive suite of workplace financial solutions. Taken together, these solutions will help to maintain and strengthen the competitiveness of Canadian companies by meeting the breadth of their employees' needs."
Laura Adams, Head of Institutional Distribution in Canada and Morgan Stanley Wealth Management Canada, said, "Morgan Stanley's leading US wealth management platform has over $2.4 trillion in assets under management and is supported by more than 15,000 financial advisors. We're excited to expand our wealth management footprint into Canada with a solution that's tailored to the Canadian market."
Greg Gatesman, Co-Head of International Wealth Management at Morgan Stanley, noted, "We are pleased to have Canaccord Genuity as our platform provider, delivering a suite of clearing, custody and wealth management solutions."
ABOUT CANACCORD GENUITY WEALTH MANAGEMENT
The wealth management operations of the Canaccord Genuity group (Canaccord Genuity Wealth Management) provide comprehensive wealth management solutions and brokerage services to individual investors, private clients, charities and intermediaries through a full suite of services tailored to the needs of clients in each of its markets. Canaccord Genuity Wealth Management has Investment Advisors (IAs) and professionals in Canada, the UK, Jersey, Guernsey, the Isle of Man and Australia and has advisors in Canada who are registered in the U.S. We are driven by your success.
Since 2016, Canaccord Genuity has materially invested to support the growth of its wealth management businesses in all geographies. As a result of this growth, client assets have more than doubled to over C$70 billion, and Canaccord Genuity Wealth Management has become a stable and significant contributor to firmwide profitability and earnings.
ABOUT CANACCORD GENUITY GROUP INC.
Canaccord Genuity Group Inc. /zigman2/quotes/202878534/delayed CA:CF +3.79% is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the Company has been driven by an unwavering commitment to building lasting client relationships. It achieves this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The Company has wealth management offices located in Canada, the UK, Guernsey, Jersey, the Isle of Man and Australia. Canaccord Genuity, the international capital markets division, operates in North America, UK & Europe, Asia, Australia and the Middle East.
ABOUT MORGAN STANLEY
Morgan Stanley /zigman2/quotes/209104354/composite MS +0.38% is a leading global financial services firm providing investment banking, securities, investment management and wealth management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals.
SOURCE Canaccord Genuity Group Inc.
View original content: http://www.newswire.ca/en/releases/archive/May2020/20/c1321.html
SOURCE: Canaccord Genuity Group Inc.
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