Financial services company OneDigital has invested in PWL Capital, an independent wealth management firm based in Montreal, Canada.
This marks OneDigital’s foray into the international market, aiming to bring its client-focused fiduciary structure to Canadian clientele.
PWL Capital, established in 1996, offers customised wealth management and financial planning services to over 2,300 client families throughout Canada.
With a presence in Ottawa, Montreal, and Toronto, the firm oversees around C$5.5bn ($3.82bn) in client assets.
PWL will adopt the OneDigital brand while maintaining its status as an independent subsidiary.
PWL Capital CEO Cameron Passmore said: “Our vision is to create a company that doesn’t exist today—a company built from the ground up with one clear purpose: to deliver great financial advice to nice, busy people with serious financial objectives.
“This vision means one purpose, one team, and one philosophy working together to transform the financial advisory experience for Canadians.”
This move will help PWL harness OneDigital’s broad range of resources and capabilities to further improve its services.
PWL’s team, comprising over 70 individuals, including more than 25 seasoned investment advisors registered with the Canadian Investment Regulatory Organization, will continue to serve clients from various sectors.
This venture lays the groundwork for OneDigital’s sustained growth into Canada, with intentions to invest in additional opportunities within employee benefits, property and casualty insurance, and workplace consulting solutions, as well as to form partnerships with other organisations starting in 2025.
OneDigital co-founder and chief growth officer Mike Sullivan said: “This is a consequential investment for OneDigital as we make our first move into the Canadian market, partnering with a group that has a shared commitment to delivering investments and financial planning solutions centered around our client’s needs.
“PWL brings an exceptional team with deep expertise in wealth management, making them the perfect partner as we expand our footprint internationally.”
In 2022, OneDigital subsidiary OneDigital Investment Advisors acquired KB Financial Partners and KB Financial Advisory Partners.
“OneDigital invests in Canadian wealth manager PWL Capital” was originally created and published by Private Banker International, a GlobalData owned brand.
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