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Canaccord Genuity’s UK wealth business reports 11% AUM rise

5 Aug 16

Canaccord Genuity Wealth Management UK has reported an 11% year-on-year rise in assets under management at the end of its first fiscal quarter.

Canaccord Genuity Wealth Management UK has reported an 11% year-on-year rise in assets under management at the end of its first fiscal quarter.

The wealth manager now looks after £12.9bn (€15.2bn, $16.9bn) of client money in local currency terms across various portfolios.

During the quarter ending 30 June 30 parent company Canaccord Genuity Group, generated $206.2m in revenue. Excluding significant items it recorded net income of $8.1m.

President and chief executive of the group Dan Daviau said: “With the benefit of our recently upgraded platform and a commitment to exceptional client service, I am also pleased to say that our teams successfully managed the elevated trading volumes following the news of the Brexit referendum outcome. This strong franchise continues to deliver stable, recurring revenues and net income for our firm.”

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.