The Financial Services Regulatory Authority of Ontario (FSRA) has granted regulatory approval for DeVere Group to launch an office in Canada.
The financial advisory firm will establish DeVere Canada in Toronto’s financial district as part of the group’s wider international expansion strategy to tap into the demand for multi-jurisdiction advice.
Initially the Toronto-based operation will focus on insurance and protection planning while supporting broader international wealth structuring needs for clients with global interests and international exposure.
Canada is viewed as an increasingly attractive destination for globally mobile professionals, entrepreneurs and international capital, the firm said, noting the Greater Toronto area alone generates approximately one-fifth of Canada’s GDP while Toronto is the country’s dominant banking and capital markets hub, reinforcing its growing importance in international wealth management.
Josh Taylor, CFO of DeVere Canada, said Canada represents a strategically important market within the company’s broader international growth strategy.
“Canada sits at the intersection of global capital, migration and wealth creation, making it a highly compelling long-term market for DeVere,” he said.
James Green, DeVere’s regional director, said: “The expansion comes amid major shifts in global wealth patterns, with affluent individuals and families increasingly living, working, investing and retiring across multiple countries.”
He noted global wealth mobility is reaching record levels, with international migration advisers forecasting another surge in high-net-worth migration flows as they increasingly relocate assets, businesses and residency internationally.
“Securing our Ontario licence is a major milestone because it establishes DeVere in one of the world’s most respected financial jurisdictions at a time when international financial planning has never been more important,” he added.
