The terms of the deal have not been disclosed, and are still subject to approval from the Isle of Man Financial Services Authority.
However, the deal involves about 100 client portfolios with around 62% discretionary and 38% execution only.
Canaccord said the acquisition supports its strategy to grow assets under management, which currently stand at over £14bn ($17bn, €16.3bn) in its UK and European wealth management operations.
The company said no Duncan Lawrie staff will move over as part of the deal.
Growth plan
David Esfandi, chief executive of Canaccord Genuity Wealth Management in the UK & Europe, said: “The acquisition of the Duncan Lawrie client portfolios on the Isle of Man is a great fit for our business, given our similar investment ethos and our synergies in client service.
“It is further proof of our wholehearted commitment to all the jurisdictions in which we operate.
“We have ambitious plans to grow our business and with a strong track record of meeting client needs and with our recent investment in technology and systems, we are well-placed to grow our client base and achieve our business objectives.”
The Canaccord Genuity deal follows purchases by private bank Arbuthnot Lathan and financial advisory firms Brewin Dolphin to buy other parts of the Duncan Lawrie operation as its as its parent, Camellia, departs the private banking industry.
In December, Brewin Dolphin reached an agreement to acquire Duncan Lawrie Asset Management for £28m, while Arbuthnot reportedly paid £42.7m for the Duncan Lawrie loan book.
