Canaccord Genuity Group has agreed to acquire the front-office teams and client assets of EFG Harris Allday through its UK wealth management business.

EFG Harris Allday currently operates as a division of EFG Private Bank, part of EFG International. The UK wealth management business focuses on affluent clients, with a strong presence across the Midlands.

The team manages approximately £3.1bn in client assets and generated annual revenue of £20.3m in 2025.

Expanding Canaccord’s Midlands presence

Canaccord said the transaction will strengthen its existing wealth management teams and expand its presence across the Midlands. The deal will also add a new office in Shrewsbury to its UK operation.

David Esfandi, chief executive officer of Canaccord Wealth UK, said the acquisition was a strong strategic fit. He highlighted the opportunity to combine EFG Harris Allday’s client relationships and investment expertise with Canaccord’s existing financial planning capabilities.

The transaction will also allow Canaccord to offer its wealth planning services to a broader group of clients across the region.

Combining wealth planning and investment expertise

The acquisition is expected to bring together EFG Harris Allday’s established client relationships with Canaccord’s wider wealth management capabilities.

Advisers will gain access to additional infrastructure and resources. Clients will also have access to a broader range of wealth planning advice and investment solutions.

Canaccord said clients will continue to receive a personalised service while gaining access to its centralised investment process and model portfolios.

The combined service will bring together wealth planning, investment management and other solutions for high-net-worth individuals.

What this means for business owners

The transaction highlights the continued interest from established wealth management groups in expanding their teams, capabilities and regional presence.

For financial planning and wealth management business owners, this type of deal also demonstrates the importance of considering what a buyer can offer beyond the financial terms of a transaction.

A strong client relationship can be an important part of a business’s value. However, owners should also consider how a potential buyer will support those relationships after a transaction.

The right fit may depend on factors such as culture, client service, investment capabilities and the resources available to advisers. Understanding these factors can help owners assess whether a buyer is aligned with their longer-term objectives.

Completion of the transaction is expected in the second half of 2026.

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