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Toronto-based Canaccord Genuity Group Inc. announced its financial results on Tuesday for the fourth quarter and fiscal year ended March 31, 2020.

The firm reported diluted earnings per share of $0.17, compared to $0.23 in the previous quarter and $0.12 in the same quarter last year. (Figures exclude significant items.)

“Despite the unprecedented market turmoil in our fourth fiscal quarter, we achieved a solid quarterly result, which contributed to a strong financial performance for fiscal 2020,” said president and CEO Dan Daviau in a release.

For fiscal 2020, diluted earnings per share were $0.81, compared to $0.80 in fiscal 2019.

Total client assets in its global wealth management operations decreased by 7.6% year over year to $60.7 billion.

“This reduction in client assets has been in line with the broader market declines for equities, partially offset by cash and non-equities in client portfolios,” the release said.

At the end of May, total client assets had risen to about $66 billion, reflecting improvements in market prices and net new assets.

Client assets in North America were $18.4 billion as of March 31, 2020, a decrease of 12.1% compared to the previous quarter and a decrease of 10.8% year over year.

As of May 31, 2020, client assets in North America stood at about $21.5 billion as of May 31, 2020. The firm attributed this increase to improvements in market prices and net new assets.

Last month, Canaccord announced its investment in a unified managed account platform to support advisors and portfolio managers in its Canadian wealth management business.

Also last month, Canaccord Genuity Wealth Management announced it will be the Canadian platform partner to support the entry of New York–based Morgan Stanley Wealth Management into Canada.