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Toronto-based SP Wealth, a spinoff from Sprott Private Wealth, announced on Tuesday its relaunch and rebranding as Sightline Wealth Management.

The relaunch formalizes the firm’s transition into a full-service wealth management firm — a transition that began following the management-led buyout of the diversified and wealth management businesses from Sprott Inc. in 2017. On its website, Sightline Wealth Management says that SP Wealth was a temporary name as the firm transitioned from Sprott Private Wealth.

Sightline Wealth Management remains a wholly owned subsidiary of Ninepoint Financial Group Inc.

The firm’s relaunch is meant to draw attention to its new independent wealth management business model, says a release, and the new name is “a nod to the importance of a transparent and long-term investment outlook,” it says.