Winnipeg-based Wellington-Altus Private Wealth Inc.’s clients will have preferred access to new issues from INFOR Financial Inc., a Toronto-based independent investment bank.
The two firms announced the “strategic arrangement” in a news release on Friday. Under the arrangement, INFOR will contact Wellington-Altus about new issues before it contacts other investment dealers, according to a spokesperson for Wellington-Altus.
In exchange, INFOR will expand its access to capital through Wellington-Altus’s approximately $10 billion in assets under administration (AUA).
This is not the first time INFOR has entered into a strategic arrangement. In June, INFOR announced a similar arrangement with Toronto-based online brokerage Questrade Inc.
“With demand for retail brokerage services in Canada gravitating to either low-cost execution or high-end advisory services, INFOR Financial believes it has partnered with the two companies in Canada that can best leverage their leading positions and capture market share in those growing segments,” the release read.
By partnering with Wellington-Altus and Questrade, INFOR’s corporate clients now have access to an additional $20 billion in AUA, according to the release.