Integral Wealth Securities expands in BC, completing asset transaction with Sora Group Wealth Advisors
10 Jun, 2013, 13:21 ET
TORONTO, June 10, 2013 /CNW/ - Integral Wealth Securities Limited (Integral) announced today that it has acquired the branches of Sora Group Wealth Advisors Ltd (Sora). As a result of this asset transaction, two advisor teams comprised of four advisors will be joining Integral. These teams collectively administer approximately $250 million in client assets. The branches are located in Vancouver and in Sydney, BC.
Established in 2003, Integral is an independent, IIROC-licensed investment dealer experiencing growth in its two business lines; wealth management and capital markets. Including its Toronto head office, Integral operates from seven branch locations in Ontario, Alberta and BC. Sora is a Vancouver-based, IIROC-licensed independent dealer that intends, subject to regulatory consents and approval, to surrender its IIROC license and wind up operations on an orderly basis.
John Gibson, Integral's CEO stated "In terms of practice style, culture and location the Sora teams are an excellent fit for us and vice versa, so it's a positive development for all concerned. Supporting these teams and helping them further build out their established practices aligns well with our capabilities. Given the deep linkages across the west, we also expect our expanded BC footprint should, over time, generate revenue synergies with our Alberta operations based in Calgary".
Commenting on industry conditions generally, Gibson added "Independent investment dealers face some of the most challenging operating conditions seen in a generation, forcing all firms to take a hard look at the sustainability of their business model. This transaction is another in an emerging industry trend of consolidation. Sora's management concluded that their shareholders, advisors and clients would be best served by migrating their advisors to Integral's stable operating platform. Integral is very pleased to welcome its new colleagues and clients to our growing operation."
About Integral Wealth Securities Limited
Integral Wealth Securities Limited is a private, independent, IIROC-licenced investment dealer headquartered in Toronto with offices in Calgary, Vancouver, Ottawa, Nanaimo, Sydney and Kitchener. Integral's private client group is comprised of experienced advisors who provide sophisticated wealth management solutions to affluent individuals and families. By prohibiting in-house products, the firm is able to operate an 'open-architecture' organization that fosters objective advice, improved transparency and access to best-in-class products / solutions for its clients.
The firm's capital markets group, Integral Capital Markets, provides financing, strategic advisory, and market making services to emerging companies in three principal sectors: oil + gas, metals + mining and diversified industries. The firm also works closely with institutional and high net worth investors who seek attractive risk adjusted returns through participation in these sectors via new issues or the secondary markets.
SOURCE: Integral Wealth Securities Limited
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Integral Wealth Securities Limited
56 Temperance Street, Suite 900
Toronto, Ontario, M5H 3V5
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