Wellington West Holdings Inc. announces agreement to purchase Brownstone
Investment Planning Inc.

    Acquisition deepens financial planning capabilities and broadens network
    for subsidiary, Wellington West Financial Services Inc.

WINNIPEG, Sept. 29 /CNW/ - Wellington West Holdings Inc. ("Wellington West"), a privately owned financial services firm, today announced an agreement with Brownstone Investment Planning Inc. ("Brownstone") to purchase the privately-held, Winnipeg-based financial planning firm.

The acquisition, part of Wellington West's overall growth strategy, enhances the firm's financial planning capabilities and ability to deliver expert wealth and financial planning services to clients nationally.

"We were truly impressed at the calibre of people and expertise at Brownstone," said Wade Lawrence, President, Wellington West Financial Services Inc. "We look forward to welcoming them to the Wellington West family. Acquiring Brownstone will strengthen Wellington West's overall financial planning offering, providing us further opportunity to expand our client relationships across the country. We are looking forward to delivering even more first-class client service and personal attention to our new clients - it's what we are known for."

"Joining Wellington West will further enable our financial planning professionals to continue to deliver the highest levels of planning expertise to our clients," said Mr. Murray Kipling, President, Brownstone. "We are excited about the opportunity to join this award-winning organization."

"This acquisition will allow us to do more of what we do best," said Kish Kapoor, President, Wellington West Holdings Inc. "We continue to build and position ourselves for future growth."

The acquisition is expected to close by October 31, 2009, subject to regulatory approval, at which time Brownstone will operate as part of Wellington West Financial Services Inc.

About Wellington West

The Wellington West group of companies provides full-service brokerage, financial planning, asset management and capital markets services. In the 16 years since its inception, Wellington West has become one of the fastest-growing independent full-service wealth management firms in Canada with approximately $8 billion in assets under administration. The majority of the shares are owned by employees. In 2008, National Bank Financial Group acquired a minority interest in the company.

Among its many corporate achievements, Wellington West has ranked among the top 50 Best Employers in Canada for the past four years and re-qualified as one of Canada's 50 Best Managed Companies for the past three years. In addition, for six consecutive years, Wellington West has ranked in the top 3 firms in the country in the Investment Executive Brokerage Report Card survey. For further information visit www.wellingtonwest.com

About Brownstone

Brownstone Investment Planning Inc. is a privately-held, financial planning firm, with offices in Calgary, Toronto and Winnipeg. It provides independent and comprehensive financial planning and investment services to groups, corporations and individuals. For further information visit www.brownstone.ca


For further information: For further information: Media Enquiries: Lindsey Rusche, Manager, Corporate Communications, Wellington West Holdings Inc., T: (416) 313-3094, lrusche@wellwest.ca

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