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Manulife Financial buys Wellington West

By Donna Glasgow | September 14 2012 01:49PM

On Aug. 29, Manulife Financial announced that it will acquire independent financial planning firm Wellington West Financial Services Inc., a dealership registered with the Mutual Funds Dealers Association, from National Bank Financial Group.Natural cultural fit

This deal will add 39 financial advisors and approximately $900 million in assets under administration to its Canadian dealer, Manulife Securities.

“This transaction allows us to build on our position as one of Canada’s premier investment firms and reflects our commitment to independent financial advice in Canada,” said Rick Annaert, SVP and president and CEO, Manulife Securities. “There is a natural cultural fit between our two firms.”

Wellington West provides personal and corporate financial planning services through its network of independent financial advisors in British Columbia, Alberta, Manitoba and Ontario.

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