Raymond James Ltd. has completed the acquisition of Oak Trust Company, a privately held, federally regulated trust company based in London, Ontario. Following regulatory approval, the new division will be named Raymond James Trust (Canada).
"This acquisition is an important way to broaden our service delivery for Canadian investors and their families who require fiduciary trust services to assist them with a wide range of important needs like estate settlement, trust administration, tax efficient estate planning and power of attorney services," said Paul Allison, chairman & CEO, Raymond James Ltd.
Provides new tools
"It gives our advisors and portfolio managers important new trust services tools which will complement their core wealth management services and further benefit clients with more complex needs."
The acquisition makes Raymond James the first non-bank owned full-service investment dealer in Canada to offer integrated fiduciary trust services.
"We are proud to partner with Raymond James," said William Dodds, chairman of Oak Trust. "As part of a highly respected wealth management firm, we will significantly expand our trust services for the benefit of individuals and families across Canada. Having in-house trust expertise will give Raymond James advisors an important edge to better assist their clients and family members, while maintaining their critical relationships and ongoing support."
