Harbourfront Wealth makes fourth acquisition in just over a year

Harbourfront Wealth Holdings Inc. is taking over Millar Private Wealth Management Inc., an Ottawa-based firm managing $800 million in client assets, it announced on Thursday.

The acquisition brings Vancouver-based Harbourfront Wealth’s total assets under administration (AUA) to $12 billion, it said in a release. It’s also the latest in a string of acquisitions by the firm. 

“We’re thrilled to announce our fourth acquisition in just over a year,” said Danny Popescu, CEO of Harbourfront Wealth, in the release.

“Millar Private Wealth is a strong addition to our independent firm and supports our ongoing plans for accelerated growth and expansion across Canada.”

Originally called the Millar Corporation, Millar Private Wealth was founded in the mid-1980s by the late Jim Millar, who had a “passion for helping families achieve financial security,” the release said.

Fraser Thom, president of the Millar Private Wealth, said the deal would bring access to Harbourfront Wealth’s resources and technology, which “will elevate the effectiveness of our service and allow our team to work even more closely with clients.”

The deal brings nine employees, including two advisors, to Harbourfront Wealth.

Terms of the deal were not disclosed.

Noushin Ziafati

Noushin has been the associate editor of Advisor.ca since 2024. Previously, she worked at outlets including the CBC, Canadian Press, CTV News, Telegraph-Journal and Chronicle Herald. Reach her at noushin@newcom.ca.