Canaccord Genuity Wealth Management

Canaccord Genuity Wealth Management provides clients with the focused, personalized service that they expect from a local wealth manager, differentiated by the vast resources, expertise and support uniquely available from a global financial institution. We are focused on driving margin growth across our wealth management operations through the sharing of best practices globally, continuously advancing our technological infrastructure and reducing our non-variable costs.

^$60.7_B in total client assets

The value of our client assets declined 17% from their fiscal 2020 peak of $72.8 billion following the abrupt market downturn in March 2020, but we are pleased to be reporting positive inflows in all our geographies, reflecting increased demand for advice-based solutions.

Global Wealth Management

Since 2016, we have materially invested to support the growth of our wealth management businesses in all geographies. As a result of this growth, client assets have increased substantially, and Canaccord Genuity Wealth Management has become a stable and significant contributor to firm-wide profitability and earnings.

Global Wealth Management Revenue⁽¹⁾ (C$ millions, fiscal years ended March 31)

Global Wealth Management Income before Income Taxes⁽¹⁾⁽²⁾ (C$ millions, fiscal years ended March 31)

Global Wealth Management Income before Income Taxes chart

UK & Europe

With more than 70% of revenues derived from recurring, fee-based business, our UK & Europe wealth management business is an important contributor to our firm-wide stability. During fiscal 2020, we continued to expand our national footprint in the UK, while enhancing our financial planning capability with the acquisition of the private client business of Thomas Miller.

UK & Europe Wealth Management Client Assets⁽³⁾ (C$ billions and £ billions, fiscal years ended March 31)

UK & Europe Wealth Management Client Assets chart

UK & Europe Wealth Management Income before Income Taxes⁽²⁾ (C$ millions, fiscal years ended March 31)

UK & Europe Wealth Management Income before Income Taxes chart

Canada

Our continuous improvement initiatives have made CG Wealth Management a very attractive destination for top industry talent as we implement best-in-class technology, tools and solutions to help new and existing advisors grow their businesses. During fiscal 2020, we experienced steady recruiting momentum as we focused on attracting high quality advisors with stable and scalable books of business.

Canada Wealth Management Client Assets⁽³⁾ (C$ billions, fiscal years ended March 31)

Canada Wealth Management Client Assets chart

Canada Wealth Management Income (Loss) before Income Taxes⁽²⁾ (C$ millions, fiscal years ended March 31)

Canada Wealth Management Income (Loss) before Income Taxes chart

Australia

In October 2019, we welcomed Patersons Securities Limited, a premier Australian financial services business with operations in wealth management and capital markets. This development has added significant scale to our wealth management business and given us an expanded national footprint in Australia from which to explore additional growth over time. We have had an excellent experience integrating this team.

Australia Wealth Management Revenue⁽⁴⁾ (C$ millions, fiscal years ended March 31)

Australia Wealth Management Revenue chart

(1) Beginning in Q3/20, amounts include Australia wealth management.
(2) These figures exclude significant items. Figures excluding significant items are non-IFRS measures. See Non-IFRS Measures on page 14 of our MD&A.
(3) Assets under administration, management and management contract.
(4) Australia wealth management revenue was previously recorded as part of Canaccord Genuity Capital Markets Australia. Commencing in Q3/20, it is disclosed as a separate operating segment.