Mr. Stuart Raftus reports
CANACCORD GENUITY WEALTH MANAGEMENT SELECTED AS PLATFORM PROVIDER FOR MORGAN STANLEY'S WEALTH MANAGEMENT ENTRY INTO CANADA
Canaccord Genuity Group Inc.'s Canaccord Genuity Wealth Management has been selected by Morgan Stanley as its Canadian platform provider to support the entry of Morgan Stanley Wealth Management into Canada.
Canaccord Genuity will deliver a suite of wealth management solutions and technology, as well as custody and clearing services, to Morgan Stanley Wealth Management Canada. Canaccord Genuity will also support the deployment of a self-directed on-line investing platform and portfolio management advisory solutions.
Canaccord Genuity has been a long-standing partner with Shareworks by Morgan Stanley, which offers stock plan consulting and administrative services to more than 350 Canadian companies comprising 70 per cent of the companies listed on the S&P/TSX 60 Index. These represent more than 275,000 Canadian stock plan participants who hold more than $17.5-billion (U.S.) in assets.
"We are very pleased to provide the platform for Morgan Stanley in the launch of their Canadian offering," said Stuart Raftus, president of Canaccord Genuity Wealth Management in Canada. "It's a testament to the depth and breadth of Canaccord Genuity's capabilities, platform and suite of services, which includes a wide range of wealth management solutions as well as custody and clearing services. We look forward to expanding our partnership with Morgan Stanley in support of this new venture."
Morgan Stanley's wealth management offering in Canada will include full-service financial advisers, virtual financial advisers, a discount self-directed investing solution and on-line investment management.
Brian McDonald, head of Morgan Stanley at Work, said: "The creation of Morgan Stanley Wealth Management Canada will add wealth management services to our comprehensive suite of workplace financial solutions. Taken together, these solutions will help to maintain and strengthen the competitiveness of Canadian companies by meeting the breadth of their employees' needs."
Laura Adams, head of institutional distribution in Canada and Morgan Stanley Wealth Management Canada, said: "Morgan Stanley's leading U.S. wealth management platform has over $2.4-trillion in assets under management and is supported by more than 15,000 financial advisers. We're excited to expand our wealth management footprint into Canada with a solution that's tailored to the Canadian market."
Greg Gatesman, co-head of international wealth management at Morgan Stanley, noted, "We are pleased to have Canaccord Genuity as our platform provider, delivering a suite of clearing, custody and wealth management solutions."
About Canaccord Genuity Group Inc.
Canaccord Genuity Group is a leading independent, full-service financial services firm with operations in two principal segments of the securities industry: wealth management and capital markets.
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