TORONTO, JUNE 10, 2020 – Richardson GMP Limited (Richardson GMP) and Cormark Securities Inc. (Cormark), two of Canada's premier independent financial services firms, today jointly announced a strategic alliance that will result in:
"We have spent the last several months searching for an ideal partner to help us better serve our advisors’ need for high-quality research and unique investment opportunities in key market segments," said Andrew Marsh, President and CEO of Richardson GMP. "In Cormark, we believe we have found that partner. They produce comprehensive research; they have excellent investment ideas and they have an "employee-owned" culture that aligns with ours."
"Together, we have the scale, expertise and depth of talent to become the top choice for Canadians looking for independent firms to meet their wealth management and investment banking needs," added Mr. Marsh. "Cormark covers over 250 companies across all market capitalizations and industry sectors, and has been ranked #1 in Canada by institutional investors. Over the past decade, they have been involved in over 1,000 financings valued at approximately $100 billion and have advised on almost 150 transactions valued at approximately $30 billion."
Commenting on the strategic alliance, Scott Lamacraft, CEO of Cormark said "Richardson GMP is an award-winning firm with over $28 billion in client assets under administration managed by 165 professional investment advisory teams operating out of 20 locations across Canada. We are excited about this new relationship and are confident that the powerful alliance between our firms leverages our respective strengths to dominate and capitalize on the growing opportunities in the fast-changing independent landscape for years to come."
The strategic alliance also contemplates considerable cross-referral opportunities, which will permit each firm to service better their existing clients.
About Richardson GMP
As one of Canada's leading wealth management firms, Richardson GMP provides exclusive and innovative investment solutions to successful families and entrepreneurs across Canada. Since 2010, Richardson GMP has been awarded top rankings in the Investment Executive Brokerage Report Card for products and services dedicated to high net worth investors. Reflecting their commitment to high standards, Richardson GMP has earned certification – determined annually – from the Center for Fiduciary Excellence for their Separately Managed and Portfolio Management Account platforms. For the second consecutive year, Richardson GMP was recognized as one of Canada's Best WorkplacesTM. For further information, please visit our corporate website at www.RichardsonGMP.com.
About Cormark Securities
Founded in 1981, Cormark is Canada’s leading, employee-owned independent investment dealer, advising Canadian and international institutional investors and a wide variety of growth-oriented companies from its offices in Toronto and Calgary. Cormark’s research covers over 250 companies across all market capitalizations and sectors, and is consistently ranked #1 in Canada by institutional investors. In the last 10 years, Cormark has been involved in over 1,000 financings valued at approximately $100 billion and has advised on almost 150 transactions valued at approximately $30 billion. For further information, please visit our corporate website at www.Cormark.com
For further information please contact:
Susan Fry, Vice President, Marketing
145 King Street West, Suite 500, Toronto, Ontario M5H 1J8
Tel: (416) 943-6685
Alfred Avanessy, Managing Director, Head of Investment Banking
200 Bay Street, Suite 1800 Toronto, Ontario M5H 2J2
Tel: (416) 943-6447