Manulife acquires Wellington West Financial

Manulife Financial today announced an agreement to acquire independent financial planning firm Wellington West Financial Services Inc., from National Bank Financial Group. The deal will add 39 financial advisors and approximately $900 million in assets under administration to Manulife Securities.

“There is a natural cultural fit between our two firms. We’re looking forward to serving the needs of Wellington West Financial Services’ clients and financial advisors,” said Rick Annaert, president and CEO of Manulife Securities.

Wellington West Financial Services provides personal and corporate financial planning services through its network of independent financial advisors in British Columbia, Alberta, Manitoba and Ontario.

Financial terms of the deal, expected to close in the fourth quarter of 2012 and is subject to regulatory approval, were not disclosed.