Canaccord Genuity Wealth Management (CGWM), is to acquire Thomas Miller Wealth Management Limited (TMWML) and the private client investment management business of Thomas Miller Investment (TMI) (Isle of Man) Limited. 

The deal is subject to regulatory approval and is expected to close in the quarter ended 30 June 2019, the first fiscal quarter of Canaccord Genuity Group’s 2020 fiscal year.

Canaccord Genuity will pay an initial £18.5 million with a further £9.5 million to follow in the next three years subject to meeting certain targets.

The two acquired business had combined client assets of approxima...