Wellington-Altus raises financing to recruit new wealth advisors

Independent wealth manger Wellington-Altus Financial Inc. has raised $40-million in new financing, as it continues an aggressive recruitment strategy intended to attract high-end adviser teams from competitors.

The Winnipeg-based investment firm – which manages about $28-billion in assets – announced on Thursday that Cynosure Group has injected $40-million into the company, in a second-round growth equity investment. This brings Cynosure’s minority stake in Wellington-Altus to 15 per cent.

In 2021, Cynosure joined with Jessiman Family Investment to put $85-million into Wellington-Altus, and received board seats. Jessiman invested $45-million, and Cynosure added $40.-million.

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