Canaccord Genuity Wealth Management (CGWM) has completed the acquisition of Harris Allday, a Midlands-based wealth management firm headquartered in Birmingham, according to a statement from the company.
Acquisition Details and Financial Impact
The deal, announced on 27 February 2025, adds approximately £1.2 billion in assets under management (AUM) to CGWM's UK operations. Harris Allday, which was established in 1976, manages around £1.2 billion in client assets and employs 80 staff across its offices in Birmingham, Sutton Coldfield, Walsall, and Worcester.
Financial terms of the transaction were not disclosed. The acquisition is expected to close in the second quarter of 2025, subject to regulatory approval.
Strategic Rationale and Market Position
CGWM stated that the acquisition strengthens its presence in the Midlands region, a key area for growth in the UK wealth management market. The firm already has offices in London, Manchester, Edinburgh, and Guernsey.
“This acquisition is a significant step in our UK growth strategy, adding a high-quality business with a strong reputation in the Midlands,” said David Esfandi, CEO of Canaccord Genuity Wealth Management UK. “Harris Allday shares our client-first approach and commitment to delivering tailored investment solutions.”
Leadership and Client Impact
Harris Allday's management team, including CEO Mark Harris and Chairman John Allday, will remain with the business post-acquisition. The firm will continue to operate under the Harris Allday brand for an initial period before being fully integrated into CGWM.
“Joining Canaccord Genuity gives us access to greater resources, a broader investment platform, and enhanced capabilities to serve our clients,” said Mark Harris, CEO of Harris Allday. “Our clients will benefit from an expanded range of services while retaining the personal service they have come to expect.”
Industry Context and Future Outlook
The acquisition reflects ongoing consolidation in the UK wealth management sector, where larger firms seek to acquire regional players to scale operations and broaden client reach. CGWM has been active in M&A, having previously acquired UK wealth manager Adam & Company in 2022.
Harris Allday's client base includes private individuals, families, and trusts, with a focus on discretionary portfolio management and financial planning. The combined entity will have over £12 billion in AUM across the UK, the firm reported.
