Echelon Wealth Partners Inc. and PI Financial Corp. announce merger

TORONTO – Echelon Wealth Partners Inc. and PI Financial Corp. say they are merging to create an investment advisory, wealth management and capital markets firm with more than $12 billion in client assets.

In a press release Tuesday, the companies say the combined firm will be the second-largest such franchise among non-bank capital markets firms in Canada.

The two firms say they have applied for regulatory approval that would result in common ownership as of April 1, and the amalgamation of operations would be complete in early 2024.

The resulting amalgamated company would have more than 550 employees, including more than 200 investment advisers.

Vancouver-based PI Financial is an independent investment dealer

Echelon is an independent wealth management and capital markets firm based in Toronto.

This report by The Canadian Press was first published March 7, 2023.