The Canada-based firm has deepened its involvement with the Australian wealth management market.

Canada-based Canaccord Genuity has completed its previously announced acquisition of an additional near-third (30 per cent) of the shares in its Australian capital markets and wealth management business.

The transaction takes the ownership stake up to 80 per cent from 50 per cent, Canaccord Genuity said.

The Toronto-listed parent group has wealth management offices located in Canada, the UK, Guernsey, Jersey, the Isle of Man, and Australia. 

Canaccord Genuity Wealth Management North America reported a 26.7 per cent rise in revenue before taxes for the three months ending on June 30. Revenue before taxes for the period came in at C$46.8 million ($36 million). Assets under administration in Canada were C$18.9 billion as at June 30, an increase of 49.3 per cent from C$12.7 billion in the same period last year.