GMP Capital is planning to take its ownership of Canadian wealth manager Richardson GMP to 100 per cent by 2014, a report by Reuters shows.

In order to do this, GMP Capital will reportedly try to buy out the stakes belonging to the billionaire Richardson family, as well as the minority shareholders who own about 30 per cent of the company. At present, GMP Capital owns almost 35 per cent, while James Richardson & Sons holds about the same percentage. GMP Capital and Richardson Partners Financial merged their respective private wealth management businesses in 2009 to create Richardson GMP.

"At that point (2014), we'll be a pretty interesting company, with diversified holdings in capital markets, investment management and wealth management, with strength in Canada but with growth around the world," said Andrew Marsh, the chief executive of Richardson GMP, in an interview with the publication.

Richardson GMP specializes in services dedicated to high net worth investors.