There was also a rise in the wealth arm's revenue and income before tax during Q4 2018.

Canaccord Genuity Wealth Management logged a 17.7 per cent rise in its assets under administration in North America during the three months to the end of March this year from a year before.

It increased from C$13.2 billion ($10.2 billion) in 2017 to C$15.6 billion at March 31, 2018. There was also an increase from Q3 2018, a 7.7 per cent rise from C$14.5 billion. The North American segment generated C$51.5 million in revenue in Q4 2018, and recorded net income before taxes of C$8.5 million.

The firm reported 142 advisory teams at the end of fiscal Q4 2018, an increase of one advisory team from March 31, 2017 and an increase of eight advisory teams from December 31, 2017.

Globally, Canaccord’s wealth arm logged C$117.6 million in revenue during Q4 2018.

"Fiscal 2018 was a pivotal year for our organization as we achieved our strategic goal of significantly increasing contributions from our global wealth management operations, while we continued to extract greater value from our global capital markets platform," said Dan Daviau, president and chief executive of Canaccord Genuity Group. "We delivered robust earnings growth and made excellent progress on our strategy of building a leading independent investment bank and wealth management firm, with disciplined expense management and stronger recurring revenue contributions."