Canada-based Canaccord Genuity Wealth Management has reported that its wealth management operations in the UK and Crown Dependencies generated revenue of CA$125.7m (£67.8m) in the second quarter of 2025.

This represents a 17 per cent year-on-year increase compared to the same period last year and is the sixth consecutive quarter of record revenue in its UK and Crown Dependencies wealth management business.

The firm’s second quarter global wealth management revenue increased by 12.5 per cent year-on-year to CA$242.9m (£131.1m).

In the UK and Crown Dependencies, Canaccord Genuity’s client assets reached a record high of CA$71.6bn (£38.3bn) at the end of June, up by 17.6 per cent year-over-year (or 8.8 per cent in local currency).

It stated that the increase was driven by net new assets from acquisitions, market growth, positive net flows, and foreign exchange movement.

On a sequential basis, its UK and Crown Dependency client assets increased by 3.4 per cent from CA$69.2bn (£37.2bn) from the previous quarter.

Globally, Canaccord Genuity reported an 18.4 per cent year-on-year increase in its wealth management division client assets to a record $125.3bn (£67.6bn).

The firm’s overall advisory revenue fell by 27.1 per cent year-on-year to CA$48.9m (£26.4m), which it said reflected the timing of completions in its US and UK businesses due to the impact of economic uncertainties.

Canaccord Genuity’s investment banking revenue decreased by 4.1 per cent year-on-year to CA$62.4m (£33.7m), although it increased by 55.5 per cent compared to the previous quarter, following an “exceptionally strong performance” in Q2 2024.

In its wealth management operations in the UK and Crown Dependencies, the firm’s net income before taxes and excluding significant items was CA$29.7m (£16m), up by 30.5 per cent year-on-year, while its commissions and fee revenue rose by 21.9 per cent year-on-year to CA$101m (£54.5m).

“We delivered a solid top-line performance for our first fiscal quarter, led by record contributions from our wealth management division,” commented Canaccord Genuity Group chair and CEO, Dan Daviau.

“Elevated trading volumes and a notable improvement in corporate financing activity helped offset a significant decline in advisory completions, which were affected by trade and policy uncertainty impacting smaller-cap companies in our core sectors.

“As we execute effectively for our clients amid improving business conditions, we remain confident in our ability to enhance our firm-wide results and profit margins for the current fiscal year.”

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