Canaccord Genuity Group Inc. reported net income of $28.9 million for the quarter ended Sept. 30, a rise from $3.5 million for the same period last year.
The Vancouver-based firm reported earnings per common share of 27 cents, compared with 1 cent last year, a release said.
Its North American wealth management division reported net income of $7.7 million for the second quarter of its 2019 fiscal year, ending Sept. 30. The assets under administration in Canada were $19.7 billion on Sept. 30, a rise of 54.3% from last year.
The division had 150 advisory teams at the end of September, an increase of six teams from the previous year.
“Since 2016, we have welcomed 35 advisors and approximately $7.6 billion in new client assets,” said Dan Daviau, president and CEO of Canaccord Genuity, in a release.”