Manulife Financial has launched Manulife Private Wealth, an offering combining investment management, private banking and advisory services for high net worth clients in Canada.

The launch includes the opening of the private wealth arm’s first branch in Toronto, with a Vancouver branch scheduled for next year.

The offering will use Manulife Asset Management’s institutional investment products across asset classes and investment styles, the firm said. An investment counselor will work with each client to build an investment portfolio, while a private banker will offer cash management and credit facilities.

"This new offering is designed as a collaborative service model allowing clients to retain existing trusted advisors, benefiting from their expertise and active participation in the relationship, while gaining consolidated investment management and private banking services,” said Bernard Letendre, VP and managing director, Manulife Private Wealth.

Manulife’s asset management business had assets under management of $218 billion as of June 30, 2012. It has offices in the US, Canada, the UK, Japan, Hong Kong, Singapore, Taiwan, Indonesia, Thailand, Vietnam, Malaysia and the Philippines, as well as a joint venture in China.