Quebec brokerage continues to extend wealth-management business in Canada. Montreal-based National Bank Financial (NBF) has agreed to acquire Bieber Securities, a Winnipeg-based firm that provides portfolio-management service to high-net-worth individuals and small institutions.

Details of the transaction weren't disclosed.

Third one this year

Bieber has 6 offices in Manitoba and 37 employees. NBF plans to make it part of its retail wealth management business.

NGF says the acquisition of Bieber is in keeping with its continued strategic focus on the growth of its wealth-management platform in key Canadian markets.

Earlier this year NBF acquired Montreal-based retail brokerage Groupe Financier Everest and Aquilon Capital, a Toronto-based investment advisory.

The deal with Bieber, which is "subject to a number of conditions and regulatory approvals," is expected to by the end of June 2008.

NBF is a full-service investment dealer with $123 billion in assets under management. It has 84 wealth-management offices in Canada. It's also a leading provider of third-party brokerage services in the country. -FWR

Purchase reproduction rights to this article.