Pinnacle Wealth buys exempt market rival

Pinnacle Wealth Brokers has announced the acquisition of Global Exempt Market Solutions, its closest competitor in the exempt market. The deal brings together over 80 dealing representatives, making Pinnacle the largest exempt market brokerage in Canada.

“We are delighted to have them join forces with us,” said Darvin Zurfluh, CEO and founder of Pinnacle Wealth Brokers. “We are the 2 groups that were first out of the gates with a brokerage that offered various 3rd party exempt market opportunities to the public investor.”

The firm offers alternative investments under National Instrument 31-103, which allows investors access to private offerings generally not available on the public stock markets.

“Our partnership creates one of the most sophisticated organizations of its kind in the exempt market sector,” explains Global Exempt Market Solutions’ CEO, Rick Unrau, “and we will be able to provide services, efficiencies, products, and geographic diversification to both our agents and clients, unparalleled in the marketplace.”

The acquisition of Global Exempt Market Solutions follows an earlier deal that brought research firm Exempt Analyst under the Pinnacle banner.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.