New Canadian Wealth Management Firm Formed with $2.3 Billion in Assets

Sonance Financial Inc., a new Canadian wealth management firm, was launched with $2.3 billion in client assets under management. The firm was created through the consolidation of four independent advisory firms and is controlled by Trivest Partners LP, a U.S. private equity firm. Sonance Financial operates as a registered portfolio manager under a fiduciary standard.

The formation of Sonance Financial reflects growing interest from U.S. private equity in the Canadian wealth management sector. The firm's structure, which mirrors the U.S. registered investment advisor model, signals a shift in how high-net-worth client services are being capitalized and managed in Canada.