Canaccord Genuity Group is to acquire financial planning firm Intelligent Capital through its wealth management business in the UK and Crown Dependencies CGWM UK.

The transaction is part of CGWM's strategy of investing in the growth and success of its wealth management business while continuing to increase the scale of its financial planning capacity.

Founded in 1999, Intelligent Capital is a financial planning business based in Glasgow with £220m in client assets.

Upon completion, the professionals and clients of Intelligent Capital will operate under the Adam & Company brand, which represents the Scottish operating business of CGWM UK.

CGWM said Intelligent Capital's core client proposition will "remain unchanged, and their financial planners will be fully supported in continuing to directly manage their client relationships".

CGWM UK chief executive David Esfandi said: "We have had an excellent experience since entering the important Scottish market in 2021, and the addition of a new office in Glasgow gives us more expertise in the region to meet the growing demand for our outstanding integrated wealth management offering."

Intelligent Capital's largest shareholder and current managing director David Bremner will join the executive leadership team of Adam & Company as head of wealth management for Glasgow.

He will continue to actively manage the business with a focus on supporting a successful integration for employees and clients, while working closely with CGWM director of wealth planning Matt Phillips and head of Adam & Company wealth management Graham Storrie.  

Bremner said: "We have always had a strong vision for the future of Intelligent Capital and from our earliest conversations, we found that Canaccord Genuity and Adam & Company were completely aligned with our values and our commitment to high ethics and client service standards.

"I look forward to beginning this next chapter with a leading Scottish brand and being able to offer our existing and future clients an elevated financial planning experience."

The acquisition, subject to regulatory approval, should be completed by the end of March next year.