Canadian wealth manager Canaccord Genuity Group has made a strategic investment in Family Office Networks (FON), a community of family offices offering investment opportunities to wealthy families. Investment details were not revealed.
The agreement is said to be mutually beneficial. On one hand, it will support the enhancement of FON’s family office service platform.
On the other hand, it will offer Canaccord Genuity more exposure to the family office sector.
Canaccord Genuity global head of sales and trading Mark Whaling said: “The family office industry is an important constituency for us and we continually seek new ways to serve this valued community.
“Family Office Networks will be a trusted partner as we move forward with exciting new initiatives to meet the growing needs of global family offices.”
FON offers affluent families access to opportunities in real estate, venture capital, private equity, and hedge funds.
It offers updates on a range of topics covering portfolio management, philanthropy, multi-generational wealth management, compliance, and insurance.
FON founder and CEO Andrew Schneider said: “The number of global family offices has grown from a few thousand to more than 15,000 globally and today more than ever they seek trusted partners to help them navigate the complexities related to investing, philanthropy, technology, family education and related topics.
“That’s where we believe Family Office Networks excels. Through our technology platform, newsletters, website and events we support families on all aspects related to growing and preserving wealth, including access to good deal flow.”