Bells on Acquisition Shortlist for Canaccord - AFR today

Stockbroker Canaccord Genuity has carved a strong niche in the local market covering a bunch of growth-focused small and mid cap stocks, however plans are afoot to ramp up the business to the next level.Street Talk understands Canaccord's local management has been scouring the wealth management sector for potential deals, keen to be part of the firm's global move into wealth management.Canaccord Genuity helped float Ruslan Kogan's retailer Kogan.com in 2016. . Photo: Ruslan KoganIt is understood Canaccord hired a Melbourne boutique, EM Advisory, last September to map out the Australian marketplace and help identify potential targets.Sources said Canaccord had narrowed it down to a shortlist - and while no decisions had been made there were acquisitions being considered.And Canaccord may end up buying more than one firm.AdvertisementThe move would be expected to be highly complementary to Canaccord, which is a growth equity-focused investment bank and wealth manager overseeing C$62 billion in assets.In Australia, it is best known for its relationships with companies like Kogan.com, Tawana Resources and Think Childcare, and its ability to raise capital quickly and efficiently thanks to its knowledge of funds in the region.What it doesn't have is a big retail base - like some of its rivals such as Bell Potter Securities, Ord Minnett or Morgans.It comes as Canaccord Genuity has been open about bulking up in wealth management globally, and particularly in the United Kingdom and Canada.