News & Insights

Vancouver-based Harbourfront Wealth Group will acquire Cumberland Partners Ltd. and its subsidiaries Cumberland Private Wealth Management, Cumberland Investment Counsel and NCM Investments, Harbourfront announced Thursday.

Cumberland was founded in 1997 as an employee-owned wealth and investment management firm, and has about $5 billion in assets under management. The acquisition will grow Harbourfront’s presence in Toronto, Calgary and Kingston, Ont.

Danny Popescu, founder and executive chair at Harbourfront, said in an interview that the firms have been in touch for more than two years and recognized a mutual fit. “We see a lot of firms that wouldn’t be a good fit, [but Cumberland] is a great cultural fit.”

Read more: Harbourfront to buy Cumberland Private Wealth – Investment Executive