Fort Capital Partners and Acquatio Combine to Form Fort Capital Financial Services, a Dedicated Wealth and Asset Management M&A Practice

 

VANCOUVER and TORONTO – [August 11, 2025] – Fort Capital Partners is pleased to announce the creation of Fort Capital Financial Services, a new sector-focused investment banking team born from the acquisition of Acquatio, a Toronto-based firm specializing in wealth management M&A.

This new practice will focus exclusively on advising wealth and asset management firms as they navigate the current wave of industry consolidation, driven by aging founder demographics and the increasing urgency surrounding succession planning. Landmark transactions—such as iA Financial Group’s acquisition of Richardson Wealth and BMO’s acquisition of Burgundy Asset Management—highlight the sector’s growing strategic importance and underscore the ongoing evolution of the industry landscape.

The launch of Fort Capital FS fills a growing gap in the market: the lack of independent M&A advisors for wealth and asset managers, many of whom are underserved by traditional investment banks that are owned by—and directly compete with— their wealth management divisions.

“The launch of Fort Capital FS reflects our belief that independent firms deserve independent advice,” said Dave Bustos, founder of Fort Capital Partners. “We’re thrilled to welcome the Acquatio team to Fort Capital and to expand our platform with professionals who share our values. As more wealth and asset managers pursue growth, succession, and strategic partners, we see a powerful opportunity to serve this market with the care, discretion, and sophistication it deserves.”

Moving to Fort Capital as part of the transaction are Joe Millott, Founder and Principal of Acquatio, who will join as a Partner, and Ben Ewasko, who will join as a Vice President. Joe and Ben bring specialized experience, deep sector relationships, and a strong track record in the space to complement other partners on the Fort Capital platform.

Founded in 2023, Acquatio closed its first transaction in Q1 2025 and is expected to announce two additional transactions by Q4 2025—together representing over $3 billion in client AUM and AUA.

“We’re seeing unprecedented M&A activity in wealth management as founder-led firms seek succession solutions and growth capital,” said Joe Millott.  “There’s a clear need for specialized advice — and Fort Capital’s depth, M&A capabilities, industry relationships, and track record make them the ideal partner as we work to become Canada’s leading advisory team in the space.”

This combination builds on Fort Capital’s momentum in the sector, including its recent roles advising on the sale of Steadyhand Investments to Purpose Unlimited and ACM to EQB Inc. (parent company of Equitable Bank).  Combining forces with the professionals from Acquatio reinforces Fort Capital’s commitment to the Canadian financial services M&A market – and positions the firm to play a defining role in shaping the next wave of consolidation and growth in Canadian wealth management.

For more information, visit www.fortcapital.ca.

 

About Fort Capital Partners

Founded in 2014, Fort Capital has grown to become one of Canada’s leading independent investment banking advisory firms, with offices in Vancouver, Toronto, and Calgary. From the outset, the firm set out to do investment banking differently — combining the discipline and capabilities of larger investment banks with the agility, client focus, and personal touch of a boutique advisory team.

Fort Capital brings deep expertise across mergers & acquisitions, divestitures, capital raising, credit advisory, valuations, fairness opinions, and IPO advisory. The firm is known for serving ambitious entrepreneurs, private companies, and mid-market investors — delivering strategic, independent advice without compromise.

As a certified B Corporation since 2023, Fort Capital measures success not just by financial outcomes but also by its commitment to people, community, and responsible, sustainable business practices.

 

About Acquatio

Acquatio is a Toronto-based advisory firm specializing in mergers and acquisitions in the wealth management industry. Founded in 2023, Acquatio provides strategic M&A advice to independent wealth firms, asset managers, and family offices across Canada. With deep industry relationships and a focus on founder-led businesses, the firm is known for navigating complex succession transitions and identifying long-term strategic partners that preserve client and cultural continuity.