Canaccord posts Q4 revenue of $612.7M

Canaccord Genuity Group Inc. posted revenues of $612.7 million in its fourth quarter, up 33.2% compared to the same quarter last year, the firm reported on Wednesday.

Net income attributable to common shareholders for the period, ended March 31, 2026, was $52.8 million, up from $11.9 million in the same quarter a year earlier.

Diluted earnings per common share were $0.48, up 300% year over year.

For the 2026 fiscal year, Canaccord reported revenues of $2.2 billion, up 24.9% year over year. Half of that ($1.1 billion) came from its global wealth management business.

“We delivered record revenue in fiscal 2026 and significantly improved profitability, reflecting stronger operating leverage and disciplined execution across the platform,” said Dan Daviau, chairman and CEO, in a release. “Capital markets growth was led by higher investment banking and advisory activity, while wealth management continued to scale, supported by market appreciation, targeted investment and positive inflows.

During the fourth quarter, Canaccord’s global wealth management division brought in $306.7 million in revenue, a 28.4% year-over-year rise driven by higher quarterly commissions and fees revenue and its acquisition of Wilsons Advisory in Australia. The division reported $45.2 million in net income before taxes, a year over year increase of 9.6%.

In North America, its wealth business posted record quarterly revenue of $130.3 million, a 29.8% increase mainly driven by higher commissions and fees and investment banking revenue (up 26.9% and 143.1%, respectively). Meanwhile, its business in the UK & Crown Dependencies brought in revenue of $127.4 million (up 8.3%) and Australia, $49 million (up 134.7%).

In Canada, Canaccord grew its client assets 30.4% year over year to $55.7 billion in fiscal 2026 without adding significantly to its count of advisors (it had 44 advisor teams at the end of the fourth quarter, up from 42 a year earlier).

In a conference call, Daviau noted that growth was driven by market increases, but also advisors growing their practices.

“The cheapest way to grow your business is net organic flows — have your existing advisors grow — so we give them a lot of tools to increase their business,” he said. “We’ve got a very phenomenal group of advisors who are incredibly entrepreneurial. …. You’ve seen the average size of book per advisor grow substantially this year.”

For the fiscal year, the global wealth division posted $195.2 million in pre-tax net income, up 31% from fiscal 2025. Total client assets in the division came to a record $147.8 billion at the end of the quarter, up $27.4 billion or 22.8% year over year.

Its global capital markets division posted $291.6 million in revenue, excluding significant items, for the quarter. That represented a year-over-year increase of 37.3%, primarily due to stronger contributions from investment banking and advisory activities (up 161.3% and 32%, respectively). 

Pre-tax net income for global capital markets came to $58.3 million in the quarter, and $140.9 million for the fiscal year, up $57.3 million and $97.1 million respectively from the same periods last year.

Canaccord also provided an update on media reports that it was in talks to sell its U.K. wealth management business. It said it continues to “assess a range of strategic options for [Canaccord Genuity Wealth Management] UK and has engaged in discussions with various counterparties,” but that there is no fixed timeline for this assessment.

Also during the quarter, the firm’s U.S. subsidiary, Canaccord Genuity LLC, reached a $109.4-million settlement agreement with U.S. regulators for deficiencies in its compliance systems and controls. The firm has paid $102.6 million, with $6.8 million subject to suspension pending the delivery of a suspicious activity reporting lookback review ordered by the Treasury’s Financial Crimes Enforcement Network.