Purpose Unlimited Acquires Steadyhand
Deal News | Jun 10, 2025 | Globenewswire
Purpose Unlimited Inc., a Canadian financial services company, has announced the acquisition of Steadyhand Investment Management Ltd. and Steadyhand Investment Funds Inc. Steadyhand, an independent wealth management firm based in Vancouver, manages approximately $1.3 billion in assets for Canadian investors. This acquisition makes Steadyhand a wholly owned subsidiary of Purpose, combining the resources and management teams of both firms. Total assets on the Purpose platform exceed $30 billion following this deal. All previously Steadyhand-managed portfolios will now be managed by Purpose Investments Inc. Purpose Unlimited emphasizes its commitment to maintaining Steadyhand’s client-focused approach while providing broader innovation and reach. This acquisition strengthens Purpose’s mission to redefine finance in Canada by empowering Canadians with innovative financial solutions. Steadyhand is recognized for its low-cost investment solutions and commitment to offering Canadians enhanced investment results and a simplified experience.
Sectors
- Financial Services
- Wealth Management
Geography
- Canada – Both Purpose Unlimited and Steadyhand are based in Canada, making the Canadian market central to this acquisition.
- Vancouver – Steadyhand is based in Vancouver, which is significant as the acquisition integrates this regional office into Purpose's operations.
Industry
- Financial Services – The article discusses the acquisition within the financial services sector, highlighting asset management and wealth management services.
- Wealth Management – Steadyhand operates within the wealth management sector, providing investment management services to Canadians.
Financials
- $1.3 billion – Assets under management by Steadyhand at the time of acquisition.
- Over $30 billion – Combined assets on Purpose Unlimited's platform post-acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Purpose Unlimited Inc. | Bidding Company | Company | A Canadian financial services company focused on asset management and small business financing. |
| Steadyhand Investment Management Ltd. | Target Company | Company | An independent wealth management firm in Vancouver managing $1.3 billion in assets. |
| Purpose Investments Inc. | Asset Manager | Company | A wholly owned subsidiary of Purpose Unlimited managing assets post-acquisition. |
| Som Seif | CEO of Purpose Unlimited | Person | Founder and CEO of Purpose Unlimited. |
| Tom Bradley | President and Co-founder of Steadyhand | Person | Co-founder and president of Steadyhand emphasizing the firm’s commitment to client success. |