Purpose Unlimited Completes Acquisition of Steadyhand
Deal News | Jun 10, 2025 | Globenewswire
Purpose Unlimited, a rapidly expanding Canadian financial services company, has successfully finalized its acquisition of Steadyhand Investment Management Ltd. and Steadyhand Investment Funds Inc. Steadyhand, a Vancouver-based wealth management firm with around $1.3 billion in assets, will now join with Purpose, increasing Purpose's total assets to over $30 billion. This acquisition aims to combine the resources and management teams of both companies while retaining Steadyhand's distinctive client-focused approach. Former Steadyhand funds and portfolios will be managed by Purpose Investments Inc., a subsidiary of Purpose. The leadership of both companies expressed enthusiasm for the merger, emphasizing ongoing client commitment and the potential for enhanced service offerings. Purpose Unlimited, led by its founder Som Seif, is known for its innovative strategies in asset and wealth management, positioning itself as a transformative force in the financial industry.
Sectors
- Financial Services
- Wealth Management
Geography
- Canada – Both Purpose Unlimited and Steadyhand are Canadian companies, with operations that primarily serve Canadian investors.
Industry
- Financial Services – Purpose Unlimited and Steadyhand operate within the financial services sector, providing asset management, wealth management, and investment services to Canadian clients.
- Wealth Management – Steadyhand and Purpose Investments are involved in wealth management, focusing on managing individual and organizational assets to build, preserve, and manage wealth effectively.
Financials
- $1.3 billion – Assets under management by Steadyhand before the acquisition.
- $30 billion – Total assets under Purpose’s platform after the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Purpose Unlimited Inc. | Acquirer | Company | A Canadian financial services firm focused on asset and wealth management, known for its innovative and client-centric approach. |
| Steadyhand Investment Management Ltd. and Steadyhand Investment Funds Inc. | Target | Company | An independent Vancouver-based wealth management firm specializing in low-fee investment solutions for Canadian clients. |
| Som Seif | CEO and Founder | Person | Founder and CEO of Purpose Unlimited, leading the company’s innovative approach to financial services. |
| Tom Bradley | Chair and Co-founder | Person | Chair and co-founder of Steadyhand, instrumental in maintaining its client-first reputation. |
| Purpose Investments Inc. | Asset Manager | Company | A subsidiary of Purpose Unlimited, to manage funds previously managed by Steadyhand. |