OneDigital Expands into Canada with Investment in PWL Capital, Expanding Wealth Management Services Across Borders
OneDigital, an insurance, financial services, and HR consulting firm, has made significant strides in its international expansion efforts by investing in PWL Capital. Based in Montreal, Canada, PWL Capital is a leading independent wealth management firm. This strategic move marks OneDigital’s first venture across borders, leveraging a well-established leadership and platform to bring a client- and planning-first fiduciary structure to the Canadian market.
PWL Capital, established in 1996, stands as one of Canada’s largest evidence-based, independent wealth management firms. With a presence in Ottawa, Montreal, and Toronto, the firm successfully manages roughly $5.5 billion in client assets, offering personalized wealth management and financial planning services to more than 2,300 client families across the nation.
“This is a consequential investment for OneDigital as we make our first move into the Canadian market, partnering with a group that shares our commitment to delivering investment and financial planning solutions centered around our client’s needs,” commented Mike Sullivan, Co-Founder and Chief Growth Officer at OneDigital. “PWL brings an exceptional team with deep expertise in wealth management, making them the perfect partner as we expand our footprint internationally. Together, we’re poised to bring more systematic, client-first financial solutions to Canadians, marking the beginning of an exciting new chapter for OneDigital’s growth and our ability to serve clients on a global scale.”
Cameron Passmore, Chief Executive Officer at PWL Capital, shared, “Our vision is to create a company that doesn’t exist today — a company built from the ground up with one clear purpose: to deliver great financial advice to nice, busy people with serious financial objectives. This vision means one purpose, one team, and one philosophy working together to transform the financial advisory experience for Canadians. The beauty of a unified team ensures that every client benefits from a cohesive, thoughtful, and transformational approach. And Canada so desperately needs and deserves this. That’s why we’re thrilled to partner with OneDigital.”
Through this partnership, PWL will adopt the OneDigital brand while remaining an independent subsidiary. This strategy ensures PWL’s legacy of exceptional client service is preserved while enabling the firm to tap into OneDigital’s extensive resources to elevate its offerings further. With a team of over 70 professionals, including more than 25 experienced investment advisors registered with the Canadian Investment Regulatory Organization (CIRO), PWL will continue providing trusted services to clients across various industries, including healthcare professionals, business owners, and families.
The investment in PWL’s enterprise platform signifies a critical milestone in OneDigital’s 25-year history and showcases its steadfast dedication to advocating for its individual and business clientele. This investment sets a foundation for OneDigital’s long-term expansion into Canada, with plans to further explore opportunities across employee benefits, property & casualty insurance, and workplace consulting solutions, aiming to partner with similar organizations in 2025 and beyond.
OneDigital’s mission revolves around helping businesses and individuals achieve their goals pertaining to health, success, and financial security. Their platform offers personalized, technology-enabled solutions aimed at creating a modern work-life experience. Through their comprehensive services, more than 100,000 employers and millions of individuals rely on OneDigital for integrating worksite products and services, alongside retirement and wealth management advice.
PWL Capital, founded in 1996 in Montreal, serves as an independent boutique retirement and wealth management firm offering comprehensive, full-service expertise to Canadians. Over the last 25 years, the firm has provided integrated investment management, financial planning services, and strategies related to tax, retirement, and estate planning, with offices strategically located in Ottawa, Montreal, and Toronto.
PWL Capital Inc. offers portfolio management and brokerage services, under the regulation of the Canadian Investment Regulatory Organization (CIRO) and is a member of the Canadian Investor Protection Fund (CIPF). They further provide financial planning and insurance products through PWL Advisors Inc., regulated in Ontario by the Financial Services Regulatory Authority of Ontario (FSRA) and in Quebec by the Autorité des marchés financiers (AMF).
This noteworthy collaboration between OneDigital and PWL Capital holds the promise of a transformed financial advisory landscape in Canada, promising systematic and client-first financial solutions tailored to meet the diverse needs of Canadians.
