National Bank Financial – Wealth Management (NBFWM) is one of Canada's largest full-service securities brokerage and wealth management firms and a division of National Bank of Canada, the country's sixth-largest bank. Headquartered in Montreal and serving clients across the country through approximately 850 wealth advisors, it delivers portfolio management, financial planning, estate planning, tax planning, and banking solutions to individual and institutional investors. National Bank itself traces its origins to 1859, with NBFWM operating as its dedicated wealth advisory arm.
Website: nbfwm.ca
Company type: Division of National Bank of Canada (TSX: NA)
CEO and key people: Jonathan Durocher, President (appointed May 2020)
Regions served: Canada-wide
What does National Bank Financial – Wealth Management offer?
NBFWM provides a comprehensive range of investment and wealth planning services to individual and institutional clients through its network of wealth advisors. Its core offering includes:
- discretionary and non-discretionary portfolio management across equities, fixed income, and managed products
- financial planning services covering retirement, estate, and tax planning
- access to banking solutions and credit facilities through National Bank
- annuity and insurance products as part of integrated wealth planning strategies
- institutional services for foundations, endowments, and corporate clients
A feature that advisors and clients frequently cite is NBFWM's position within a Big Six bank that describes itself as retaining an entrepreneurial, relationship-oriented character distinct from the larger bank-dealer platforms. The firm provides advisors with proprietary technology and planning tools while operating within the regulatory and capital framework of National Bank of Canada, a member of the Canadian Investor Protection Fund.
National Bank Financial – Wealth Management in the market
NBFWM holds a particularly strong position in Quebec, where National Bank is the dominant financial institution and the firm commands an estimated 27 per cent market share in that province's investment dealer market. Nationally, the firm has described its market share as approximately 9 per cent, making it one of the significant mid-sized dealer arms within the bank-owned segment. That positioning — inside a Big Six bank but with a regional anchor and a more entrepreneurial culture than the Toronto-headquartered majors — shapes both its advisor recruitment approach and its client proposition.
Jonathan Durocher, who has held the presidency since May 2020, previously held senior roles at Invesco Canada, Financière Banque Nationale, and National Bank Investments before assuming the leadership of NBFWM. National Bank has invested significantly in advisor technology and digital tools under his tenure, consistent with the parent bank's broader digital strategy. In June 2026, NBFWM was named the runner-up investment dealer in Investment Executive's annual Brokerage Report Card, earning an overall rating of 9.0 — behind only Wellington-Altus Private Wealth, which has led the ranking for seven consecutive years.
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