The $8B wealth firm is modernising its client intake process to support rapid adviser and household expansion
PWL Capital, one of Canada's largest independent wealth management firms, has selected OneVest as its digital client onboarding and account opening platform, as the Montreal-founded firm builds out the operational infrastructure needed to expand across Canada.
The partnership, announced on Nov. 12, 2026, marks a meaningful step in PWL Capital's technology strategy. Rather than relying on a single legacy system, the firm is assembling what it describes as a modern operating stack – selecting best-in-class providers for each stage of its business.
PWL Capital, which manages more than $8 billion in assets under management, chose OneVest specifically to handle the client onboarding stage, the point in the advisor-client relationship where speed and first impressions carry the most weight.
"We're building something Canada hasn't seen before, and that only works if the first experience a client has with PWL reflects who we are," said Phil Casarotto, chief operations officer at PWL Capital. "As we grow, our advisors need to spend their time on advice, not paperwork. We wanted to work with the best technology on the street, and OneVest is one of the best wealthtech platforms out there."
Casarotto also pointed to OneDigital – the firm's growth vehicle – as central to its expansion plans, adding that the OneVest platform needs to be "ready for the scale we're planning."
Streamlining the client experience
Under the arrangement, PWL Capital's investment advisors and operations team gain access to a single digital workflow for bringing on new clients.
Clients can open accounts online in minutes, with KYC collection, document gathering, and e-signature handled through a guided mobile journey. Advisors and operations staff can track the status of every new account in real time, reducing the risk of delays between a client's first meeting and a funded account.
The platform also connects directly to National Bank Independent Network (NBIN), the custodian used by PWL Capital, allowing new account information to flow through without manual re-entry. That integration is particularly significant for a firm targeting meaningful growth: operational errors and rekeying delays are among the most common friction points when advisory firms scale quickly.
For Canadian advisors watching the wealthtech space, the deal reflects a broader pattern. As WPC's 5-Star Wealth Tech Providers 2026 report found, the leading fintech providers in Canada are differentiating on operational cohesion rather than point solutions alone – a shift that is pushing firms like PWL to build modular stacks rather than depend on a single all-in-one system.
OneVest's growing Canadian footprint
For OneVest, the PWL Capital deal follows a period of accelerating enterprise adoption.
Mackenzie Investments selected the Calgary-based platform earlier in 2026 to support its advisor and client digital workflows, and the firm launched Canada's first agentic account opening solution in September 2026. OneVest is backed by Salesforce Ventures, Deloitte Ventures, TIAA Ventures, Allianz Ventures, and OMERS Ventures.
"PWL is one of the most respected names in Canadian wealth management, and with OneDigital behind them, they're building for serious growth," said Amar Ahluwalia, chief executive of OneVest. "Growth puts pressure on every part of a firm, and onboarding is where clients feel it first. Our job is to make sure PWL's advisors can welcome every new client with an experience that's fast, digital, and on brand, no matter how quickly the firm grows."
The focus on onboarding technology speaks to a wider challenge across the Canadian wealth management industry. Firms aiming to bridge the advisor productivity gap have increasingly turned to digital intake and KYC automation as the fastest way to free up advisor capacity – not just to handle more clients, but to deliver a more consistent service experience from the first touchpoint.
Research from Broadridge published in The Globe and Mail in March 2026 found that Canadian wealth management firms are actively investing in technology to deliver frictionless client experiences as competitive pressure from fintech rivals intensifies.
PWL Capital was founded in Montreal in 1996 and has offices across Canada.
For a broader look at how Canadian advisory teams are adapting to growth pressures and client expectations, see WPC's d1g1t names new CRO amid North American push, which examines how wealthtech firms are integrating AI-native functionality into daily advisor workflows.
