On June 27, 2022, in a strategic move, Guardian Capital Group, a Toronto-based financial services firm, concluded an agreement to acquire a majority stake of 60 percent in The RaeLipskie Partnership, a notable private wealth management firm located in Waterloo, Ontario. The acquisition aimed to strengthen Guardian's foothold in the private client wealth sector, adding over $1 billion in assets under management to its Private Wealth segment. This deal also aimed to enhance Guardian's regional influence in key markets. The RaeLipskie Partnership's management, signifying their ongoing commitment, retained a 40 percent stake, held by current employees. George Mavroudis, President and CEO of Guardian, expressed enthusiasm over the partnership, citing the management team's commendable reputation. Brian Lipskie, President & COO of The RaeLipskie Partnership, reciprocated the sentiment, highlighting the aligned client-first and community-focused values with Guardian. He anticipated strengthened capabilities through this alliance.