Cwb Wealth Management
CWB Wealth Management Ltd. operates the Onyx family of seven mutual funds (equity, balanced, growth, conservative, and diversified income strategies) for individual and advisor-served investors in Canada, distributed through Canadian Western Bank and National Bank of Canada branch networks and currently being absorbed into National Bank of Canada following its 2025 acquisition.
- Company typePrivate
- Founded2015
- HeadquartersEdmonton, Canada
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Cwb Wealth Management does
CWB Wealth Management Ltd. is a Canadian wealth management subsidiary that operated the Onyx family of mutual funds, comprising seven products across Canadian, North American, and global equity strategies, balanced solutions, a growth solution, a conservative solution, and a diversified income fund. The funds are offered in Series A (retail) and Series O (institutional/wholesale) share classes and are distributed through the branch networks and financial advisor channels of Canadian Western Bank and, following the 2025 acquisition, National Bank of Canada. The company is headquartered in Edmonton, Canada, employs between 101 and 250 people, and was founded in 2015.
The business model is a classic fee-based wealth management model in which revenue is generated from ongoing management expense ratios (MERs) charged on assets under administration in the Onyx mutual fund lineup. No pricing, MER schedule, AUM, or revenue figures are publicly disclosed. Distribution is anchored to bank-channel relationships rather than a standalone direct-to-consumer brand, and supporting fund documentation (prospectus, fund facts, financial statements, proxy voting records, IRC reports) is hosted on National Bank's centralized document portal.
Following National Bank of Canada's 2025 acquisition of Canadian Western Bank, CWB Wealth Management is in an active restructuring phase. Three Onyx mutual funds are being terminated effective June 1, 2026 and trustee and investment fund manager responsibilities for four surviving funds are transferring to Natcan Trust Company and National Bank Trust Inc., both National Bank of Canada subsidiaries, effective June 15, 2026. The company therefore operates as an in-transition legal entity within a much larger publicly listed Canadian bank, with the standalone CWB Wealth Management franchise being absorbed into the parent's wealth management platform.
Cwb Wealth Management firmographics
Firmographics- Name
- Cwb Wealth Management
- Legal name
- CWB Wealth Management Ltd.
- Website
- https://cwbwealth.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- CWB Wealth Management Ltd. operates the Onyx family of seven mutual funds (equity, balanced, growth, conservative, and diversified income strategies) for individual and advisor-served investors in Canada, distributed through Canadian Western Bank and National Bank of Canada branch networks and currently being absorbed into National Bank of Canada following its 2025 acquisition.
- Ownership category
- akta.pro rank
Cwb Wealth Management industry classification
Industry- Product category
- Wealth Management
- NAICS
- Open-End Investment Funds (525910), Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Bank-Affiliated Retail Wealth Management (FSAAAAAB)
- akta.pro secondary industry
- Fund Depositary (UCITS/AIFMD & Trustee Oversight) (FSAAAOAC)
Keywords
Where Cwb Wealth Management is headquartered
LocationHeadquarters
- HQ city
- Edmonton
- HQ country
- Canada
- HQ region
- North America
Markets served
Cwb Wealth Management business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Mutual Fund Management: CWB Wealth Management generates revenue through management fees charged on mutual fund assets under administration. The company manages the Onyx Fund series including equity, balanced, growth, conservative, and diversified income solutions. Revenue is derived from ongoing AUM-based management fees as standard in the wealth management industry.
Go-to-market motion1 record
Distribution channels3 records
Cwb Wealth Management product offering
Product offeringCore offering
CWB Wealth Management Ltd. manages and distributes the Onyx family of mutual funds covering Canadian Equity, North American Equity, Global Equity, Balanced, Growth, Conservative, and Diversified Income strategies, offered in Series A (retail) and Series O (institutional/wholesale) share classes. Following National Bank of Canada's 2025 acquisition of Canadian Western Bank, the firm operates as a wealth management subsidiary distributing its funds through bank branches and financial advisors across Canada, with trustee and investment fund manager roles transitioning to National Bank subsidiaries (Natcan Trust Company and National Bank Trust Inc.) effective June 15, 2026.
Product overview
CWB Wealth Management operates as a wealth management division of National Bank of Canada, offering a unified platform of mutual funds under the Onyx brand. The product portfolio consists of seven distinct mutual fund products spanning equity, balanced, and income strategies across North American, Canadian, and global markets. The funds are available in two share class series: Series A (standard retail) and Series O (institutional/wholesale). All funds are currently undergoing integration following National Bank of Canada's 2025 acquisition of Canadian Western Bank, with trustee and investment management responsibilities transitioning to National Bank subsidiaries.
Differentiator
Problem solved
Functional benefit
Brands
- Onyx: Mutual fund brand under CWB Wealth Management, offering equity, balanced, growth, and income solutions including Onyx North American Equity Fund, Onyx Growth Solution, Onyx Global Equity Fund, Onyx Diversified Income Fund, Onyx Conservative Solution, Onyx Canadian Equity Fund, and Onyx Balanced Solution
Products and services
- Onyx North American Equity Fund An equity mutual fund focusing on North American markets, offering both Series A (retail) and Series O (institutional/wholesale) share classes for investors seeking North American equity exposure.
- Onyx Growth Solution A growth-oriented mutual fund solution designed for investors seeking capital appreciation over the long term, available in Series A and Series O variants.
- Onyx Global Equity Fund A global equity mutual fund providing international market exposure across multiple regions and sectors, available in Series A and Series O variants.
- Onyx Diversified Income Fund A diversified income mutual fund designed to provide regular income through a mix of asset classes, available in Series A and Series O variants.
- Onyx Conservative Solution A conservative mutual fund solution focused on capital preservation and steady income, suitable for risk-averse investors, available in Series A and Series O variants.
- Onyx Canadian Equity Fund A Canadian equity mutual fund focusing on domestic stocks listed on Canadian exchanges, available in Series A and Series O variants.
- Onyx Balanced Solution A balanced mutual fund solution combining equity and fixed income investments to achieve both growth and income objectives, available in Series A and Series O variants.
Companies that use Cwb Wealth Management
Customer profileSegments1 record
Ideal customer profiles2 records
Cwb Wealth Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Cwb Wealth Management partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Natcan Trust CompanycoreNatcan Trust Company, a wholly owned subsidiary of National Bank of Canada, is assuming the trustee role for CWB mutual funds effective June 15, 2026, as part of the post-acquisition integration of Canadian Western Bank's wealth management operations.
- National Bank Trust Inc.coreNational Bank Trust Inc., a wholly owned subsidiary of National Bank of Canada, is assuming the investment fund manager role for CWB mutual funds effective June 15, 2026, as part of the restructuring following the National Bank of Canada acquisition of Canadian Western Bank.
- National Bank of CanadacoreNational Bank of Canada completed the acquisition of Canadian Western Bank in 2025. As part of the integration, National Bank is assuming control of CWB Wealth Management's mutual fund operations, with trustee functions transferring to Natcan Trust Company and investment fund manager responsibilities moving to National Bank Trust Inc., both wholly owned subsidiaries of National Bank of Canada.
Scale indicators1 record
Recent moves5 records
Expansion highlights3 records
Cwb Wealth Management competitors and assessment
Company assessmentDirect peers
- IG Wealth Management: Canadian wealth management firm (part of IGM Financial) operating one of the country's largest advisor-led mutual fund platforms. While not bank-affiliated, it competes directly for retail mutual fund investors with comparable active equity, balanced, and income solutions.
- Scotia Global Asset Management: Asset management business of Scotiabank offering mutual funds distributed through Scotiabank branch and advisor channels. Comparable bank-affiliated active mutual fund manager competing for the same Canadian retail wealth customers.
- Fidelity Canada: Canadian arm of Fidelity Investments offering a full suite of actively managed mutual funds across Canadian, North American, and global equity as well as balanced and income categories. Competes for the same investor segments and distribution channels (advisor and direct) as Onyx.
- RBC Global Asset Management: Mutual fund, ETF, and institutional asset management arm of Royal Bank of Canada. Operates one of Canada's largest retail mutual fund families distributed through RBC branches, offering a directly overlapping product shelf to Onyx funds for the same Canadian retail and institutional audience.
- CIBC Asset Management: Canadian bank-affiliated mutual fund and portfolio management business of CIBC. Offers a comparable suite of active mutual funds across equity, balanced, and income mandates distributed through CIBC branches and advisors — directly comparable in product, distribution, and target customer.
- Mackenzie Investments: Major Canadian active mutual fund manager (also part of IGM Financial) with a broad product shelf covering Canadian, North American, and global equity, balanced, and fixed-income mandates — directly overlapping with Onyx fund categories.
- Manulife Investment Management: Global asset and wealth management arm of Manulife Financial, managing a large Canadian mutual fund family. Directly comparable in offering active mutual funds across equity, balanced, growth, and income mandates for Canadian retail and institutional clients.
- BMO Global Asset Management: Wealth and asset management division of Bank of Montreal. Distributes actively managed mutual funds and ETFs through BMO branches and advisors, providing directly comparable Canadian equity, balanced, and income fund offerings to Onyx's product set.
- TD Asset Management: Investment management arm of TD Bank Group managing mutual funds and institutional mandates. Distributes through TD branches and advisor networks with active Canadian and global equity and balanced solutions that map closely to CWB Wealth's Onyx product mix.
- National Bank Investments: Mutual fund and managed solutions business of National Bank of Canada. As NBC's in-house fund family, it is the most direct comparable to CWB Wealth Management — both distribute bank-affiliated Canadian mutual funds through the same parent branch network and are undergoing product rationalization under the same post-acquisition umbrella.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights5 records
Customer concentration
Cwb Wealth Management social profiles
Digital presenceCwb Wealth Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cwb Wealth Management leadership team
Management profileNumber of profiles
Cwb Wealth Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cwb Wealth Management M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cwb Wealth Management
What does Cwb Wealth Management do?
CWB Wealth Management Ltd. manages and distributes the Onyx family of mutual funds covering Canadian Equity, North American Equity, Global Equity, Balanced, Growth, Conservative, and Diversified Income strategies, offered in Series A (retail) and Series O (institutional/wholesale) share classes. Following National Bank of Canada's 2025 acquisition of Canadian Western Bank, the firm operates as a wealth management subsidiary distributing its funds through bank branches and financial advisors across Canada, with trustee and investment fund manager roles transitioning to National Bank subsidiaries (Natcan Trust Company and National Bank Trust Inc.) effective June 15, 2026.
Is Cwb Wealth Management a public or private company?
Cwb Wealth Management is a private company. It is classified as corporate owned and is currently operating.
When was Cwb Wealth Management founded?
Cwb Wealth Management was founded in 2015. It employs 101 to 250 people.
Where is Cwb Wealth Management based?
Cwb Wealth Management is headquartered in Edmonton, Canada, in the North America region.
How does Cwb Wealth Management make money?
One revenue line is on record: mutual Fund Management.
Who are Cwb Wealth Management's main competitors?
Direct peers on record are IG Wealth Management, Scotia Global Asset Management, Fidelity Canada, RBC Global Asset Management, CIBC Asset Management, Mackenzie Investments, Manulife Investment Management, BMO Global Asset Management, TD Asset Management and National Bank Investments.
Does Cwb Wealth Management have an API?
No public API is recorded for Cwb Wealth Management.
What industry is Cwb Wealth Management in?
Cwb Wealth Management's product category is Wealth Management. Its primary akta.pro industry code is FSAAAAAB, Bank-Affiliated Retail Wealth Management, with a secondary code of FSAAAOAC, Fund Depositary (UCITS/AIFMD & Trustee Oversight). Its NAICS code is 525910 and its SIC code is 6282.