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December 16, 2021

CI Financial to buy Columbia Pacific Wealth Management

By Verdict Staff

CI Financial has signed a deal to purchase Columbia Pacific Wealth Management (CPWM), which has $6.4bn in total assets under management.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The deal, whose financial details are unknown, is part of CI’s strategic partnership with Columbia Pacific.

The agreement also entails the acquisition of a minority stake in Columbia Pacific Advisors (CPA), the alternative asset management business of Columbia Pacific.

As agreed, CPWM and CPA will continue to be led by their current leadership team.

The transaction is expected to help CI strengthen its presence across Pacific Northwest and on the West Coast.

Columbia Pacific Wealth Management

CPWM offers a range of wealth management solutions to high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients on the West Coast and across the US.

The firm also caters to select institutions from its offices in Seattle and San Francisco.

CI Financial CEO Kurt MacAlpine commented: “CPWM, with its comprehensive approach to wealth planning and a loyal, growing client base, is a fantastic fit with the other high-quality RIAs at CI Private Wealth and is another significant step forward in building the leading wealth management platform for HNW and UHNW families in the US.”

Following the deal, CPWM owners will become equity partners in CI Private Wealth, the US wealth management business of CI.

Columbia Pacific Advisors

Founded in 2006, CPA offers alternative investment strategies that include real estate private equity, direct lending to real estate, commercial, and industrial businesses, opportunistic and hedged strategies.

The firm manages $3.5bn in total assets under management.

CPWM and CPA managing partner Alex Washburn said: “CI’s investment is evidence of the success of our deliberate and long-term strategy to build enduring wealth management and alternative asset management businesses.

“This partnership will also broaden the resources and support available to Columbia Pacific as we continue to enhance the universe of investment opportunities for the families we advise.”

Last week, CI agreed to buy New York-based wealth manager RegentAtlantic.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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