Canada-based CI Financial has agreed to buy Radnor Financial Advisors, which primarily serve HNW families in the Greater Philadelphia region of the US.

As part of the deal, Emigrant Partners will sell its minority interest in Radnor to CI.

The deal, whose financial details are not disclosed, marks CI’s 19th acquisition in the US and follows the company’s takeover of Dowling & Yahnke last month.

These two transactions are expected to increase CI’s US assets to approximately $68bn.

Established in 1989, Radnor offers service to HNW individuals and families. The firm has also established a niche in serving senior corporate executives.

The firm specialises in executive compensation and financial planning and also has divisions for accounting and income tax, as well as fiduciary income tax-return preparation services.

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The acquisition Radnor adds approximately $2.6bn to CI’s US RIA platform.

CI Financial CEO Kurt MacAlpine said: “For over 30 years, Radnor has delivered a suite of services that encapsulate wealth and investment management. We look forward to helping them expand their services and continue to deliver for their incredible client base.

“Advanced capabilities in tax advice and preparation are extremely valuable for HNW clients and Radnor’s expertise in this area will be a great addition to our platform.”

Radnor managing partner, president and chief investment officer Michael Mattise added: “We look forward to leveraging the resources, infrastructure and deep expertise that will come from being part of the CI family while continuing to offer the exceptional client experience that we have become known for.”

CI’s acquisition spree in the US is part of its strategy to globalise the firm and expand its wealth management platform.

Earlier this year, the company acquired Lawrence Park Asset Management and Brightworth.

In March, it also signed an agreement to access specialised services provided by Emigrant Bank’s subsidiaries for ultra-high-net-worth investors.