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January 5, 2022updated 08 Apr 2022 8:13am

CI Financial concludes six deals, adds $24bn to US private wealth business

CI Financial has concluded its six previously announced transactions, bringing its total US assets to $115bn.

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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
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The deals include the acquisition of four registered investment advisor (RIA) firms, namely, Columbia Pacific Wealth Management, RegentAtlantic Capital, Gofen & Glossberg, and R.H. Bluestein & Co.

These firms collectively add approximately $24bn assets to CI’s US private wealth business.

Additionally, CI closed the purchase of minority stakes in alternative investment firms Columbia Pacific Advisors (CPA) and GLAS Funds.

These transactions, closed by 31 December 2021, will enable the Canadian wealth manager to better serve high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients in the US.

Additionally, CI further bolsters its capabilities in alternative investments.

CI Financial CEO Kurt MacAlpine said: “We are thrilled to have had such an amazing year of opportunity and growth as we continue join forces with some of the best RIA leaders and teams across the country.

“We are looking forward to another incredible year as we execute on our vision and continue to bring our clients a world-class wealth management experience.”

CI Private Wealth in 2021

CI Private Wealth, the US wealth management division of CI, is currently said to be the firm’s largest business line by assets.

The firm added 15 RIAs to the division during 2021, taking assets under management (AuM) from $23bn to approximately $115bn.

CI follows a private partnership model, which enables RIA owners and employees to pick equity in the broader CI Private Wealth business in the US.

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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