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December 2, 2021

CI Private Wealth purchases Chicago-based Matrix Capital Advisors

By Verdict Staff

CI Private Wealth, a division of CI Financial has acquired Chicago-based registered investment adviser Matrix Capital Advisors for an undisclosed amount.

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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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Matrix, which oversees $615m in assets, caters to high-net-worth (HNW) clients. The firm is led by managing directors Christopher Burke and Michael Wik.

CI CEO Kurt MacAlpine said: “We are excited to welcome another exceptional firm in Matrix Capital Advisors to CI Private Wealth.

“For two decades, Matrix has provided best-in-class service to high-net-worth clients in the greater Chicago area, building deep and meaningful relationships through a personal and customised approach. As part of CI Private Wealth, the Matrix team will continue to comprehensively serve their clients while taking advantage of the additional resources that CI can provide as a global firm.”

Burke said: “CI was a natural choice for our firm and our clients, given the company’s long experience in asset management and wealth management, scale and dedication to building a national, client-focused private wealth company.

“By combining with CI Private Wealth, we will benefit from CI’s capabilities and support in all aspects of the business, allowing us to further enhance the service and attention we provide to our clients.”

Separately, CI concluded the previously announced acquisition of Seattle-based McCutchen Group.

McCutchen, which manages $3.4bn in assets, offers financial advisory services such as investment management, tax, charitable and estate planning. It also provides family office services to HNW and ultra-high-net-worth (UHNW) clients in the Pacific Northwest and across the US.

These transactions are expected to add $4bn in assets to CI’s US wealth management business, taking its total assets to approximately $86.6bn.

Last month, the firm agreed to buy Chicago-based wealth and investment management firm Gofen and Glossberg, which oversees $7.5bn in assets.

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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