Toronto-based CI Financial, which has quickly emerged as a serial acquirer of U.S. advisory firms, has applied for a listing on the New York Stock Exchange.
One of Canada’s largest wealth management companies with more than $59 billion under management, including $13 billion through U.S. registered investment advisers, CI has been open about its plans for U.S. expansion.
The announced acquisition Tuesday of Stavis & Cohen, a $570 million Houston-based firm, marked CI’s 10th U.S. RIA deal since entering the U.S. market in February.
“The timing for this listing makes sense, given the rapid growth in our U.S. wealth management business,” Chief Executive Kurt MacAlpine said in a prepared statement.
“As we continue to execute on our strategic priority to globalize our company, listing CI’s common shares on the NYSE will broaden our investor base and increase our corporate profile in the U.S. market,” MacAlpine continued. “It will also support the continued acquisition of U.S. wealth management firms by allowing us to offer CI Financial stock as part of the purchase price, an attractive option for many sellers.”
Nine-month electronic trading freeze and share lending program at the center of dismissed claim.
Meanwhile, Rossby Financial's leadership buildout rolls on with a new COO appointment as Balefire Wealth welcomes a distinguished retirement specialist to its national network.
With a smaller group of companies driving stock market performance, advisors must work more intentionally to manage concentration risks within client portfolios.
Professional athletes are often targets of scam artists and are particularly vulnerable to fraud.
The brokerage giant tells Wall Street it will use artificial intelligence to reach clients it has never been able to serve — and turn the technology's perceived threat into a competitive edge.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
