Toronto-based CI Financial is buying a majority stake in Houston, Texas-based Stavis & Cohen Financial, marking the Canadian firm’s 10th U.S. transaction this year.
The purchase of Stavis & Cohen, which has $570 million under management, will bring CI’s U.S. assets to approximately $13 billion, and its North American assets to approximately $59 billion.
Stavis & Cohen is a leading woman-owned wealth management firm led by co-founders Deborah Stavis, chief executive officer, and Eddie Cohen, chief investment officer.
The team helps high-net-worth families reach their lifetime and multigenerational goals by providing individualized guidance and support in all aspects of wealth planning.
“CI is the ideal partner for our clients, our employees and our business as we move to the next phase of our development,” Stavis said in a statement. “CI understands and shares our mission of helping families navigate the complexities of accumulating, preserving and distributing assets to achieve their goals through an in-depth planning approach.”
Since entering the U.S. registered investment adviser market in the first quarter of 2020, including Stavis & Cohen, CI has acquired or agreed to acquire seven RIAs directly and 10 overall, including transactions by CI’s affiliates.
The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.
The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC’s Aspire Holdings exited their investments.
The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”
The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.