Serial acquirer CI Financial Corp. on Wednesday morning announced plans to buy Matrix Capital Advisors, a Chicago-based registered investment adviser with $615 million in client assets.
Toronto-based CI Financial, which has already announced more than two dozen deals since entering the U.S. wealth management space two years ago, has grown to more than $95 billion worth of U.S. RIA assets. CI’s total assets globally are anticipated to reach $271 billion when all current pending deals close.
Matrix, which has been serving high-net-worth clients for more than 20 years, will become part of the private wealth division of CI Financial.
“We are excited to welcome another exceptional firm in Matrix Capital Advisors to CI Private Wealth,” said CI chief executive officer Kurt MacAlpine, in a prepared statement. “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.”
CI opened a U.S headquarters in Miami in September. A publicly traded company listed on the Toronto Stock Exchange, CI dually listed its shares on the New York Stock Exchange in November 2020 under the ticker CIXX to help facilitate U.S. transactions.
CI also announced today that it has completed the previously announced acquisition of McCutchen Group, a $3.4 billion Seattle-based RIA.
South Carolina estate planning firm joins Osaic’s IBD network, citing succession planning tools and multigenerational growth resources.
A new SIFMA and KPMG study of more than 2,100 US investors finds satisfaction high, AI-only trust falling, and demand for human guidance growing across every generation.
Retail banks and private wealth firms scored 40 in Fitch's AI stress test, signaling possible one-notch downgrade risk under an adverse scenario.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL.
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
