Canadian mega buyer CI Financial is acquiring Seattle-based McCutchen Group, an RIA focused on ultra-high-net-worth clients with $3.4 billion under management.
Like many of CI’s acquisitions, McCutchen Group is large and fast-growing, but it's also relatively new, having been launched in 2007. The deal, which is expected to close by the end of the year, gives CI its first office in the Pacific Northwest and underscores the aggregator’s intentions to develop a nationwide footprint south of the Canadian border.
CI Financial entered the U.S. market less than two years ago in January 2020 as an aggressive acquirer of registered investment advisory firms, and the latest deal pushes it to more than $85 billion in U.S. wealth management assets and more than $260 billion globally.
Based in Toronto, CI opened a U.S. headquarters in Miami last month. A publicly traded company listed on the Toronto Stock Exchange, CI dually listed its shares on the New York Stock Exchange last November to help facilitate U.S. transactions.
“CI is an ideal partner for us and our clients, given the strong alignment of culture and values and its commitment to a client-focused model,” Matt McCutchen, founder and chief executive of McCutchen Group, said in a statement.
“Working with CI will allow us to expand and enhance the services we offer our clients while preserving the advisory model that our clients value,” he said.
A new analysis finds long-running fiscal woes coupled with impacts from the One Big Beautiful Bill Act stand to erode the major pillar for retirement income planning.
Caz Craffy, whom the Department of Justice hit with a 12-year prison term last year for defrauding grieving military families, has been officially exiled from the securities agency.
After years or decades spent building deep relationships with clients, experienced advisors' attention and intention must turn toward their spouses, children, and future generations.
The customer’s UBS financial advisor allegedly mishandled an options strategy called a collar, according to the client’s attorney.
An expansion to a 2017 TCJA provision, a permanent increase to the standard deduction, and additional incentives for non-itemizers add new twists to the donate-or-wait decision.
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.
