Shares of Toronto-based RIA consolidator CI Financial (CIXX) began trading on the New York Stock Exchange, capping the next stage of growth in the U.S. market for the $63 billion company.
CI has been a public company listed on the Toronto Stock Exchange since 1995 under the ticker CIX, but Chief Executive Kurt MacAlpine said the NYSE listing will provide the company with another way to pay for U.S. registered investment advisers, of which CI has acquired 11 since February, making it the most prolific RIA buyer this year.
All of CI’s transactions have been cash deals to date, but MacAlpine said some of the pending transactions and transactions going forward are likely to include a mix of cash and NYSE-listed stock.
“The timing for this listing makes sense, given the rapid growth in our U.S. wealth management business,” MacAlpine said.
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Employee accounts, crypto trials and job cuts frame a pivotal year for the Swiss lender.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
