Displaying 40 results
Another summer rebrand: CI Private Wealth is now Corient
'It's a weird little portmanteau,' one marketing executive said.
Jury’s out as market rejects mega RIAs
IPOs may still be a road to riches for giant aggregators, but critics say hurdles remain.
RIA M&A stumbles in the second quarter
Acquirers say the highest-quality firms still command high valuations, while the rest are seeing new deal structures.
CI equity sale seen as endorsement of higher wealth management valuations
The sale of the 20% equity stake values the US wealth unit, CI Private Wealth, at $5.3 billion, and it postpones the planned IPO.
Bain, Abu Dhabi purchase 20% stake in CI Financial’s US wealth unit
The transaction allows CI to pay down some of the debt it accumulated as it acquired wealth management firms across the US.
S&P cuts CI Financial to junk
The downgrade reflects S&P’s expectation that CI will operate with debt of 4 to 5 times EBITDA over the next year.
CI Financial cashes in big with sale of stake in Boston RIA
CI claims to have tripled its return on its original minority investment in Congress Wealth Management.
CI Financial’s U.S. RIA enterprise continues to separate from Canadian mother ship
The firm's stock took a beating last year but is up 15% so far this year as the company navigates its U.S. growth strategy.
Dynasty IPO is still in the cards, Shirl Penney says
Despite Dynasty's sales of minority ownership stakes to Schwab and a private equity investor, a public stock offering is still the best long-term strategy for the platform, the CEO says.
CI Financial to separate US, Canada units as debt concerns rise
The Toronto-based firm said it will use the proceeds of the planned IPO of its US wealth management unit to improve its balance sheet.
CI Financial shares lose value amid US deal spree
CEO’s radical remake was accompanied by the exodus of 13 portfolio managers, traders and analysts to the Bank of Montreal.
So your RIA has gone mega. Is it time to go public?
The wave of IPOs among mega RIAs has been building for years, but some in the industry wonder how many firms can weather the challenges of being a public company.
CI Financial sees slowdown in M&A as it eyes US IPO
The Canadian firm expects to file the registration for an initial public offering of a portion of its US wealth management business during the fourth quarter.
CI Private Wealth applies for trust company charter in South Dakota
The move will allow CI Financial to provide trust solutions to high-net-worth and ultra-high-net-worth clients.
CI Financial will file to take US business public
The US IPO will give the Canadian financial conglomerate another method to pay for its purchases of registered investment advisers, says CEO Kurt MacAlpine.
Morgan Stanley spins off $15 billion RIA business
The asset sale suggests Morgan Stanley won't be following some competing Wall Street firms that are migrating toward the RIA space.
CI Financial adds $5 billion RIA, reports record financial results
The Canadian financial conglomerate acquired Newport Beach, California-based Corient Capital, while its earnings show its U.S. operations now represent its largest business segment.
CI Financial’s US expansion is a Canadian success story
The Toronto-based company's business operations in the United States represent the largest and fastest-growing segment of the $304 billion financial conglomerate.
Dynasty Financial IPO raises questions about future of platform
While private equity investors have an unquenchable thirst for wealth management, the public markets haven't always been kind to wealth management companies.
CI Financial notches 29th and 30th deals in record buying spree
The Toronto aggregator announced a twofer that combines for $10 billion in assets under management. The deals push CI’s U.S. footprint to $115 billion in assets.
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