Toronto RIA consolidator CI Financial lists on NYSE

Toronto RIA consolidator CI Financial lists on NYSE
With 11 deals since February, the Canadian financial firm is dominating the U.S. RIA market
NOV 19, 2020

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.

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.