CI Financial Corp. is opening a U.S. headquarters in Miami, joining other finance and investing firms including Blackstone Inc. and Goldman Sachs Group Inc. that have expanded in South Florida since the pandemic began.
Edelman Financial Engines said it was buying a $846 million-asset RIA in the Seattle area, and dealmakers at three serial acquirers dug at CI Financial over ‘unheard of’ multiples it’s allegedly been paying during its year-and-a-half buying spree.
A San Diego RIA is CI Financial’s latest large-AUM acquisition, marking the Canadian asset manager’s fifth announced deal of 2021.
The first week of May brought Overland Park, Kansas-based Creative Planning its largest acquisition by AUM in its history, while CI Financial also cut a deal for one of its RIAs.
Toronto-based serial acquirer CI Financial strikes again, purchasing a $4.7 billion-asset registered investment advisory firm in Atlanta, as Edelman Financial Engines secures a fresh round of capital and $7.3 billion valuation.
CI Financial announces its 15th deal for a registered investment advisory firm in as many months while Mercer Advisors unveils its eighth deal in 2021.
Despite rising debt, CI Financial chief Kurt MacAlpine says the Toronto-based asset manager will continue to buy RIAs in the United States.