RGT Wealth Advisors, LLC (“RGT”), a subsidiary of CI Financial
Corp. (“CI”) (TSX: CIX; NYSE: CIXX), today announced that it has
acquired Odyssey Wealth Management, LLC (“Odyssey”), a Dallas-area
registered investment advisor (“RIA”) dedicated to delivering
comprehensive wealth management solutions to a high- and
ultra-high-net-worth clientele.
The combination of RGT and Odyssey, which manages over $200
million in assets from offices in Plano, Texas, brings RGT’s total
assets to approximately $5.5 billion and further solidifies the
firm’s leadership in the Dallas region and the state of Texas. This
acquisition will combine two like-minded firms with complementary
client philosophies and service solutions, designed to meet the
complex needs of affluent individuals and families.
“We’re excited to be adding Brent Little and the Odyssey team
and their rich experience into our firm,” said Mark Griege, Chief
Executive Officer of RGT. “Odyssey’s dedication to client
excellence and proven experience creating bespoke solutions for
high-net-worth clients closely aligns with our mission. Our
combined efforts and expertise will allow us to foster deeper
relationships and better results for our clients.”
“Joining RGT and CI Private Wealth will provide our employees
and clients with the scale and resources of a much larger firm,
ultimately improving the financial outcomes we seek to achieve for
our clients,” said Brent Little, Founder and Chief Executive
Officer of Odyssey. “We seek to provide our clients with a better
wealth experience spanning investment management, wealth planning
and family office services, and this move will only enhance the
depth of our services and the expertise we offer.”
“We’re delighted to welcome the outstanding Odyssey team to RGT
and the CI group,” said Kurt MacAlpine, CI Chief Executive Officer.
“This combination shows the appeal and the benefits of CI’s
collaborative approach and focus on meeting client needs. It
supports the continued development of the CI Private Wealth
platform through the growth of RGT, one of the country’s leading
RIAs, with an exceptional leadership team, a highly experienced,
expert staff, and a long-term track record of growth and
success.”
With this transaction and the completion of other acquisitions,
CI’s U.S. wealth management assets are expected to reach
approximately $84 billion (C$106 billion). Terms were not
disclosed.
All financial amounts are as of September 30, 2021.
About RGT Wealth Advisors Founded in 1985, RGT Wealth
Advisors, LLC provides wealth management and investment management
services to high-net-worth individuals and family offices. RGT
partners with clients to help them manage all aspects of their
financial life to achieve their goals. To learn more about RGT and
the firm's approach, please visit http://rgtadvisors.com/.
About CI Financial
CI Financial Corp. is an independent company offering global
asset management and wealth management advisory services. CI
managed and advised on approximately C$320.4 billion (US$252.7
billion) in client assets as at September 30, 2021. CI’s primary
asset management businesses are CI Global Asset Management (CI
Investments Inc.) and GSFM Pty Ltd., and it operates in Canadian
wealth management through CI Assante Wealth Management (Assante
Wealth Management (Canada) Ltd.), CI Private Counsel LP, Aligned
Capital Partners Inc., CI Direct Investing (WealthBar Financial
Services Inc.), and CI Investment Services Inc.
CI’s U.S. wealth management businesses consist of Barrett Asset
Management, LLC, BDF LLC, Budros, Ruhlin & Roe, Inc., Bowling
Portfolio Management LLC, Brightworth, LLC, The Cabana Group, LLC,
Congress Wealth Management, LLC, Dowling & Yahnke, LLC, Doyle
Wealth Management, LLC, One Capital Management, LLC, Portola
Partners Group LLC, Radnor Financial Advisors, The Roosevelt
Investment Group, LLC, RGT Wealth Advisors, LLC, Segall, Bryant
& Hamill, LLC, Stavis & Cohen Private Wealth, LLC, and
Surevest LLC.
CI is listed on the Toronto Stock Exchange under CIX and on the
New York Stock Exchange under CIXX. Further information is
available at www.cifinancial.com.
This press release contains forward-looking statements
concerning anticipated future events, results, circumstances,
performance or expectations with respect to CI Financial Corp.
(“CI”) and its products and services, including its business
operations, strategy and financial performance and condition.
Forward-looking statements are typically identified by words such
as “believe”, “expect”, “foresee”, “forecast”, “anticipate”,
“intend”, “estimate”, “goal”, “plan” and “project” and similar
references to future periods, or conditional verbs such as “will”,
“may”, “should”, “could” or “would”. These statements are not
historical facts but instead represent management beliefs regarding
future events, many of which by their nature are inherently
uncertain and beyond management’s control. Although management
believes that the expectations reflected in such forward-looking
statements are based on reasonable assumptions, such statements
involve risks and uncertainties. The material factors and
assumptions applied in reaching the conclusions contained in these
forward-looking statements include that the acquisition of
McCutchen Group LLC will be completed and its asset levels will
remain stable that the investment fund industry will remain stable
and that interest rates will remain relatively stable. Factors that
could cause actual results to differ materially from expectations
include, among other things, general economic and market
conditions, including interest and foreign exchange rates, global
financial markets, changes in government regulations or in tax
laws, industry competition, technological developments and other
factors described or discussed in CI’s disclosure materials filed
with applicable securities regulatory authorities from time to
time. The foregoing list is not exhaustive and the reader is
cautioned to consider these and other factors carefully and not to
place undue reliance on forward-looking statements. Other than as
specifically required by applicable law, CI undertakes no
obligation to update or alter any forward-looking statement after
the date on which it is made, whether to reflect new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20211028005283/en/
Investor Relations Jason Weyeneth, CFA Vice-President,
Investor Relations & Strategy 416-681-8779 jweyeneth@ci.com
Media Relations United States Trevor Davis,
Gregory FCA for CI Financial 443-248-0359
cifinancial@gregoryfca.com
Canada Murray Oxby Vice-President, Corporate
Communications 416-681-3254 moxby@ci.com
CI Financial (TSX:CIX)
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