CI Financial Completes Acquisition of Budros, Ruhlin & Roe, a Leading Ohio RIA with US$3.5 Billion in Assets
04 Octobre 2021 - 9:56PM
Business Wire
CI Financial Corp. (“CI”) (TSX: CIX, NYSE: CIXX) today announced
it has completed the acquisition of Budros, Ruhlin & Roe, Inc.
(“BRR”), a Columbus, Ohio-based registered investment advisor
managing US$3.5 billion in assets.
BRR is a leading, high-quality RIA providing investment
management and financial planning services, primarily for
high-net-worth clients and foundations. It also offers retirement
plan management for 401(k) and pension plans. The firm, founded in
1979, has experienced strong growth and today has over 800 clients.
CI first announced the agreement to acquire BRR on August 10,
2021.
“The Budros, Ruhlin & Roe team is an outstanding addition to
our group and will make a meaningful contribution to our goal of
building the leading private wealth platform in the U.S.,” said
Kurt MacAlpine, CI Chief Executive Officer. “BRR’s success stems
from their clear focus on meeting client needs through
comprehensive, customized wealth management, an approach that’s
shared throughout CI Private Wealth.”
The acquisition increases CI’s U.S. wealth management assets to
approximately US$82 billion (C$103 billion) and continues CI
Private Wealth’s record as one of the country’s fastest-growing
wealth management platforms.
All amounts are as at August 31, 2021.
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$253.9
billion) in client assets as at August 31, 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 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/20211004005925/en/
Investor Relations Jason Weyeneth, CFA Vice-President,
Investor Relations & Strategy 416-681-8779 jweyeneth@ci.com
Media Relations Canada Murray Oxby Vice-President,
Corporate Communications 416-681-3254 moxby@ci.com
Media Relations United States Trevor Davis, Gregory FCA
for CI Financial 443-248-0359 cifinancial@gregoryfca.com
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