All financial amounts in Canadian dollars unless stated
otherwise.
CI Financial
Corp. (“CI”) (TSX: CIX,
NYSE: CIXX) today reported preliminary assets under management as
at August 31, 2021 of $150.0 billion and wealth management assets
of $170.3 billion, for total assets of $320.4 billion.
On August 31, 2021, CI
completed the previously announced acquisition of Radnor Financial
Advisors, LLC, a registered investment advisor based in Wayne, Pa.,
adding $3.4 billion in wealth management assets.
CI FINANCIAL CORP.
August 31, 2021
PRELIMINARY MONTH-END ASSETS
(C$ Billions)
ENDING ASSETS
August 2021
July 2021
% Change
August 2020
% Change
Core assets under management (Canada and
Australia) (1)
$142.9
$140.0
2.1%
$126.1
13.3%
U.S. assets under management
$7.2
$6.9
4.3%
$4.5
60.0%
Total assets under management
$150.0
$146.9
2.1%
$130.6
14.9%
Canadian wealth management
$78.4
$76.3
2.8%
$51.3
52.8%
U.S. wealth management (2)
$91.9
$86.2
6.6%
$8.2
1020.7%
Total wealth management
$170.3
$162.6
4.7%
$59.5
186.2%
TOTAL
$320.4
$309.5
3.5%
$190.1
68.5%
CORE AVERAGE AUM
August 2021
July 2021
June 2021
2020
% Change
Monthly average
$141.5
$139.3
--
--
1.6%
Quarter-to-date average
$140.4
--
$135.9
--
3.3%
Year-to-date average
$135.5
--
--
$124.1
9.2%
(1)
Includes $35.4 billion of assets managed
by CI and held by clients of advisors with CI Assante Wealth
Management, CI Private Counsel LP and Aligned Capital Partners Inc.
as at August 31, 2021 ($34.8 billion at July 31, 2021 and $29.2
billion at August 31, 2020).
(2)
Excludes the previously announced
acquisition of Budros, Ruhlin & Roe, Inc. of Columbus, Ohio,
which is expected to close in the fourth quarter of 2021.
About CI Financial
CI Financial Corp. is an independent company offering global
asset management and wealth management advisory services. 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, 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, Radnor Financial
Advisors, LLC, 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 Budros,
Ruhlin & Roe 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210913005802/en/
Investor Relations Jason Weyeneth, CFA Vice-President,
Investor Relations & Strategy 416-681-8779 jweyeneth@ci.com
Media Relations Canada Murray Oxby Vice-President,
Communications 416-681-3254 moxby@ci.com United States Trevor
Davis, Gregory FCA for CI Financial 610-415-1145
cifinancial@gregoryfca.com
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