MIAMI & TORONTO–(BUSINESS WIRE)–CI Financial Corp. (TSX: CIX, NYSE: CIXX) today announced it has completed the acquisition of Budros, Ruhlin & Roe, Inc., 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.
