All financial amounts in Canadian dollars unless stated otherwise.
CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary total assets of $482.2 billion as at May 31, 2024, consisting of asset management assets of $129.5 billion, Canadian wealth management assets of $94.1 billion, Canadian custody assets of $28.6 billion, and U.S. wealth management assets of $230.1 billion.
Effective May 31, 2024, CI’s U.S. wealth management subsidiary, Corient, completed the acquisitions of two high-quality registered investment advisors with combined assets under management of approximately $5.6 billion (US$4.1 billion). They were Paragon Advisors Inc. of Shaker Heights, Ohio, a multi-family office that provides comprehensive wealth management services to ultra-high-net-worth families, and Socius Family Office, LLC of Fort Lauderdale, Florida, which specializes in wealth management for professional athletes.
CI FINANCIAL CORP.
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ENDING ASSETS |
May
|
April
|
% Change |
May
|
% Change |
Asset management (1) |
$129.5 |
$126.8 |
2.1% |
$120.8 |
7.2% |
Canada wealth management |
$94.1 |
$92.3 |
1.9% |
$81.1 |
15.9% |
Canada custody (2) |
$28.6 |
$27.7 |
3.3% |
$8.9 |
211.3% |
U.S. wealth management (3) |
$230.1 |
$221.2 |
4.0% |
$199.1 |
15.5% |
TOTAL ASSETS |
$482.2 |
$467.9 |
3.1% |
$410.0 |
17.6% |
|
|
|
|
|
|
U.S. wealth management from above in USD (3) |
$168.8 |
$160.7 |
5.1% |
$146.7 |
15.1% |
ASSET MANAGEMENT –
|
May
|
April
|
March
|
Fiscal
|
%
|
Monthly average |
$129.3 |
$128.1 |
- |
- |
0.9% |
Quarter-to-date average |
$128.7 |
- |
$126.8 |
- |
1.6% |
Year-to-date average |
$127.5 |
- |
- |
$122.1 |
4.5% |
- Includes $34.0 billion of assets managed by CI and held by clients of advisors with CI Assante Wealth Management, CI Private Counsel (CIPC) and Aligned Capital Partners as at May 31, 2024 ($33.6 billion at April 30, 2024 and $32.5 billion at May 31, 2023).
- Includes $25.0 billion of assets advised by CI and held by clients of advisors with Assante, CIPC, CI Direct Investing and Aligned Capital as at May 31, 2024 ($24.2 billion at April 30, 2024 and $5.2 billion at May 31, 2023). Prior to July 2023, custody assets were historically not included as part of reported assets for Canada wealth management or consolidated total assets.
- Month-end USD/CAD exchange rates of 1.3629, 1.3766 and 1.3575 for May 2024, April 2024 and May 2023, respectively.
About CI Financial
CI Financial Corp. is a diversified global asset and wealth management company operating primarily in Canada, the United States and Australia. Founded in 1965, CI has developed world-class portfolio management talent, extensive capabilities in all aspects of wealth planning, and a comprehensive product suite.
CI operates in three segments:
- Asset Management, which includes CI Global Asset Management, which operates in Canada, and GSFM, which operates in Australia.
- Canadian Wealth Management, which includes the operations of CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth, Northwood Family Office, Coriel Capital, CI Direct Investing and CI Investment Services.
- U.S. Wealth Management, which includes Corient Private Wealth, an integrated wealth management firm providing comprehensive solutions to ultra-high-net-worth and high-net-worth clients across the United States.
CI is headquartered in Toronto and listed on the Toronto Stock Exchange (TSX: CIX). To learn more, visit CI’s website or LinkedIn page.
CI Global Asset Management is a registered business name of CI Investments Inc., a wholly owned subsidiary of CI Financial Corp.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240612943528/en/
Contacts
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
United States
Jimmy Moock
Managing Partner, StreetCred
610-304-4570
jimmy@streetcredpr.com
ci@streetcredpr.com
