CI Financial Reports Total Assets of $482.2 Billion for May 2024
June 12 2024 - 6:00AM
Business Wire
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$4.1 billion). They were Paragon
Advisors Inc. of Shaker Heights, Ohio, a multi-family office that
provides comprehensive wealth management services to
ultra-high-net-worth families, and Socius Family Office, LLC of
Fort Lauderdale, Florida, which specializes in wealth management
for professional athletes.
CI FINANCIAL CORP. May
31, 2024 PRELIMINARY MONTH-END ASSETS (C$ Billions)
ENDING ASSETS
May 2024
April 2024
% Change
May 2023
% 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 – AVERAGE AUM
May 2024
April 2024
March 2024
Fiscal 2023
% Change
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240612943528/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 United States Jimmy Moock
Managing Partner, StreetCred 610-304-4570 jimmy@streetcredpr.com
ci@streetcredpr.com
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