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New Deal


Announced

CI Financial to acquire a majority stake in Surevest Wealth Management.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Asset Managers and Custodians

Pending

Acquisition

Single Bidder

Private

investment advisor

Majority

Friendly

Synopsis

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CI Financial, an independent Canadian company offering global asset management and wealth management advisory services, agreed to acquire a majority stake in Surevest Wealth Management, a Phoenix-based registered investment advisory firm. Financial terms were not disclosed. "The US has the world's largest and most accessible wealth management market and RIAs are its fastest-growing segment. As a well-capitalized company with extensive experience in wealth management and a unique value proposition relative to other firms, CI is in a strong position to acquire leading RIAs and foster their continued expansion," Kurt MacAlpine, CI Chief Executive Officer.

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