CI Financial to acquire a majority stake in One Capital.

CI Financial, an independent Canadian company offering global asset management and wealth management advisory services, agreed to acquire a majority stake in One Capital, an investment advisor managing $1.6bn in client assets. The transaction is expected to close in the first quarter of 2020. Financial terms were not disclosed. "CI Financial is an ideal partner as we embark on the next stage of our firm's development. CI provides financial strength, capabilities in operations and technology, and the experience and expertise developed in operating one of Canada's largest wealth management firms. Most importantly, CI is fully committed to this market and to supporting our growth aspirations, which are based on a deep understanding of our clients and a marriage of investment management with advanced wealth planning," Patrick Bowen, One Capital President.