New Acquisition 07:25 AM EDT, 06/28/2021 (MT Newswires) -- CI Financial Corp. (TSX: CIX; NYSE: CIXX), near 52 week highs in both Canada and the United States, announced Monday an agreement to acquire Radnor Financial Advisors, a wealth and investment management firm serving primarily high-net-worth families in the Greater Philadelphia region.
Radnor, based in Wayne, Pa., brings approximately US$2.6 billion to CI's fast-growing U.S. registered investment advisor platform, which now has a national presence with offices across the country. This and one other recently announced transaction are expected to increase CI's U.S. assets to approximately US$68 billion. According to a statement, this boosts total assets to C$298 billion (US$247 billion).
All asset amounts are as at May 31, 2021. This transaction is expected to close in the third quarter of 2021, subject to regulatory approval and other customary closing conditions.
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