All financial amounts in Canadian dollars unless stated otherwise.
CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary total assets of $400.9 billion as at May 31, 2023, representing a record for the firm. Total assets consisted of asset management assets of $120.8 billion, Canadian wealth management assets of $81.1 billion, and U.S. wealth management assets of $198.9 billion.
As previously reported, CI acquired Avalon Advisors, LLC of Houston, a registered investment advisor managing approximately US$8.2 billion in client assets, effective May 1, 2023. The firm is now operating as CI Avalon Private Wealth.
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CI FINANCIAL CORP.
May 31, 2023
PRELIMINARY MONTH-END ASSETS (C$ Billions)
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ENDING ASSETS
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May
2023
|
April
2023
|
% Change
|
May
2022
|
% Change
|
|
Asset management (1)
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$120.8
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$123.4
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-2.1%
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$124.3
|
-2.8%
|
|
Canada wealth management
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$81.1
|
$82.6
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-1.8%
|
$78.2
|
3.7%
|
|
U.S. wealth management (2)
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$198.9
|
$188.9
|
5.3%
|
$147.2
|
35.1%
|
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TOTAL ASSETS
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$400.9
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$394.9
|
1.5%
|
$349.6
|
14.7%
|
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ASSET MANAGEMENT – AVERAGE AUM
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May
2022
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April
2023
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March
2023
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Fiscal
2022
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% Change
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Monthly average
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$122.1
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$122.6
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-
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-
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-0.4%
|
|
Quarter-to-date average
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$122.3
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-
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$121.9
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-
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0.3%
|
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Year-to-date average
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$122.1
|
-
|
-
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$125.0
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-2.3%
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- Includes $32.5 billion of assets managed by CI and held by clients of advisors with Assante, CIPC and Aligned Capital as at May 31, 2023 ($33.2 billion at April 30, 2023 and $32.7 billion at May 31, 2022).
- Month-end USD/CAD exchange rates of 1.3575, 1.3548 and 1.2648 for May 2023, April 2023 and May 2022, 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 Pty Ltd., which operates in Australia.
- Canadian Wealth Management, which includes the operations of CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth (Canada), Northwood Family Office, CI Direct Investing and CI Investment Services.
- U.S. Wealth Management, which includes CI Private Wealth (U.S.), 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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