CI Financial to Acquire RegentAtlantic, a Leading US$6-Billion New York-Area Wealth Manager – Yahoo Finance

CI’s U.S. wealth management assets surpass US$100 billion in less than two years

MIAMI & TORONTO & MORRISTOWN, N.J., December 06, 2021–(BUSINESS WIRE)–CI Financial Corp. (“CI”) (TSX: CIX, NYSE: CIXX) and RegentAtlantic Capital, LLC (“RegentAtlantic”) today announced an agreement under which CI will acquire RegentAtlantic, a registered investment advisor with US$6.0 billion in assets under management.

Founded in 1982, RegentAtlantic serves high-net-worth individuals and families and institutions on the East Coast and across the United States from offices in Morristown, N.J., and New York City. It offers a comprehensive range of wealth planning services, including financial planning and investment management, customized to the needs of each client.

“RegentAtlantic’s success stems from a disciplined wealth management process focused on the distinct needs of high-net-worth clients, an approach that has created deep client loyalty and contributed to the firm’s strong growth,” said Kurt MacAlpine, CI Chief Executive Officer. “RegentAtlantic is a great strategic and cultural fit with the existing firms and leadership within CI Private Wealth and fully supports our vision of building the country’s leading wealth management firm.”

“There is an ever-growing need for quality financial advice and that presents an opportunity for firms like ours. CI Private Wealth will be the ideal partner for our team as we embark on the next phase of our growth and development,” said George Stapleton, Chief Executive Officer of RegentAtlantic. “We look forward to working with our CI Private Wealth colleagues, who represent some of America’s other leading RIAs, and are confident this collaboration will benefit our team and our clients.”

As part of the transaction, all partners in RegentAtlantic will become equity partners in CI Private Wealth, the private partnership that will hold CI’s U.S. wealth management business. As part of the transaction, Fiduciary Network, LLC (“FN”) which first invested in RegentAtlantic in 2007, exchanged convertible indebtedness of Regent into non-convertible, unsecured, fixed-interest indebtedness of CI Financial with a term of three years, subject to early repayment rights of FN and prepayment rights of CI Financial.

RegentAtlantic’s accolades include being named to the Barron’s list of Top 100 RIA Firms in 2020 and 2021, and the Financial Times list of Top 300 RIAs in 2020. The firm’s offering includes specialty service areas focused on business owners, corporate executives, non-profits, food and beverage industry entrepreneurs, women on Wall Street, retirement, senior care, and collectibles. It also provides private trust services through RegentAtlantic Private Trust and 401(K) plan management for businesses.

RegentAtlantic will deepen CI’s presence on the East Coast …….