CI Private Wealth to Establish Trust Company – Yahoo Finance

Move highlights continued development of fast-growing private wealth firm

MIAMI & TORONTO, May 10, 2022–(BUSINESS WIRE)–CI Private Wealth US, LLC (“CIPW”), a subsidiary of CI Financial Corp. (“CI”) (TSX: CIX, NYSE: CIXX), announced today that it has applied for a charter to establish and operate a South Dakota trust company (“CI Trust”). Once chartered, CI Trust will offer administrative trust solutions to clients through CIPW’s national wealth management platform.

“CI Trust will allow us to offer clients a variety of robust trust solutions and further enhance the elite client experience that CI Private Wealth provides,” said Kurt MacAlpine, Chief Executive Officer of CI.

“Trusts are a critical part of meeting the complex wealth management and estate planning needs of ultra-high-net-worth and high-net-worth clients. CI Trust will offer comprehensive, customized administrative trust solutions designed to satisfy each client’s goals, while CIPW manages the trust’s assets to ensure alignment with the client’s overall wealth management plan.”

CI entered the U.S. registered investment advisor (“RIA”) sector in January 2020 and quickly became one of the fastest-growing wealth management firms in the U.S. Once all outstanding acquisitions are completed, CI’s U.S. assets will reach approximately US$134 billion (based on assets as of March 31, 2022).

“Establishing CI Trust is an important step in our mission of building the country’s leading wealth management firm for ultra-high-net-worth and high-net-worth investors,” Mr. MacAlpine said. “It will build on other successful enhancements to our service offerings, such as the launch earlier this year of our Family Office Services platform, which completed approximately 1,000 tax returns for our clients in its first year of operation.”

About CI Financial

CI Financial Corp. is an integrated global wealth and asset management company. CI managed and advised on approximately US$295.7 billion (C$370.2 billion) in client assets as at March 31, 2022. CI’s primary asset management businesses are CI Global Asset Management (CI Investments Inc.) and GSFM Pty Ltd., and it operates in Canadian wealth management through CI Assante Wealth Management (Assante Wealth Management (Canada) Ltd.), CI Private Counsel LP, Aligned Capital Partners Inc., Northwood Family Office Ltd., CI Direct Investing (WealthBar Financial Services Inc.), and CI Investment Services Inc.

CI’s U.S. wealth management businesses consist of Barrett Asset Management, LLC, Balasa Dinverno Foltz LLC, Bowling Portfolio Management LLC, Brightworth, LLC, BRR OpCo, LLC (Budros, Ruhlin & Roe), The Cabana Group, LLC, Corient Capital Partners, LLC, CPWM, LLC (Columbia Pacific Wealth Management), Congress Wealth Management LLC, Dowling & Yahnke, LLC, Doyle Wealth Management, LLC, Galapagos Partners, LP, Gofen & Glossberg, …….