TORONTO--(BUSINESS WIRE)--CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary total assets of $430.3 billion as at July 31, 2023, consisting of asset management assets of $123.7 billion, Canadian wealth management assets of $83.9 billion, Canadian custody assets of $23.5 billion, and U.S. wealth management assets of $199.2 billion.
CI is now reporting its Canadian custody assets, which are administered by CI Investment Services Inc. (“CIIS”), to reflect the growing significance of this business. This follows the conversion of client assets at Aligned Capital Partners Inc. to the CIIS platform in July 2023. Custody assets were historically not included as part of reported assets for Canada wealth management or consolidated total assets.
Also in July, CI acquired Intercontinental Wealth Advisors, LLC, a registered investment advisor firm based in San Antonio, Texas.
CI FINANCIAL CORP. July 31, 2023 PRELIMINARY MONTH-END ASSETS (C$ Billions) |
|||||
ENDING ASSETS |
July
|
June
|
% Change |
July
|
% Change |
Asset management (1) |
$123.7 |
$122.4 |
1.1% |
$121.4 |
1.9% |
Canada wealth management |
$83.9 |
$82.6 |
1.6% |
$77.4 |
8.4% |
Canada custody (2) |
$23.5 |
$9.1 |
158.2% |
$6.6 |
256.1% |
U.S. wealth management (3) |
$199.2 |
$194.1 |
2.6% |
$149.7 |
33.1% |
TOTAL ASSETS |
$430.3 |
$408.2 |
5.4% |
$355.0 |
21.2% |
ASSET MANAGEMENT – AVERAGE AUM |
July
|
June
|
June
|
Fiscal
|
% Change |
Monthly average |
$122.8 |
$121.8 |
- |
- |
0.8% |
Quarter-to-date average |
$122.8 |
- |
$122.1 |
- |
0.6% |
Year-to-date average |
$122.1 |
- |
- |
$125.0 |
-2.3% |
- Includes $33.3 billion of assets managed by CI and held by clients of advisors with Assante, CI Private Counsel (CIPC) and Aligned Capital as at July 31, 2023 ($32.8 billion at June 30, 2023 and $32.3 billion at July 31, 2022).
- Includes $19.7 billion of assets advised by CI and held by clients of advisors with Assante, CIPC, CI Direct Investing and Aligned Capital as at July 31, 2023 ($5.4 billion at June 30, 2023 and $4.3 billion at July 31, 2022).
- Month-end USD/CAD exchange rates of 1.3186, 1.3248 and 1.2806 for July 2023, June 2023 and July 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.
