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% |
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:
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.