CI Financial Surpasses $500 Billion in Assets, Showcasing Robust Growth Across Segments

CI Financial Corp., a diversified global asset and wealth management company, has reported preliminary total assets of $518.1 billion as of September 30, 2024, marking a significant milestone in the company's growth trajectory. The impressive figures showcase the firm's ability to navigate the evolving financial landscape and deliver exceptional value to its clients across Canada, the United States, and Australia.

Driving Expansion and Diversification in the Wealth Management Landscape

Robust Asset Management Performance

CI Financial's asset management segment has demonstrated remarkable resilience, with assets under management (AUM) reaching $135.4 billion as of September 30, 2024, a 13.7% increase from the previous year. The company's strategic focus on developing world-class portfolio management talent and expanding its product suite has enabled it to capitalize on the growing demand for sophisticated investment solutions. The quarterly sales results further underscore the segment's performance, with the asset management division reporting net inflows of $0.1 billion in the third quarter of 2024.

Thriving Canadian Wealth Management

The Canadian wealth management segment has also experienced substantial growth, with assets reaching $100.1 billion as of September 30, 2024, a 22.9% increase from the previous year. This impressive performance can be attributed to the company's comprehensive wealth planning capabilities and its extensive network of advisors, including CI Assante Wealth Management, Aligned Capital Partners, and CI Private Counsel. The integration of these wealth management platforms has allowed CI Financial to provide holistic financial solutions to its clients, catering to their diverse needs and preferences.

Accelerating U.S. Wealth Management Expansion

The company's U.S. wealth management segment has been a key driver of growth, with assets reaching $250.6 billion as of September 30, 2024, a 27.2% increase from the previous year. This remarkable performance can be attributed to the strategic acquisition and integration of Corient Private Wealth, an integrated wealth management firm serving ultra-high-net-worth and high-net-worth clients across the United States. The seamless integration of Corient's expertise and CI Financial's global resources has enabled the company to deliver comprehensive wealth management solutions to its expanding client base in the U.S. market.

Diversifying Through Australian Asset Management

In addition to its strong presence in Canada and the United States, CI Financial has also made significant strides in the Australian market through its asset management segment. The company's Australian asset management division, which operates under the GSFM brand, has reported net inflows of $0.2 billion in the third quarter of 2024, showcasing the firm's ability to capitalize on the growing demand for specialized investment solutions in the Asia-Pacific region.

Enhancing Operational Efficiency and Profitability

Alongside its impressive asset growth, CI Financial has also maintained a strong focus on operational efficiency and profitability. The company's preliminary quarter-end sales results indicate a net management fee rate of 79.5 basis points in the third quarter of 2024, demonstrating the firm's ability to optimize its fee structure and drive sustainable financial performance.

Positioning for Continued Success

CI Financial's remarkable achievements in the third quarter of 2024 underscore the company's strategic vision and its commitment to delivering exceptional value to its clients. By leveraging its diversified business model, world-class investment expertise, and comprehensive wealth management capabilities, CI Financial is well-positioned to capitalize on the evolving financial landscape and drive continued growth in the years to come.