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Deals Of The Day: The Latest In Wealth Management M&A – MAI Capital Management, Monarch, CI Financial

Editorial Staff

4 January 2022

MAI
today said that it has completed acquisitions of four registered investment advisor firms, adding around $24 billion in assets to its US CI Private Wealth business.

The acquired RIAs are Columbia Pacific Wealth Management of Seattle, Gofen & Glossberg, of Chicago, RegentAtlantic Capital, of Morristown, New Jersey, and R H Bluestein & Co of Birmingham, Michigan. 

The Toronto-based group said that it has also completed the acquisition of minority stakes in alternative investment firms Columbia Pacific Advisors, of Seattle and GLAS Funds, of Cleveland. 

The six transactions, which were previously announced in November and December 2021, were closed by December 31, 2021.

During 2021, CI added 15 RIAs to CI Private Wealth, which now consists of 23 RIAs across the US, and grew US assets from $23 billion to about $115 billion.