Corient acquires CI Financial's Canadian ultrahigh-net-worth advisory business
Updated
Updated · Barron's · Apr 30
Corient acquires CI Financial's Canadian ultrahigh-net-worth advisory business
12 articles · Updated · Barron's · Apr 30
The Miami-based wealth manager said the June deal adds Northwood Family Office, Coriel Capital and CI private wealth advisers overseeing C$10 billion in Canada.
Chief executive Kurt MacAlpine said the expansion aims to build Corient's brand and fill a gap in serving ultrawealthy Canadian clients with investment, wealth strategy and family office services.
The move follows Corient's pending UK and Geneva acquisitions; once completed, the firm expects to advise on about $475 billion in client assets.
Is Corient's Canadian entry true market expansion or clever financial restructuring by its parent company?
How will Corient's U.S. model challenge the dominance of Canada's big banks for the ultra-wealthy?
Can Corient's 'zero friction' promise survive the complexities of its rapid global expansion?