Kurt MacAlpine, the new CEO of CI Financial, poses for a photograph in downtown Toronto on Dec. 20, 2019.Tijana Martin/The Globe and Mail
CI Financial Corp. says it has signed a deal to acquire U.S. investment adviser Bowling Portfolio Management LLC.
The firm based in Cincinnati, Ohio, has US$450-million in assets under management.
Financial terms of the transaction were not disclosed.
Bowling provides financial planning and investment management services to high-net-worth clients.
CI has been expanding its operations in the U.S. this year in a series of acquisitions.
It says when all pending transactions close, it will hold interests in wealth management firms across the U.S. with combined assets of approximately US$11.5-billion.
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