We may earn commissions if you use the recommended services on this site.  

CI Financial Announces July 2023 Total Assets of $430.3 Billion

Latest Business News

CI Financial Reports $430.3 Billion in Total Assets for July 2023

CI Financial Corp. (TSX: CIX) has announced its preliminary total assets of $430.3 billion as of June 30, 2023. This includes 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. The company now includes its Canadian custody assets in its reported assets to reflect the growing significance of this business. CI Financial's recent acquisition of Intercontinental Wealth Advisors, LLC, a registered investment advisor firm based in San Antonio, Texas, has also contributed to its expanding portfolio. The company's total assets have shown a 5.4% increase from the previous year, indicating continued growth and success in its various segments. CI Financial operates in asset management, Canadian wealth management, and U.S. wealth management, offering a comprehensive range of services to clients across Canada, the United States, and Australia. The recent financial report from CI Financial Corp. revealing a staggering $430.3 billion in total assets as of June 2023, could have significant implications for new businesses in the financial sector. The company's growth, reflected in a 5.4% increase in total assets from the previous year, underscores the potential for success in the asset management and wealth management sectors. For new businesses, this could signal a lucrative market to tap into. The inclusion of Canadian custody assets in CI Financial's reported assets also highlights the growing importance of this segment, suggesting an opportunity for new businesses to explore this underrepresented area. Furthermore, CI Financial's recent acquisition of Intercontinental Wealth Advisors, a Texas-based investment advisory firm, indicates a trend towards consolidation in the industry. This could lead to increased competition for new businesses but also presents potential partnership or acquisition opportunities. Finally, CI Financial's operations across Canada, the U.S., and Australia demonstrate the global scope of the financial services industry, suggesting that new businesses should consider international markets for expansion. Overall, CI Financial's robust financial performance provides valuable insights for new businesses looking to enter or expand in the financial sector.
Story First Published at: https://financialpost.com/pmn/business-wire-news-releases-pmn/ci-financial-reports-total-assets-of-430-3-billion-for-july-2023
Brought to you by BusinessFormation.io
Know Your State's Registered Agent Requirements: What is a Registered Agent
Learn How To Create An LLC: What Is An LLC and How To Start an LLC Online
Business Formation Services: View Top 3 Online LLC Filing Companies

LLC Filing & Registered Agent Services

Compare Online LLC Filing Services Today

We work with the market leaders in business formation and registered agent services.

Getting started is simple and inexpensive. Form your business today & secure your brand name before someone beats you to it! Click below to view the Top 3 Best LLC and registered agent service providers.
View Top 3 Providers Now

Filing An LLC Can Be Complicated

Streamline Your LLC Filing Online for $39

Northwest Registered Agent is the best-rated service for first time filers.

Get professional LLC formation & registered agent services for only $39 + state filing fee. This offers includes your full LLC setup, plus a private business address, lifetime support, and more.

Trusted by Millions. Save 82% Today.