Toronto-based CI Financial is strengthening its presence in Texas by acquiring a majority stake in Dallas-based RGT Wealth Advisors, an RIA with about $4.7 billion in wealth assets.
Tuesday’s announcement represents CI’s 10th U.S. wealth management and 13th overall acquisition this year, as well as its fourth transaction this month.
It follows the recent news of its plans to acquire $2.7 billion Roosevelt Investment Group in New York, $1.1 billion Doyle Wealth Management in Tampa and a majority interest in $570 million Stavis & Cohen Financial in Houston. The latter was CI’s second purchase of a woman-owned wealth firm.
CI also closed on its purchase of $450 million Bowling Portfolio Management in Cincinnati, Ohio, this month — a deal first announced Sept. 21.
Once completed, the addition of RGT and other pending acquisitions will boost CI’s U.S. wealth assets to about $21 billion, according to the investment management firm.