CI Financial to Buy $2.5B RIA in New York

"We place immense value on their team approach to client service and focus on multi-generational planning," he continued, "and CI's backing will allow them to continue to enhance their multi-family office services and capabilities." 

Barrett CEO Peter Shriver added: "Our clients' goals and needs were at the forefront of our decision to align with CI."

Since entering the U.S. market in early 2020, CI has made 15 acquisitions. After its outstanding deals are completed, CI's total North American wealth management assets are expected to be roughly $105 billion and its total assets should reach $212 billion.

In late January, the firm said it was buying RIA and institutional asset manager Segall Bryant & Hamill, doubling its U.S. asset base to $46 billion.

The Chicago-based RIA has about $6 billion on its wealth management platform, making it CI's largest U.S. acquisition to date in terms of assets. Roughly $17 billion of the firm's assets are tied to its institutional platform, which includes traditional and alternative investment strategies.