CI Financial Reports Total Assets of $511.3 Billion for July 2024

By: CI Financial Corp. via Business Wire

August 19, 2024 at 07:00 AM EDT

All financial amounts in Canadian dollars unless stated otherwise.

CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary total assets of $511.3 billion as at July 31, 2024, consisting of asset management assets of $133.3 billion, Canadian wealth management assets of $98.2 billion, Canadian custody assets of $30.3 billion, and U.S. wealth management assets of $249.4 billion. This marks the first time that CI’s total assets have surpassed the $500-billion milestone.

As previously reported, Corient, CI’s U.S. wealth management subsidiary, completed the acquisition of two registered investment advisors effective July 31, 2024. The firms, with combined assets of approximately $8.2 billion (US$5.9 billion), were Emerald Multi-Family Office (EMFO, LLC) of Weston, Florida, and Byron Financial, LLC of Charlotte, North Carolina.

CI FINANCIAL CORP. July 31, 2024 PRELIMINARY MONTH-END ASSETS (C$ Billions)
ENDING ASSETS	July 2024	June 2024	% Change	July 2023	% Change
Asset management⁽¹⁾	$133.3	$130.1	2.5%	$123.7	7.8%
Canada wealth management	$98.2	$95.6	2.8%	$83.9	17.0%
Canada custody ⁽²⁾	$30.3	$29.4	3.4%	$23.5	29.1%
U.S. wealth management ⁽³⁾	$249.4	$234.1	6.5%	$199.2	25.0%
TOTAL ASSETS	$511.3	$489.0	4.5%	$430.3	18.7%

U.S. wealth management from above in USD⁽³⁾	$180.6	$171.1	5.6%	$151.1	19.4%

ASSET MANAGEMENT – AVERAGE AUM	July 2024	June 2024	June 2024	Fiscal 2023	% Change
Monthly average	$131.9	$130.3	-	-	1.2%
Quarter-to-date average	$131.9	-	$129.2	-	2.0%
Year-to-date average	$128.6	-	-	$122.1	5.2%

1.		Includes $35.6 billion of assets managed by CI and held by clients of advisors with CI Assante Wealth Management, CI Private Counsel (CIPC) and Aligned Capital Partners as at July 31, 2024 ($34.7 billion at June 30, 2024 and $33.3 billion at July 31, 2023).
2.		Includes $26.1 billion of assets advised by CI and held by clients of advisors with Assante, CIPC, CI Direct Investing and Aligned Capital as at July 31, 2024 ($25.6 billion at June 30, 2024 and $19.7 billion at July 31, 2023).
3.		Month-end USD/CAD exchange rates of 1.3807, 1.3680 and 1.3186 for July 2024, June 2024, and July 2023, respectively.

About CI Financial

CI Financial Corp. is a diversified global asset and wealth management company operating primarily in Canada, the United States and Australia. Founded in 1965, CI has developed world-class portfolio management talent, extensive capabilities in all aspects of wealth planning, and a comprehensive product suite. CI operates in three segments:

Asset Management, which includes CI Global Asset Management, which operates in Canada, and GSFM, which operates in Australia.
Canadian Wealth Management, which includes the operations of CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth, Northwood Family Office, Coriel Capital, CI Direct Investing and CI Investment Services.
U.S. Wealth Management, which includes Corient Private Wealth, an integrated wealth management firm providing comprehensive solutions to ultra-high-net-worth and high-net-worth clients across the United States.

CI is headquartered in Toronto and listed on the Toronto Stock Exchange (TSX: CIX). To learn more, visit CI’s website or LinkedIn page.

CI Global Asset Management is a registered business name of CI Investments Inc., a wholly owned subsidiary of CI Financial Corp.