CI Financial Reports Total Assets of $420.7 Billion for October 2023

All financial amounts in Canadian dollars unless stated otherwise.

CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary total assets of $420.7 billion as at October 31, 2023, consisting of asset management assets of $117.1 billion, Canadian wealth management assets of $80.7 billion, Canadian custody assets of $23.4 billion, and U.S. wealth management assets of $199.4 billion.

As previously announced, CI completed the acquisition of Windsor Wealth Management Inc., an Indianapolis-based registered investment advisor, in October.

CI FINANCIAL CORP.

October 31, 2023

PRELIMINARY MONTH-END ASSETS (C$ Billions)

ENDING ASSETS

October

2023

September

2023

% Change

October

2022

% Change

Asset management (1)

$117.1

 

$119.0

 

-1.6

%

$116.4

 

0.6

%

Canada wealth management

$80.7

 

$81.5

 

-1.0

%

$76.2

 

5.9

%

Canada custody (2)

$23.4

$23.4

0.0

%

$6.8

244.1

%

U.S. wealth management (3)

$199.4

 

$197.0

 

1.2

%

$171.9

 

16.0

%

TOTAL ASSETS

$420.7

 

$421.0

 

-0.1

%

$371.3

 

13.3

%

ASSET MANAGEMENT – AVERAGE AUM

October

2023

September

2023

September

2023

Fiscal 2022

% Change

Monthly average

$118.0

 

$121.2

 

-

 

-

 

-2.6

%

Quarter-to-date average

$118.0

-

$122.1

-

-3.4

%

Year-to-date average

$121.6

 

-

 

-

 

$125.0

 

-2.7

%

1. Includes $31.2 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 October 31, 2023 ($31.8 billion at September 30, 2023 and $31.1 billion at October 31, 2022).
2. Includes $19.6 billion of assets advised by CI and held by clients of advisors with Assante, CIPC, CI Direct Investing and Aligned Capital as at October 31, 2023 ($19.7 billion at September 30, 2023 and $4.4 billion at October 31, 2022). Prior to July 2023, custody assets were historically not included as part of reported assets for Canada wealth management or consolidated total assets.
3. Month-end USD/CAD exchange rates of 1.3867, 1.3582 and 1.3623 for October 2023, September 2023 and October 2022, 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 Pty Ltd., which operates in Australia.
• Canadian Wealth Management, which includes the operations of CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth (Canada), Northwood Family Office, Coriel Capital Inc., 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.

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Investor Relations Jason Weyeneth, CFA Vice-President, Investor Relations & Strategy 416-681-8779 [e-mail]

Media Relations Canada Murray Oxby Vice-President, Corporate Communications 416-681-3254 [e-mail]

United States Jimmy Moock Managing Partner, StreetCred 610-304-4570 [e-mail] [e-mail]