CI Financial Reports Total Assets of $482.2 Billion for May 2024

All financial amounts in Canadian dollars unless stated otherwise.

CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary total assets of $482.2 billion as at May 31, 2024, consisting of asset management assets of $129.5 billion, Canadian wealth management assets of $94.1 billion, Canadian custody assets of $28.6 billion, and U.S. wealth management assets of $230.1 billion.

Effective May 31, 2024, CI’s U.S. wealth management subsidiary, Corient, completed the acquisitions of two high-quality registered investment advisors with combined assets under management of approximately $5.6 billion (US$4.1 billion). They were Paragon Advisors Inc. of Shaker Heights, Ohio, a multi-family office that provides comprehensive wealth management services to ultra-high-net-worth families, and Socius Family Office, LLC of Fort Lauderdale, Florida, which specializes in wealth management for professional athletes.

CI FINANCIAL CORP. May 31, 2024 PRELIMINARY MONTH-END ASSETS (C$ Billions)

ENDING ASSETS

May 2024

April 2024

% Change

May 2023

% Change

Asset management (1)

$129.5

$126.8

2.1%

$120.8

7.2%

Canada wealth management

$94.1

$92.3

1.9%

$81.1

15.9%

Canada custody (2)

$28.6

$27.7

3.3%

$8.9

211.3%

U.S. wealth management (3)

$230.1

$221.2

4.0%

$199.1

15.5%

TOTAL ASSETS

$482.2

$467.9

3.1%

$410.0

17.6%

 

 

 

 

 

 

U.S. wealth management from above in USD (3)

$168.8

$160.7

5.1%

$146.7

15.1%

ASSET MANAGEMENT – AVERAGE AUM

May 2024

April 2024

March 2024

Fiscal 2023

% Change

Monthly average

$129.3

$128.1

-

-

0.9%

Quarter-to-date average

$128.7

-

$126.8

-

1.6%

Year-to-date average

$127.5

-

-

$122.1

4.5%

1. Includes $34.0 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 May 31, 2024 ($33.6 billion at April 30, 2024 and $32.5 billion at May 31, 2023).
2. Includes $25.0 billion of assets advised by CI and held by clients of advisors with Assante, CIPC, CI Direct Investing and Aligned Capital as at May 31, 2024 ($24.2 billion at April 30, 2024 and $5.2 billion at May 31, 2023). 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 1.3629, 1.3766 and 1.3575 for May 2024, April 2024 and May 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240612943528/en/

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]