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

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240819861068/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]