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Kurt MacAlpine, the new CEO of CI Financial, poses for a photograph in downtown Toronto on Dec. 20, 2019.Tijana Martin/The Globe and Mail

CI Financial Corp. says it has signed a deal to acquire U.S. investment adviser Bowling Portfolio Management LLC.

The firm based in Cincinnati, Ohio, has US$450-million in assets under management.

Financial terms of the transaction were not disclosed.

Bowling provides financial planning and investment management services to high-net-worth clients.

CI has been expanding its operations in the U.S. this year in a series of acquisitions.

It says when all pending transactions close, it will hold interests in wealth management firms across the U.S. with combined assets of approximately US$11.5-billion.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 04/03/24 4:00pm EST.

SymbolName% changeLast
CIX-T
CI Financial Corp
-0.24%16.89

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