The transaction is expected to increase CI’s total US assets to $ 63 billion (CAD 79 billion), continuing the company’s rapid growth in asset management.
“D&Y is our second-largest RIA acquisition to date and will be the sixth RIA in our group with assets of more than $ 5 billion,” said MacAlpine. “Our vision and value proposition continues to resonate with consultants, and we are honored that the country’s leading RIAs are choosing to partner with CI.”
Yahnke said: “Our company was founded 30 years ago with the idea of putting the well-being of our customers above everything. A strategic partnership with CI at this point allows D&Y to reach new heights by providing a higher level of professional service to those who entrust us with the responsibility of overseeing their entire financial picture.
“We are impressed with CI’s extensive wealth management experience and the caliber of companies they are putting together to build a leading national wealth management organization. Being part of CI ensures our customers improved support and service, continuous growth for our company and new opportunities for our employees. We look forward to working with CI and its other partner firms in this exciting new phase of development for the collective team. “
This transaction represents CI’s 18th RIA acquisition (including acquisitions by CI-affiliated RIAs) and is expected to increase CI’s total assets under management and asset management to approximately US $ 230 billion (CAD 289 billion) worldwide.