CIXX - CI Financial enters Pennsylvania with acquisition of Radnor Financial Advisors

CI Financial (CIXX) inks an agreement to acquire Radnor Financial Advisors, a comprehensive wealth and investment management firm serving primarily high-net-worth families in the Greater Philadelphia region.The commercial terms were not disclosed.Radnor, based in Wayne, Pa., brings ~$2.6 billion to CI’s U.S. registered investment advisor platform.“Advanced capabilities in tax advice and preparation are extremely valuable for high-net-worth clients and Radnor’s expertise in this area will be a great addition to our platform”.Emigrant Partners, LLC/Fiduciary Network, LLC, supported the transaction and is selling its minority interest in Radnor to CI.The transaction is expected to close in Q3'21, subject to regulatory approval and other customary closing conditions.

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CI Financial enters Pennsylvania with acquisition of Radnor Financial Advisors