CIXX - CI Financial reports 18.6% growth in April prelim AUM

CI Financial (CIXX) reported prelim assets under management of $141B (+1.8% M/M, +18.6% Y/Y) as of Apr.30 while wealth management assets of $146.5B (+43.5% M/M, +207.1% Y/Y), indicating its highest-ever month-end levels.On Apr. 30, 2021, CI completed the earlier announced acquisitions of three U.S. registered investment advisor firms, adding $39.4B in assets to CI and more than doubling its U.S. assets.Also, Congress Wealth Management acquired Pinnacle Advisory of Columbia, MD; the company holds a strategic ownership stake in CWM and supported the acquisition financially.With these transactions, CI has made 17 acquisitions since it entered the U.S. wealth management sector in January 2020.CI Total assets as of Apr.30, 2021 stood at $287.5B (+19.5% M/M, +72.6% Y/Y).

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CI Financial reports 18.6% growth in April prelim AUM