CIFAF - CI Financial to acquire Bowling Portfolio Management; ninth RIA transaction

CI Financial ([[CIFAF]]) entered into an agreement to acquire Bowling Portfolio Management, a woman-owned registered investment advisory firm with $450M in assets under management; indicating its ninth registered investment advisor ((RIA)) transaction in 2020.Post closure of all pending transactions, CI will hold interests in wealth management firms across the U.S. with combined assets of ~$11.5B (based on assets as of Aug. 31, 2020).Blowing acquisition forays CI's presence in Cincinnati, a strategically important business hub; Darren Kawesh will be named as president&CEO while Kathy Wayner will remain with the firm in a consulting capacity, post transaction closure."With our recent acquisition of Balasa Dinverno Foltz of Itasca, Illinois, our CI Private Wealth companies will be managing ~$5B of high-net-worth assets in the Midwest," CEO Kurt MacAlpine commented.Terms not disclosed; transaction scheduled to close later this year.

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CI Financial to acquire Bowling Portfolio Management; ninth RIA transaction