CIXX - CI Financial to acquire Dowling & Yahnke its first San Diego location

CI Financial ([[CIXX]]) and San Diego-based registered investment advisor Dowling & Yahnke announced an agreement under which the former will acquire the latter which has $5.1B in assets.Transaction is expected to increase CI's total assets to $63B and total AUM and wealth management assets globally are seen rising to ~$230B."D&Y is our second-largest RIA acquisition to date and will be the sixth RIA in our group to have over C$5B in assets," CEO Kurt MacAlpine commented.Transaction expected to close later this quarter.Financial terms were not disclosed.

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CI Financial to acquire Dowling & Yahnke, its first San Diego location