CIXX - CI Financial to acquire private client firm R.H. Bluestein
CI Financial (NYSE:CIXX) and R.H. Bluestein announced an agreement wherein the former will acquire majority interest in the latter; Bluestein is a Birmingham, Michigan and New York-based private client firm overseeing $4.1B in assets. Bluestein will be CI's first registered investment advisor in the Metro Detroit area and in Michigan, strengthening CI’s substantial presence in the Midwest, where CI RIAs currently manage ~$35B from offices in Chicago, Cincinnati and Columbus, Ohio. With the closing of this and other recently announced transactions, CI's assets in its U.S. wealth management business are expected to reach $87.5B and CI’s total assets globally are expected to reach $264B. This transaction is expected to close later this quarter.
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CI Financial to acquire private client firm, R.H. Bluestein