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CI Financial to acquire $450 million Bowling Portfolio Management

CI Financial Corp., a Toronto, Ontario-based owner of wealth management firms in the U.S. and Canada, has agreed to acquire Bowling Portfolio Management, a Cincinnati, Ohio-based women-owned RIA managing $450 million.

The transaction, terms of which were not announced, is expected to close by the end of the year.

CI’s ownership interests in the U.S. include Balasa Dinverno Foltz of Itasca, Illinois; The Cabana Group of Fayetteville, Arkansas; Congress Wealth Management, of Boston, Massachusetts; One Capital Management, of Westlake Village, California; and Surevest, of Phoenix, Arizona.

Its North American wealth management business manages approximately US $57 billion in assets.

[More: Advisers face new M&A reality after COVID-19]



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