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CI Financial Corp., a Canadian asset management and wealth management advisory firm, recently entered into an agreement to purchase Radnor Financial Advisors, an independent fee-based wealth management firm in the Philadelphia area, for an un disclosed.
Wayne-based Radnor was founded in 1989. Her clients include senior corporate executives and high-net-worth individuals and families, and she specializes in financial planning and executive compensation. It also offers tax preparation fiduciary services and a complete accounting and income tax division.
The addition of Radnor will increase CI’s US assets by approximately $68 billion.
“We are excited to join the growing CI network of like-minded companies to continue Radnor’s growth, with a clear focus on providing superior customer service, maintaining fiduciary responsibility and expanding career opportunities for our people,” said Michael Mattise, President and Director of Radnor. chief investment officer, said.
The transaction is expected to close in the third quarter and is subject to regulatory approval and other customary closing conditions. Once the transaction closes, CI’s assets are expected to total $247 billion.
Since January 2020, CI has completed 19 acquisitions in the United States. This makes it one of the fastest growing wealth management platforms in the country.
