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Laxman Pai, Opalesque Asia:

Less than a week after notching its 15th deal in as many months, Canadian investment management firm CI Financial announced the acquisition of an Atlanta-based registered investment advisor (RIA) with $4.7 billion in client assets.

Brightworth marks the third acquisition the Canadian company has made in 2021 and the 16th since entering the U.S. wealth management market in January 2020, pushing CI Financial's U.S. business to $55 billion in assets under management.

Terms of the deal, which is expected to close in the second quarter, were not disclosed. Once the deal closes, CI's global AUM will raise to $216 billion.

The firm announced on March 11 that it had agreed to buy New York-based registered investment adviser Barrett Asset Management. In January, CI announced plans to purchase Segall Bryant & Hamill. In November, CI said it was buying a majority ownership stake in RGT Wealth Advisors.

CI's U.S expansion reflects its strategic priorities of globalizing the firm and expanding its wealth management platform, said a press release. As part of this, CI will extend the CI Private Wealth brand to its operations in the United States in the months ahead.

"We're thrilled that the dynamic team at Brightworth has chosen to join CI," said CI Chief Executive Officer Kurt MacAlpine. "They have built an exceptional firm based on a comprehensive, multi-generational approach to wealth planning combined with outstanding service. Addi......................

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