CI Financial Corp
CIX
ISIN null / Valor 4909958
CI Financial Corp
UMushroom community rating:
About company
CI Financial Corp is a diversified wealth and asset management company with a significant presence in both Canada and the United States. The company has aggressively expanded its footprint in the U.S. wealth management sector through the acquisition of numerous registered investment advisor firms, including Barrett Asset Management, Brightworth, and Segall Bryant & Hamill, among others. These acquisitions have broadened CI Financial's service offerings and client base in the U.S. market. Additionally, CI Financial has made strategic investments in alternative asset management firms and selected Miami as the location for its U.S. headquarters, signaling a strong commitment to expanding its operations in the United States. In the realm of product offerings, CI Financial has demonstrated innovation and responsiveness to market trends by developing an industry-leading suite of cryptocurrency solutions, including the CI Galaxy Bitcoin ETF and CI Galaxy Ethereum ETF, alongside mutual funds investing in bitcoin and Ether. The company has also launched a variety of other financial products, such as a private equity fund, a gold bullion ETF, liquid alternative funds, and a series of environmental, social, and governance (ESG) mandates, showcasing its ability to diversify its asset management operations and cater to a wide range of investor needs. CI Financial's commitment to providing high-quality wealth management services is evidenced by CI Assante Wealth Management's top ranking in the J.D. Power 2021 Canada Full-Service Investor Satisfaction Study, particularly in the trust category. Furthermore, the company's growth strategy includes enhancing its wealth management services through acquisitions, such as Avalon Advisors and Intercontinental Wealth Advisors, and the establishment of an in-house trust company under its Corient brand, enabling it to offer a comprehensive array of corporate trustee services. This strategic expansion and diversification of services underscore CI Financial's position as a leading player in the wealth and asset management industry.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (11.01.2026):
CI Financial Corp — results for the first quarter of 2025: CI reported a first-quarter 2025 net loss attributable to shareholders of $8.5 million (diluted EPS $(0.06)), while adjusted diluted EPS was $0.96. Reported EBITDA was $158.3 million and adjusted EBITDA attributable to shareholders was $273.9 million. The firm generated strong cash flow (operating cash flow $148.4 million; free cash flow $200.8 million) and reported total assets of $546.1 billion (up $71.9 billion or 15.2% year‑over‑year). CI paid $28.8 million of dividends ($0.20/share) and continues to progress a planned going‑private transaction with Mubadala Capital expected to close in Q3 2025.
Bottom‑line and adjusted profitability
Reported net loss attributable to shareholders: $8.5 million (Q1 2025). Adjusted net income (non‑IFRS): $140.7 million; adjusted diluted EPS: $0.96. Adjusted EBITDA (company total): $324.9 million; adjusted EBITDA attributable to shareholders: $273.9 million.
Revenue and expense trends
Total net revenues for Q1 2025 were $787.7 million (adjusted total net revenues $792.4 million). Reported total expenses were $764.3 million; adjusted total expenses were $549.7 million — the adjusted expense increase was driven by higher SG&A from acquisitions and increased depreciation/amortization.
Cash flow and liquidity
Operating cash flow: $148.4 million. Free cash flow (non‑IFRS): $200.8 million. CI closed a $500 million debenture offering maturing April 3, 2028 (closed April 1, 2025) and had total debt of ~$4.245 billion with net debt ≈ $4.10 billion; net debt to annualized adjusted EBITDA ~3.7x.
Assets under management and client assets
Total assets reported at $546.1 billion (15.2% YoY increase). Asset management AUM was $135.0 billion; Canada wealth management assets ~$101.9 billion; U.S. wealth management client assets ~$273.6 billion (reflecting acquisitions and market moves). Q1 net flows: overall asset management net outflows of $0.6 billion, with U.S. net inflows supporting growth.
M&A and Corient activity
During Q1 CI (via Corient) completed acquisitions of Geller & Co. and Rootstock Investment Management, adding roughly US$11 billion of client assets. Management cited acquisition-related SG&A and amortization as contributors to adjusted expense growth.
Capital allocation and shareholder returns
Paid dividends of $28.8 million in Q1 at $0.20 per share; a quarterly dividend of $0.20/share was also paid Apr 15, 2025 (record date Mar 31, 2025). CI repaid/issued debt during the quarter and continues active capital management while progressing the privatization transaction.
Mubadala transaction and governance impact
CI has a definitive agreement with an affiliate of Mubadala Capital to take the company private (shareholder and court approvals obtained). Closing remains subject to regulatory approvals; CI expects the transaction to close in Q3 2025. As a result, CI will not hold an earnings conference call and has obtained an exemption from holding its annual meeting before June 30, 2025.
Other balance‑sheet / operational metrics
Key operating metrics: adjusted EBITDA margin 41.0%; operating cash flow per share $1.02; free cash flow per share $1.38. Total shares outstanding at quarter‑end: ~143.38 million. Management highlighted FX and one‑time/non‑operating items in reconciling IFRS to adjusted results.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
3326 M
Market cap (USD)
411,565
Daily traded volume (Shares)
31.01 / 30.86
1 day high/low (USD)
52 weeks high/low (USD)
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