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 (24.02.2026):
CI Financial Corp — first quarter of 2025 (quarter ended March 31, 2025): CI reported a net loss attributable to shareholders of $8.5 million (diluted EPS $(0.06)) but an adjusted net income of $140.7 million (adjusted diluted EPS $0.96). Total net revenues were $787.7 million (adjusted total net revenues $792.4 million). Reported EBITDA was $158.3 million and adjusted EBITDA attributable to shareholders was $273.9 million. Operating cash flow was $148.4 million and free cash flow was $200.8 million. Total assets rose to $546.1 billion, and CI paid $28.8 million in dividends ($0.20 per share).
Profitability — reported vs adjusted
Reported net loss to shareholders: $8.5M (diluted EPS $(0.06)). Adjusted net income attributable to shareholders: $140.7M with adjusted diluted EPS of $0.96. The company separates significant non‑operating and acquisition-related items when presenting adjusted results.
Revenues and expenses
Total net revenues: $787.7M (adjusted net revenues $792.4M, down 0.9% from Q4 2024). Total expenses: $764.3M (adjusted total expenses $549.7M, up 2.9% sequentially driven by higher SG&A from acquisitions and more depreciation/amortization).
EBITDA and cash generation
Reported EBITDA: $158.3M. Adjusted EBITDA: $324.9M; adjusted EBITDA attributable to shareholders: $273.9M. Operating cash flow: $148.4M (operating cash flow per share $1.02). Free cash flow: $200.8M (free cash flow per share $1.38).
Assets under management and client assets
Total assets (AUM and client assets) were $546.138 billion, up $71.9B or 15.2% year‑over‑year. Asset Management AUM was ~$135.0B; Canada Wealth Management assets ~$101.9B; U.S. Wealth Management client assets ~$273.6B.
Flows and segment notes
Asset Management net flows were negative in the quarter (−$0.645B) with retail outflows; U.S. Asset Management flows were positive (+$0.311B). Management noted U.S. wealth management revenues rose on acquisitions while asset management fees were lower (Q4 had typical performance fees).
Acquisitions and strategic activity
Corient completed acquisitions of two U.S. RIAs (Geller & Co. multi‑family office and Rootstock), adding approximately US$11B in client assets. CI also closed a $500M debenture offering (maturing April 3, 2028) in March 2025.
Privatization transaction
CI entered into a definitive agreement with an affiliate of Mubadala Capital to take CI private via a court‑approved plan of arrangement. Shareholder and court approvals were obtained; closing remains subject to regulatory approvals and is expected in Q3 2025. As a result, CI will not hold an earnings conference call and has an exemption delaying its annual meeting.
Capital structure and leverage
Total debt: $4,245M; net debt: ~$4,100M (net debt to adjusted EBITDA ~3.7x). Ending shares outstanding: 143.38M. CI paid $28.8M in dividends in Q1 at $0.20 per share.
Key risks / reconciling items called out by the company
CI emphasizes significant non‑IFRS adjustments (acquisition amortization, fair value changes on contingent consideration and preferred share liability, redeemable unit accounting, FX effects, transaction costs and other items) that materially affect IFRS vs adjusted results; these are disclosed in their MD&A and non‑IFRS measures section.
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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Ratings & reviews
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