Benzinga | Jun 28, 2021 07:17AM EDT

CI Financial To Acquire Radnor Financial Advisors; No Terms Disclosed

CI Financial Corp. ("CI") (TSX:CIX, NYSE:CIXX) today announced an agreement to acquire Radnor Financial Advisors ("Radnor"), a comprehensive wealth and investment management firm serving primarily high-net-worth families in the Greater Philadelphia region.

Radnor, based in Wayne, Pa., brings approximately US$2.6 billion to CI's fast-growing U.S. registered investment advisor ("RIA") platform, which now has a national presence with offices across the country. This and one other recently announced transaction are expected to increase CI's U.S. assets to approximately US$68 billion.

"Radnor Financial Advisors is an exemplary RIA that is well recognized for its best-in-class client service and team," said Kurt MacAlpine, CI Chief Executive Officer. "For over 30 years, Radnor has delivered a suite of services that encapsulate wealth and investment management. We look forward to helping them expand their services and continue to deliver for their incredible client base."