CI Financial Inc. Q2-2021 Earnings, Price Target Update
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CI Financial Inc.(CIX) is a diversified wealth management firm and one of Canada's largest independent investment fund companies. The principal business of CI is the management, marketing, distribution and administration of mutual funds, segregated funds, exchange-traded funds, structured products and other fee-earning investment products for Canadian investors. CI also has asset management operations in Australia and New Zealand through its subsidiary GSFM. CI's products are distributed primarily through brokers, independent financial planners and insurance advisors. CI operates through two business segments, Asset Management and Asset Administration. The Asset Management segment provides the majority of CI's income and derives its revenue principally from the fees earned on the management of several families of mutual, segregated, pooled, exchange-traded and closed-end funds, structured products and discretionary accounts. The Asset Administration segment derives its revenue from providing advice and ongoing service to clients as well as fees earned on the sale of mutual funds and other financial products.CI is one of Canada's largest independent investment fund companies with assets under management of $231B as at Jun-30, 2021.
Canadian wealth management includes CI Assante Wealth Management, CI Private Counsel LP, Aligned Capital Partners Inc., CI Direct Investing (WealthBar Financial Services Inc.), CI Investment Services Inc., Lawrence Park Asset Management. The U.S. wealth management businesses consist of Barrett Asset Management, LLC, BDF LLC, Bowling Portfolio Management LLC, Brightworth, LLC, The Cabana Group, LLC, Congress Wealth Management, LLC, Dowling & Yahnke, LLC, Doyle Wealth Management, LLC, One Capital Management, LLC, Portola Capital Partners Group, Radnor Financial Advisors, The Roosevelt Investment Group, LLC, RGT Wealth Advisors, LLC, Segall, Bryant & Hamill, LLC, Stavis & Cohen Private Wealth, LLC, Surevest LLC., Marret Asset Management Inc., Aligned Capital Distributions Inc., Balasa Dinverno Foltz LLC, Bowling Portfolio Management LLC, Inc., Surevest LLC, LLC. CI has a controlling interest in its Australian subsidiary, GSFM Pty Limited.
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