M&A Deal Summary

CI Financial Acquires WealthBar Financial Services.

On December 14, 2018, CI Financial acquired financial services company WealthBar Financial Services.

Acquisition Highlights
  • This is CI Financial’s 2nd transaction in the Financial Services sector.
  • This is CI Financial’s 2nd transaction in Canada.
  • This is CI Financial’s 1st transaction in British Columbia.

M&A Deal Summary
Date 2018-12-14
Target WealthBar Financial Services.
Sector Financial Services
Buyer(s) CI Financial
Deal Type Add-on Acquisition
Advisor(s) BMO Capital Markets (Financial)
Osler (Legal)

Target

WealthBar Financial Services.

Vancouver, British Columbia, Canada
WealthBar Financial Services. Inc. is an online wealth management and financial planning platform offering premium online investing portfolios and low-fee ETFs, along with unlimited commission-free advice. The company offers a diverse service and product offering that combines technology with human advisors for a personalized experience. This “hybrid model” provides the opportunity for engagement between clients and advisors depending on the wealth planning services required. WealthBar was formed in 2012 and is based in Vancouver, British Columbia.

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Buyer(S) 1

Buyer

CI Financial

Toronto, Ontario, Canada
Category Company
Founded 1965
Sector Financial Services
Revenue 3.1B CAD (2023)
DESCRIPTION

CI Financial is an independent company offering global asset management and wealth management advisory services. CI Financial was incorporated in 1965 and is headquartered in Toronto, Ontario.

DEAL STATS #
Overall 2 of 20
Sector (Financial Services) 2 of 15
Type (Add-on Acquisition) 1 of 18
State (British Columbia) 1 of 1
Country (Canada) 2 of 3
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-14 Lawrence Park Asset Management

Toronto, Ontario, Canada

Lawrence Park Asset Management is an alternative asset manager focusing on fixed-income and credit strategies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-21 The Cabana Group

Fayetteville, Arizona, United States

The Cabana Group LLC provides a comprehensive suite of services to clients and advisor partners from offices in Arkansas, Texas, and Colorado. Its services include wealth management, portfolio construction, retirement plan solutions, tax and estate planning, business development, insurance, annuities, and sub-advisory money management. The Cabana Group was formed in 2007 and is based in Fayetteville, Arizona.

Buy -
Mergr

Product

Company

Legal