The Roosevelt Investment Group, Inc. (“Roosevelt”), a boutique wealth advisory firm with over 30 years of experience working with cemeteries, pre-need funeral homes, and their owners, is pleased to announce an agreement under which CI Financial Corp.

(“CI”) (TSX: CIX) will acquire 100% of the firm. Based in Toronto, CI is one of the largest independently owned firms offering global asset management and wealth management advisory services in Canada. Roosevelt will join CI as a partner firm within its expanding wealth and asset management business.

The strategic combination will bring significant value to Roosevelt’s business by providing the firm with enhanced technology and expanded resources to stay ahead of and offer solutions to meet the ever-evolving needs of its clients. Roosevelt will continue to run as an independent firm on a stand-alone basis with Adam Sheer remaining as the firm’s Chief Executive Officer. In addition, the company’s investment team, investment philosophy, and process will remain unchanged. The partnership will allow Roosevelt to continue to offer its clients the deeply personal service, objective advice and the strategic investments clients have come to expect from the firm.

CI is uniquely positioned to complement and expand on Roosevelt’s strengths. The firm is a highly regarded financial services company that has been setting the standard for investment excellence for more than 50 years and shares Roosevelt’s commitment to providing individuals and institutions with the highest-quality investments and advice. The firm is listed on the Toronto Stock Exchange and the New York Stock Exchange and, as of October 20, 2020, held approximately US $155 billion in total assets.

“CI’s expertise in asset and wealth management puts them in a unique position to understand our firm’s DNA and how we differentiate ourselves,” said Adam Sheer. “In addition, CI’s support of our commitment to the pre-need funeral service and cemetery profession makes them an ideal partner for our firm and our clients.”

The acquisition of Roosevelt, headquartered in Midtown Manhattan, expands CI’s reach to New York, the largest financial market in the world. This acquisition marks CI’s 12th registered investment advisor (“RIA”) transaction since February 2020 and continues its rapid expansion in the U.S. wealth management industry. Once completed, the addition of Roosevelt, with US$2.7 billion in assets, and other pending acquisitions, will boost CI’s U.S. wealth assets to approximately US$16.5 billion.

“We are excited to enter the New York market and thrilled to partner with Roosevelt, a firm whose deep roots in the region trace back to the family of President Theodore Roosevelt,” said Kurt MacAlpine, CI Chief Executive Officer. “Roosevelt has an extensive legacy of serving some of the most prominent families and individuals in New York – and beyond – and we are excited to provide them with the resources needed to continue to grow.”

CI’s move into the U.S. RIA sector reflects its strategic priorities of globalizing the firm and expanding its wealth management platform. Following the close of all pending transactions, CI’s North American wealth management business will have approximately $83 billion (US$63 billion) in assets, an all-time high. CI’s total asset and wealth management assets will reach a record $209 billion (US$157 billion). (Totals based on asset levels as of October 31, 2020.)


About Roosevelt Investments

Roosevelt Investments is a boutique wealth management firm located in Midtown Manhattan with more than 30 years of experience providing comprehensive financial planning and asset management services to cemeteries, pre-need funeral homes, and their owners. The firm offers investment strategies with a focus on maximizing income and an emphasis on downside protection. In addition to managing perpetual care and preneed trust assets, Roosevelt’s experienced team provides cemetery and pre-need funeral home owners with financial, estate, retirement, succession, and exit planning services. The firm advises on over US$2.7 billion in assets (as of September 30, 2020). Of those assets, over US$360 million come from working with cemeteries, pre-need funeral homes, and their owners.

For more information, visit www.rooseveltinvestments.com.

2020-12-04T09:27:17-05:00