TORONTO, Oct. 1, 2020
/PRNewswire/ -- CI Financial Corp. ("CI") (TSX: CIX), and
d1g1t Inc., the first provider of an enterprise wealth management
platform powered by institutional-grade analytics and risk
management tools, today announced the significant expansion of the
strategic alliance between the two firms.
Under the terms of the expanded strategic partnership, d1g1t
Inc.'s enterprise wealth management platform will be used to help
CI Financial, a global asset and wealth management firm, to
modernize its technology platforms and further develop advanced
discretionary capabilities within its Assante Wealth Management
business and correspondent network services.
The expanded partnership is also expected to allow CI Financial
to more easily integrate its acquired U.S.-based registered
investment adviser (RIA) firms, which will be able to seamlessly
plug into d1g1t's comprehensive technology platform. This year, CI
has acquired RIA firms that manage US$11
billion in client assets (as of August 31, 2020), emerging as one of the top
consolidators of independent wealth management businesses in the
U.S. market.
"The quality of d1g1t's leadership team, the strength of its
offerings and the singularity of its approach is a combination that
none of its competitors within the industry can meet, so expanding
our relationship with them was an easy decision," said Darie
Urbanky, President and Chief Operating Officer of CI. "Having the
proper technology framework in place is crucial not only to serving
our existing businesses but also to expanding our presence
internationally, especially in the U.S. wealth management
space."
Mr. Urbanky continued, "In today's competitive landscape, it
isn't enough to bring financial capital to the table when making
acquisitions. It's also imperative to have technology that not only
streamlines the implementation process but elevates the experience
for advisors and their clients. The expansion of our strategic
partnership with d1g1t augments our capabilities to do all those
things for the firms we acquire."
The expansion of the strategic relationship between CI Financial
and d1g1t, Inc. encompasses the following:
- Assante Wealth Management, one of Canada's largest providers of wealth
management solutions to individuals, families and business owners
with approximately $46 billion in
assets (as at August 31, 2020), will
deliver access to a proprietary d1g1t trading module that provides
enhanced discretionary capabilities within separately managed
accounts (SMAs) and unified managed accounts (UMAs) for the firm's
900 financial advisors.
- CI Investment Services*, a broker-dealer that provides a wide
range of innovative brokerage and trading solutions to diverse
clients that include portfolio managers, introducing brokers and
institutional investors, will offer access for its clients to the
full spectrum of the d1g1t technology platform.
"Industry-leading technology is a critical business requirement
and essential to both the client and advisor experience," said
Sean Etherington, Assante President. "The capabilities of the
d1g1t platform will elevate our discretionary platform, broaden our
recruiting capability, support continued growth in the
high-net-worth segment and help fulfill our objective of being the
leading wealth manager in every market segment in which we
compete."
Dr. Dan Rosen, co-founder and CEO
of d1g1t, Inc., said, "We are excited to build on our strategic
relationship with CI to deliver best-in-class technology tools and
financial engineering expertise. We look forward to both supporting
the robust global expansion plans of CI Financial, while elevating
the service experience for the company's affiliated professionals
and their clients. The expansion of our partnership with CI not
only validates the unique solutions we provide, but underscores our
ability to serve large, diversified financial businesses with
ambitious growth plans, across North
America, and globally."
The announcement substantially builds out on the strategic
partnership created last year, when CI Financial agreed to deploy
the d1g1t's technology platform across the firm's advisory
businesses and acquired a minority equity stake in d1g1t, Inc.
*CI Investment Services is a registered business name of BBS
Securities Inc.
About CI Financial Corp.
CI Financial Corp. (TSX: CIX)
is an independent company offering global asset management and
wealth management advisory services. CI held approximately
$189 billion in total assets as of
August 31, 2020. CI's primary asset
management businesses are CI Investments Inc. and GSFM Pty Ltd.,
and it operates in wealth management through Assante Wealth
Management (Canada) Ltd., CI
Private Counsel LP, CI Direct Investing (WealthBar Financial
Services Inc.), CI Investment Services (BBS Securities Inc.),
Balasa Dinverno Foltz LLC, The Cabana Group, LLC, Congress Wealth
Management, One Capital Management, LLC and Surevest LLC. Further
information is available at www.cifinancial.com.
About d1g1t Inc.
d1g1t is the industry's first enterprise wealth management platform
powered by institutional-grade analytics and risk management tools
that allows firms to elevate the quality of their advice and
demonstrate its value to clients. Through a single integrated
solution that covers the entire advisory lifecycle, d1g1t provides
wealth management firms with a whole new set of capabilities
they've never had before. Headquartered in Toronto, the company was founded and is led by
an experienced financial technology team who have developed leading
enterprise portfolio systems for many of the world's banks,
institutional asset managers, hedge funds and regulators.
Visit d1g1t.com to learn more and also follow
on LinkedIn.
d1g1t, Inc. Media Contacts
Michael Dugan or Joseph Kuo
Haven Tower Group LLC
424 317 4852 or 424 317 4851
mdugan@haventower.com or jkuo@haventower.com
CI Financial Media Contacts
Murray Oxby
Vice-President, Corporate Communications
416-681-3254
moxby@ci.com
All financial amounts in Canadian dollars unless otherwise
specified.
This press release contains forward-looking statements
concerning anticipated future events, results, circumstances,
performance or expectations with respect to CI Financial Corp.
("CI") and its products and services, including its business
operations, strategy and financial performance and condition.
Forward-looking statements are typically identified by words such
as "believe", "expect", "foresee", "forecast", "anticipate",
"intend", "estimate", "goal", "plan" and "project" and similar
references to future periods, or conditional verbs such as "will",
"may", "should", "could" or "would". These statements are not
historical facts but instead represent management beliefs regarding
future events, many of which by their nature are inherently
uncertain and beyond management's control. Although
management believes that the expectations reflected in such
forward-looking statements are based on reasonable assumptions,
such statements involve risks and uncertainties. The material
factors and assumptions applied in reaching the conclusions
contained in these forward-looking statements include that the
investment fund industry will remain stable and that interest rates
will remain relatively stable. Factors that could cause
actual results to differ materially from expectations include,
among other things, general economic and market conditions,
including interest and foreign exchange rates, global financial
markets, changes in government regulations or in tax laws, industry
competition, technological developments and other factors described
or discussed in CI's disclosure materials filed with applicable
securities regulatory authorities from time to time. The foregoing
list is not exhaustive, and the reader is cautioned to consider
these and other factors carefully and not to place undue reliance
on forward-looking statements. Other than as specifically required
by applicable law, CI undertakes no obligation to update or alter
any forward-looking statement after the date on which it is made,
whether to reflect new information, future events or
otherwise.
View original
content:http://www.prnewswire.com/news-releases/ci-financial-and-d1g1t-inc-expand-strategic-alliance-to-drive-accelerated-growth-across-north-america-and-globally-301143546.html
SOURCE d1g1t
