CI Financial Strikes 10th U.S. Wealth Deal of the Year

Once completed, the addition of RGT and other pending acquisitions will boost CI's U.S. wealth assets to about $21 billion, according to the investment management firm.

After the close of all pending transactions, CI's North American wealth management business will have $68 billion in wealth management assets and total assets of about $164 billion, up from $152 billion on Oct. 31, it says.

More on the Texas-based RIA

RGT offers financial planning services to high-net-worth individuals and family office services in Texas and across the U.S. It is CI's "largest U.S. acquisition by assets to date [and] a growing firm with an exceptional team, strong leadership and well-developed expertise attuned to the needs of their clients," according to CI CEO Kurt MacAlpine.

RGT "will maintain a meaningful ownership stake in our business and continue to build on our 35-year entrepreneurial legacy," explained RGT CEO Mark Griege.

CI's resources "will allow us to enhance our investment options, family office services and technology —  ensuring that RGT continues to serve our clients at the highest level for generations to come," he said in a statement.

CI bought the interest in RGT Wealth for an undisclosed amount of cash and shares. The transaction is expected to close in the fourth quarter of 2020.