CI Financial inks a deal to buy a strategic interest in Cabana Group

By Nikita Chaurasia  Date: 2020-04-22

CI Financial inks a deal to buy a strategic interest in Cabana Group

CI Financial Corp., a Canadian asset management company, has recently inked an agreement with the Cabana Group, the holding firm of Cabana Asset Management based in Arkansas, to acquire a strategic interest in the firm. With this acquisition, CI Financial has now become the biggest shareholder in the investment advisor company, possessing US$1.1 billion in assets under management.

For the record, Cabana is known for offering a comprehensive suite of wealth planning and investment management services. It also provides an extremely successful lineup of risk-managed portfolios to its retail customers and on a sub-advisory basis to advisors and RIAs in the U.S.

Reportedly, Cabana’s Target Drawdown Portfolios, which is exclusive in the U.S., have attained robust results, with each portfolio being eligible and receiving the top five-star overall rating from Morningstar Inc. Evidently, these portfolios were created with a goal of curtailing losses amidst a predetermined drawdown parameter, while proactively partaking in supportive market conditions.

Speaking on the development, Kurt MacAlpine, Chief Executive Officer, CI Financial, said that the Target Drawdown Series has managed to produce strong demand and hugely contributed to Cabana’s exponential growth.

In the present market conditions where more and more people are demanding for successful retirement solutions, the Target Drawdown Series would be an ideal and timely opportunity for these customers. Besides, it would be able to tap into a wider audience base spread across both Canada and the U.S., explained MacAlpine.

As for Chadd Mason, Co-founder and Chief Executive Officer, Cabana, the company have always been searching for a strategic partner that would help it to more widely distribute its services and products the U.S. With CI’s clear vision, financial strength, dedication to creating a client-focused RIA business and expertise in wealth and asset management could massively benefit Cabana’s market share.

Source Credit: https://www.cifinancial.com/ci-financial-continues-us-wealth-expansion-acquisition-strategic-interest-cabana-group-0

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Facebook Pages to reduce focus on Likes and followers for Indian users

Facebook Pages to reduce focus on Likes and followers for Indian users

By Nikita Chaurasia

Facebook Inc. has reportedly removed Likes from Facebook Pages for its Indian users to make the platform more user-friendly and easier to understand. This redesign of Facebook Pages was launched in January 2021 and has been rolled out for Indian user...

Merchant commerce platform Pine Labs eyeing USD 1 Bn Nasdaq listing

Merchant commerce platform Pine Labs eyeing USD 1 Bn Nasdaq listing

By Nikita Chaurasia

India is likely to witness a record number of IPOs this year, with several companies eyeing public listing to raise funds if the market sentiment remains positive. One such company, Pine Labs is reportedly planning to list itself on Nasdaq by October...

European climate group asks EU for tougher CO2 targets for truck makers

European climate group asks EU for tougher CO2 targets for truck makers

By Nikita Chaurasia

According to a recent study conducted by Europe’s Transport and Environment (T&E), the European Union (EU) should implement stricter CO2 targets for truck makers to swiftly transition to zero-emission models as present goals do not provide ...

Amazon, Google, Microsoft to join White House meeting on quantum tech

Amazon, Google, Microsoft to join White House meeting on quantum tech

By Nikita Chaurasia

Google LLC, Amazon.com Inc, and Microsoft Corp are set to join a conference on quantum technologies held by the Biden administration at the White House as the U.S. government works to ward off hacking threats and secure the flourishing quantum tech i...

U.S. aerospace manufacturers pledge to net zero emissions by 2050

U.S. aerospace manufacturers pledge to net zero emissions by 2050

By Nikita Chaurasia

U.S. aerospace firms will allegedly double down their efforts towards a climate goal by vowing to attain net-zero emissions by the year 2050, corresponding to a commitment that is to be debated by global airlines in the coming week. The U.S. Aerospa...