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CI Financial snaps up 16th U.S. RIA - $4.7bn Brightworth


CI Financial snaps up 16th U.S. RIA - $4.7bn Brightworth
Tuesday, March 16, 2021
Laxman Pai, Opalesque Asia:
Less than a week after notching its 15th deal in as many months, Canadian investment management firm CI Financial announced the acquisition of an Atlanta-based registered investment advisor (RIA) with $4.7 billion in client assets.
Brightworth marks the third acquisition the Canadian company has made in 2021 and the 16th since entering the U.S. wealth management market in January 2020, pushing CI Financial s U.S. business to $55 billion in assets under management.
Terms of the deal, which is expected to close in the second quarter, were not disclosed. Once the deal closes, CI s global AUM will raise to $216 billion. ....

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CI Financial buying spree continues with Brightworth deal


CI Financial buying spree continues with Brightworth deal
Acquisition marks 16th for CI since entering the U.S. RIA market in 2020
Getty Images
CI Financial continues its acquisition spree with its agreement to purchase Brightworth, an Atlanta-based registered investment adviser with about $4.7 billion in assets under management.
Terms of the deal, which is expected to close in the second quarter, were not disclosed.
Brightworth will retain all employees and continue to operate as normal, a CI spokeswoman confirmed in an email. In addition to increasing CI s capacity and AUM, the acquisition broadens the firm s presence into Atlanta and Charlotte, N.C. ....

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Reddit frenzy boosts GameStop shares in best week since January


GameStop heads toward best week in a month amid Reddit frenzy
Divya Balji and Bailey Lipschultz, Bloomberg News
The best way to short the market at the moment is through put options: Spruce Point Capital CIO
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​GameStop Corp. shares are on track for their best week this month amid a flurry of day trader activity.
The video-game retailer has jumped more than 150 per cent so far this week, despite erasing gains of as much as 31 per cent on Friday as amateur investors continued to promote the stock on social media platforms like Reddit and StockTwits. More than 39 million shares changed hands by noon, double what’s been seen in the past week, and adding to the 233 million that traded over the past two sessions. ....

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