CI Financial Sub-Acquires $2.4B AUM Pinnacle Advisory Group
CI Financial’s affiliate Congress Wealth Management's AUM balloons to $5.8 billion. CI Financial’s sub-acquisitions are helping to supersize the RIA acquirer. The firm's Congress Wealth Management has acquired Pinnacle Advisory Group, according to an announcement. The acquisition brings $2.4 billion in assets under management to Boston-based Congress, raising its AUM by 70% to $5.8 billion. Parent company CI Financial, based in Canada, now stands at $58 billion in AUM with direct investments in 13 registered investment advisory firms, according to Monday's announcement. Pinn...
Source: wealthmanagement.com