Canadian asset manager CI Financial has signed an agreement to access specialised services that are provided by Emigrant Bank’s subsidiaries for ultra-high-net-worth investors.
The Canadian company signed an agreement with Emigrant Bank’s parent firm New York Private Bank & Trust to receive access to the specialised services and offer them to its US wealth management businesses.
The services will include Delaware trust administration services, personal property and casualty insurance services specifically designed for high-net-worth individuals and families, and financing and advisory services for fine art and other collectible ‘passion’ assets.
CI CEO Kurt MacAlpine said: “We are pleased to work with Emigrant to access these unique solutions on behalf of our clients across the US.
“Emigrant’s extensive experience in finance and wealth management gives them a clear understanding of the complex needs of high-net-worth and ultra-high-net-worth clients, and the Emigrant group has assembled highly qualified, expert teams to deliver exceptional service and support to clients.”
Emigrant vice-chairman Karl H. Heckenberg said: “Both Emigrant and CI appreciate the value of advice and the importance of supporting advisors in providing the clients with the best possible personalised solutions in investment, wealth and estate planning and risk management.
“We’re thrilled to expand the market for our differentiated services for ultra-high-net-worth investors through this relationship.”
As of 31 January 2021, CI managed and advised on around C$232bn ($181bn) in client assets. It has also developed a strong footprint in the US through registered investment advisor (RIA) acquisitions.
In November last year, the company acquired Houston-based RIA firm Stavis & Cohen Financial (SCF).
