RGT Wealth Advisors, a subsidiary of Canadian wealth manager CI Financial, has acquired Dallas-based registered investment advisor (RIA) Odyssey Wealth Management for an undisclosed amount.

Odyssey provides wealth management solutions to high-net-worth (HNW) and ultra-high-net-worth (UHNW) customers. The firm manages $200m in assets with offices in Plano, Texas.

The deal takes RGT’s total assets to around $5.5bn and further bolsters its presence in Dallas region and Texas.

RGT CEO Mark Griege said: “Odyssey’s dedication to client excellence and proven experience creating bespoke solutions for high-net-worth clients closely aligns with our mission. Our combined efforts and expertise will allow us to foster deeper relationships and better results for our clients.”

Odyssey founder and CEO Brent Little added: “Joining RGT and CI Private Wealth will provide our employees and clients with the scale and resources of a much larger firm, ultimately improving the financial outcomes we seek to achieve for our clients.”

Meanwhile, CI has been accelerating its consolidation activities in the US as part of its strategy to globalise the firm.

Last week, the firm finalised an agreement to buy Seattle-based ultra-high-net-worth (UHNW) focused wealth management firm McCutchen Group, which oversees $3.4bn in assets.

It followed acquisitions of Portola Partners Group last month and of Radnor Financial Advisors in this June.

Commenting on the latest deal, CI chief executive Kurt MacAlpine said: “This combination shows the appeal and the benefits of CI’s collaborative approach and focus on meeting client needs.

“It supports the continued development of the CI Private Wealth platform through the growth of RGT, one of the country’s leading RIAs, with an exceptional leadership team, a highly experienced, expert staff, and a long-term track record of growth and success.”