kurt macalpine married

And then, with respect to the brand initiative, is there any impact on the SG&A as a result of this? The second part of our institutional business would be the retirement space, typically working with employers on to find contribution plans. Harbour in the old model prior to this week had the ability to deliver $3 billion to $4 billion of total scale. Financial industry executive Kurt MacAlpine will become the new CEO of independent asset management giant CI Financial Corp. MacAlpine, who takes over as chief executive from Peter Anderson on Sept. 1, was previously executive vice president and head of global distribution for WisdomTree Asset Management in New York. I announced on our Q1 earnings call in May that we were planning a corporate rebranding aimed at streamlining and simplifying our business removing unnecessary complexity and making it easier for our clients to do business with us. Prior to Nortel, Mr. Kelterborn was a partner at McMillan Binch (now McMillan LLP), practising in the firms corporate/commercial and securities law groups. So the ability to buy scale and wealth management given where we're focused, doesn't really exist. Thanks very much. Is that something that is -- well how does that prioritize for you? As everyone knows M&A in and of itself is quite lumpy. So historically, a lot of our flows and assets sit with legacy MFDA advisers that have been in the industry for an extended period of time. We rolled out what we believe is Canada's first machine learning model or predictive algorithm for sales and marketing process in Canadian asset and wealth management. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. On that wealth management slide, the -- I guess the EBITDA progression year-to-date from $15 million to $73 million. So Tom, we don't typically break out the margin. Good morning. I was isolating and looking at the business as it stands today and the percentage and dollar of assets that we have tied to sub-advisory mandates linked to bank and insurance on platforms that have their own capabilities internally. As I said in the press release announcing this webcast, the last few weeks have been unprecedented, with the coronavirus having a significant impact on our society, our economy, and the global in mathematics and physics from Universit de Montral. CEOs radical remake accompanied by staff exodus, higher debt, Chairman says of employee complaints: I could care less. I want to be clear that this is not a forecast. CIs total assets have grown to $241 billion (at March 31, 2021) since he joined the company. in mathematics and physics from Universit de Montral. Because every -- the one thing is we see a lot of businesses as you could imagine given the number of transactions we've done, every single firm that we come across, I guarantee does something better than every other firm. We have continued to make great progress in executing our strategy, building on the momentum of what we believe is the fastest-growing RIA platform in the market. They want to benefit from an integrated platform. WebKurt MacAlpine Chief Executive Officer and Director, CI Financial Mr. MacAlpine was appointed Chief Executive Officer and Director of CI Financial in September 2019. So some of the deals that we are doing are part of an auction process we're participating. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. So when we look at opportunities there's two things that have to remain intact for us to be willing to do a deal. I'd say, it's directionally in the right direction, Gary. Mr. Urbanky holds an MBA from Rotman School of Business and a masters degree in computer science from University of Toronto and has attended leadership and management programs at Queens School of Business. document.write(CurrentYear) Please. I will now provide an update on the progress we've made on some of our strategic initiatives. Good morning, everyone, and welcome to CI Financial's third quarter earnings call. Welcome to Barrons Advisor! If you fast forward to today just looking at the deals, we've done over the past six or seven months, we believe we have the fastest-growing RIA platform ever. Wallmine is a radically better financial terminal. I am optimistic that we're going to work through the redemptions and put ourselves on a better path forward. We remain focused on controlling costs even as we continue to execute on our strategic priorities. CI Financial Corp.s CIX-T chief executive Kurt MacAlpine saw one of the largest jumps in total compensation, to $10.60-million, up more than 75 per cent from Now unlike wealth management where you can diversify through smaller transactions, in asset management you really have to do something larger in nature just because if you were to pivot and extend beyond the Canadian marketplace you would need to have a platform that has embedded retail relationships, institutional coverage, platform approvals and things like that. This copy is for your personal, non-commercial use only. And then from there you'd have to determine, obviously, what percentage do you think ultimately will move. So where we come in is we come in -- in the middle. We retired $26 million of debt, and we paid $39 million in dividends. These instruments preserve capital, offer stable income and protect against volatility. Thank you. He has been with CI Global Asset Management for over 20 years, serving in progressively more senior roles in Information Technology. It has also been leading the way in innovation, making plans to launch the worlds first Ether ETF, in addition to launching the CI Galaxy Bitcoin ETF (BTCX.B and BTCX.U) in March. Sure. Addresses View Full Report. So the approach would be different. So you are right, through the legacy model we had, we naturally have a lot of overlapping and redundant capabilities which over time might clear themselves up, but that wasn't the reason we initiated this process, and it hasn't been a focus for us so far. articles a month for anyone to read, even non-subscribers! Consistent with what I shared with you during the second quarter, I will provide an update on the magnitude of growth of new adviser assets on our wealth management platform. I don't like to give guidance on anything as I think oftentimes it's just guessing. Once we started to do deals in this space we started to hit the radar of a lot of the banks that are working with these firms to help them transact. In addition to inorganic growth, the companies we've acquired are also experiencing strong organic growth. The revenue earned on these assets is recorded in the asset management segment. He holds a PhD in theoretical physics from Pierre and Marie Curie University (now Sorbonne University), and an M.Sc. Prior to joining First Asset, Mr. Kelterborn was Vice-President and General Counsel of Claymore Investments Inc. (now part of BlackRock). Please complete the form below and click on subscribe for daily newsletters from Wealth Professional. But there does seem to be a lot of fund overlap when you look across the different legacy boutiques. Joining me on today's call is our CFO, Doug Jamieson; and our new Vice President of Investor Relations and Strategy, Jason Weyeneth. He was also a member of the CDPQ asset allocation committee. He has extensive experience in the global asset and wealth management industry, having previously served as Executive Vice-President and Head of Global Distribution for WisdomTree Asset Management and as a Partner and Leader of the North American Asset Management Practice at McKinsey & Company. There will be over time, but that wasn't really the focus of the effort. After closing the transactions, we've announced over the past few days, we will have added $31.2 billion in new assets to our platform so far this year with two months left to go. When you think about asset management acquisitions, there's probably two types of acquisitions that would potentially make sense for CI. Yes. Mr. MacAlpine holds a Bachelor of Commerce degree from Saint Marys University and an MBA from Queens University. Newcom Media Inc. We use cookies to make your website experience better. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. To read this article, please provide the information below so we can confirm that you work in the industry. Just following on that maybe on that $2.50 billion to $3 billion institutional that you mentioned earlier. In this series of videos and articles, TD Wealth professionals share practical strategies that helped them build rewarding careers. But it is something that we're monitoring. Our signage has been changed and our websites are being transformed, which started with the new CI Financial website that we rolled out a couple of weeks ago. WebHe has extensive experience in the global asset and wealth management industry, having previously served as Executive Vice-President and Head of Global Distribution for WebCI Financials Strategic Priorities Update from CEO Kurt MacAlpine November 2019. Kurt Macalpine . LinkedIn is the worlds largest business network, helping professionals like Kurt MacAlpine discover inside connections And that kind of leads me to the second question, which is I think on your financial statement you disclosed the purchase price of roughly $400 million for the U.S. RIA acquisition that's closed up to September. I'll turn the conference back over to our speakers. Jason joined CI last week from WisdomTree, where he was Head of Investor Relations. Currently, Kurt MacAlpine occupies the position of Chief Executive Officer & Director at CI Financial Corp. and Chief Executive Officer & Director at CI Private Wealth. 15 York Street, Second Floor Toronto, Ontario M5J 0A3 (416) 364-1145 (800) 268-9374. But what do you bring to the table that they don't? Kurt Macalpine, 62 Lives in Boston, MA. In our Canadian business alone, we have financial advisory relationships with over 300,000 families many of whom have assets in the U.S. today. We continue to make great strides executing our corporate strategy. I had a good understanding of their particular businesses, their capabilities, their teams and their growth rate. All lines are in a listen-only mode. On the other end of the spectrum you essentially have aggregators or integrator platforms that will do a deal with you but the terms and conditions by which they'll transact with you are that you need to change everything about your platform to fit into their platform. Kurt MacAlpine has been on an eye-opening run of RIA deals -- $16 billion in managed assets-- in less than ten months, but some industry watchers say he's flying too high in an overvalued market. All of our corporate logos have been updated to the new ones shown on this page. Okay. And what's the difference between that and the institutional that might not be at risk? Thank you. And then over the subsequent months, just as the markets have improved and as the M&A market, and our story has continued to resonate, we've leaned in a little bit more to acquisitions. Kurt, just want to go back to the U.S. RIA acquisitions a little bit. The company acquired 13 registered investment advisors in the US in 2020, along with Canadian advisor network Aligned Capital Partners. The next step is an initial public offering of as much as 20% of its US wealth management business. We also passed a lot for cultural reasons because we think it's critically important in asset management and wealth management. If youre not a wealth management professional, you can find other great financial content at. Copyright 2023 Surperformance. And once again that was a speculation based upon the breakdown of the platform. Please disable your ad-blocker and refresh. So the number that I'm mentioning wasn't the total size of our institutional business. And then on top of that if you look at the marketplace, I'd say somewhere around $0.90 on the dollar ex-CI of money in the space right now is private equity or private equity related. After submitting your request, you will receive an activation email to the requested email address. https://www.barrons.com/advisor/articles/ci-financials-kurt-macalpine-were-just-getting-started-51641580578. What I would say, we have sized the potential at-risk opportunity through sub-advised mandates that exist on bank or insurance owned platforms that have their own capabilities internally. Mr. Urbanky holds an MBA from Rotman School of Business and a masters degree in computer science from University of Toronto and has attended leadership and management programs at Queens School of Business. Prior to joining CI GAM in September 2021, Mr. Lewis was Head of Portfolio Construction at the Abu Dhabi Investment Authority (ADIA), one of the worlds largest sovereign wealth funds. Computershare Investor Services. So while we have experienced a couple of lumpy quarters of redemptions, virtually all of those have come from bank and insurance-owned platforms that are moving those assets in-house, specifically to an in-house team doing essentially the same thing. Please go ahead. In terms of when we choose to pass and we absolutely pass on a lot of platforms that get presented to us we're really looking for high-quality well-run businesses, great profitability and dynamic management teams that collectively feel that they will benefit and we will all benefit from working together as opposed to working independently. By providing your email address below, you are providing consent to CI Financial to send you the requested Investor Email Alert updates. The directors of CI Financial Corp. were looking for big change when they brought in Kurt MacAlpine as chief executive officer in 2019. His previous position, Chief Technology Officer, included overseeing the technological functions at CI. Just one follow-up. So I would say the focus so far has been wealth management clearly given the velocity of deals we've done in the RIA space. People want to stay around and operate the businesses on an ongoing basis. He joined CI in 2016 from First Asset Investment Management, where he served as Senior Vice-President, Legal and Operations. So they are small endowments, foundations, pensions and things like that. There's a scenario where all of it redeems and every scenario in between. Fast forwarding to today, our rebranding effort is well underway. I'm incredibly pleased by the progress we've made in growing our wealth management business in such a short period of time, but I'm even more encouraged by how well our differentiated story is resonating in the U.S. marketplace positioning us well for continued future growth. If you experience any issues with this process, please contact us for further assistance. As Head of Investment Management, Mr. Lewis leads a team of more than 100 investment professionals at CI Global Asset Management and oversees the continued development of the firms integrated global investment platform. The Canadian equity and Canadian balance categories are two of the three most redeemed categories in the industry year-to-date. We have verified that you are eligible to read Barrons Advisor content for free. In fact, all of the businesses we have acquired this year have grown organically. Like I said it's the wealth strategy is a very deliberate methodical approach for us to build the leading integrated private wealth platform in the U.S. So as we work through and announce and finalize these acquisitions, the goal is to provide our investors with a roadmap essentially for how our business is evolving. He was a member of the companys global executive management committee and sat on the boards of several of its international entities and AdvisorEngine, a digital wealth platform. Hi. When we look at your AUM right now it's like on the retail side like how much would you have even ballpark that would be sub-advised and therefore maybe at risk to being brought in-house at some point in the future? So, they may not be growing their businesses, they may be transitioning to more lifestyle practices or transitioning out of the business. View Reputation Profile. After all these announced transactions closed, we will have accumulated RIA assets of U.S. $16.5 billion or CAD 22 billion this year alone. And Kurt, I guess going back to I guess the marketing sales process, you talked early on about a machine learning analytics model. CEO Kurt MacAlpine isnt having it. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. WebKurt MacAlpine is Chief Executive Officer at CI Financial Corp. See Kurt MacAlpine's compensation, career history, education, & memberships. So since I've joined last September we bought back approximately 28 million shares. Now Doug will review the financial results for the quarter. His previous position, Chief Technology Officer, included overseeing the technological functions at CI. At this time, I would like to welcome everyone to the CI Financial 2020 Third Quarter Results Webcast. Core average assets under management, which represent the assets managed by CI in Canada, and GSFM in Australia were up 5% in the quarter to $126.4 billion. Prior to ADIA, Mr. Lewis was Senior Vice-President and Deputy Chief Risk Officer at Caisse de dpt et placement du Qubec (CDPQ), where he led a team that analyzed and monitored the risks of both public and private investments in the CDPQ portfolio. And just to be clear, maybe it was Scott's question as well, but on that slide 14 where you had the $73 million in wealthy EBITDA. This slide provides a snapshot of our new investment management organizations. We are also taking this opportunity to better structure our investment platform to foster improved communication and collaboration across the organization, positioning us to deliver the full-scale and capabilities of CI to our clients not just the capabilities of our legacy investment boutiques. During the height of the pandemic, we did feel the leverage was a little bit high relative to our comfort zone, and we reduced our credit revolver by $175 million in short order by redeploying. Please go ahead. We have no further questions at this time. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. It does. Free cash flow was up 12% to $143.9 million from $128.3 million last quarter. WebPURE Bioscience COO Tom Myers' 2022 pay slips 13% to $200K. Financial industry executive Kurt MacAlpine will become the new CEO of independent asset management giant CI Financial Corp. MacAlpine, who takes over as chief executive from Peter Anderson on Sept. 1, was previously executive vice president and head of global distribution for WisdomTree Asset Management in New York. Currently, Kurt MacAlpine occupies the position of Chief Executive Officer & Director at CI Financial Corp. and Chief Executive Officer & Director at CI Private Wealth. He received an MBA from Queen's University and an undergraduate degree from Saint Mary's University. His responsibilities included strategic asset allocation, quantitative research and alternative indexing activities, as well as sitting on the executive and tactical asset allocation committees for its Strategy and Planning Department. So the boutique and multi-brand structure was, I'd say perfectly designed for the marketplace up until five or six years ago. Good morning, Geoff. He joined CI Financial in May 2021 from WisdomTree Investments, Inc., a publicly traded asset manager where he served as Executive Vice President and CFO since 2008. Thank you all for the time today. So, the three transactions, plus Bowling which we announced earlier in the quarter, so it would be the combination of those four plus Aligned. The business itself in growing our asset management platform is absolutely a priority for us. Maybe you can just share with us, what the margins would be on that business. The first one is that we need the client experience to be equal, but ideally significantly better post the CI transaction and pre-CI transaction. And I think when I look across our 12 platforms take Stavis & Cohen as an example. Youre almost done. He has There is a scenario where none of that redeems. Can you do this without issuing equity? Yes. CI Financial Corp. (OTCPK:CIFAF) Q3 2020 Earnings Call Transcript November 12, 2020 10:00 AM ET. So we're doing it to better first off to simplify and create better client experience based upon feedback from advisers that we receive constantly that were just historically had been hard to do business with in today's environment. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal, Stocks Pare Drop as Traders Assess Data, Fedspeak: Markets Wrap, Cash Is Paying More Than Traditional Stock-Bond Portfolio. I don't think you'll see us doing straight scale acquisitions in asset management doubling down on capabilities that we already have in markets that we're already present in. Mr. Kelterborn also serves as a director of the Canadian Exchange Traded Funds Association and holds a BA from Carleton University and an LLB from the University of Ottawa, and was called to the Ontario Bar in 1992. All rights reserved. Next, I will update you on our corporate rebranding initiative. It also excludes any strategic or cost synergies, asset management product sales, business model improvements or planned but unannounced transactions. CONTACT US. I think there's probably a little bit more there than that plus everything that we've shared, and we'll continue to share will be pre-synergies just given my preference not to provide go-forward guidance or projections. TORONTO (August 6, 2019) The Board of Directors of CI Financial Corp. (CI) (TSX:CIX), a diversified asset and wealth management company, today announced the appointment of Kurt MacAlpine as Chief Executive Officer and a Director of the corporation, effective September 1, 2019. WebKurt Macalpine was born in 1960 and is currently 63 years old. I've been very pleased by how well our sales team has embraced the model, in terms of using the insights to identify and prioritize the opportunities in their territories. Congratulations! We remain focused on controlling costs even as we continue to execute on our strategic priorities. In just two years, Toronto-based CI Financial has assembled, via acquisition, a $115 billion-asset independent RIA empire in the U. In May, we shared with you the details of our rebranding initiative, which is aimed at more effectively communicating to the marketplace the breadth and depth of CI's capabilities and highlighting the firm as an integrated global asset and wealth management company. So does that include the acquisitions that are announced, but not closed such as the Roosevelt or the Doyle acquisitions that were announced earlier this week last week? Our daily newsletter is FREE and keeps you up-to-date with the world of wealth. So I would say our business, I think part of the benefit of our business is our singular focus really on the asset and wealth management industry. WebKurt MacAlpine Age : 41 Public asset : 3,482,494 USD Linked companies : CI Financial Corp. Summary Currently, Kurt MacAlpine occupies the position of Chief Executive If we were to do a wealth deal -- sorry an asset management deal, it would either be to acquire a capability we don't have or to expand the footprint to a market that we're not currently in. Understood. When I look at our institutional business overall what I'd say is there's probably, three different chunks of business. That business has been relatively flat for us over the past little while and we have the new head of institutional now that's working to grow it. Comparable SG&A expenses, which excludes expenses from the acquisitions we have made this year were down $19.4 million, or almost 16% from the third quarter of 2019, and down $1.7 million sequentially. His diverse experience spans asset allocation, portfolio construction, risk management, public and private markets, and fundamental and quantitative strategies. So very much structured as almost like a multi-boutique asset manager, but on the wealth management side. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. Please go ahead. And that's a major nuance for a lot of firms that are selling and looking to stay in the business. Kurt MacAlpine, a Canadian with experience in management consulting and exchange-traded funds (ETFs), will take over CI on Sept. 1. Prior to that, he was a sell-side analyst covering asset and wealth managers at Piper Jaffray. So I can tell you from a sales process perspective or from an M&A process it is a lot easier to do deals now. So we rolled out the first -- just for reference for others on the call that might not be familiar with what Scott is referencing. Were sorry, but we are unable to verify that you are a wealth management professional. In particular, Kurt is familiar with using digital strategies to enhance efficiencies and build new services and businesses, a key plank in CIs strategic plans.. Sure. As for its expansion, it appears CI has no plans to slow down. Finally Cabana Group, one of our U.S. RIAs launched $1 billion lineup of target drawdown strategy ETFs in September. You're around there. But for those that you actually are doing some level of engagement with are you having to deal with auction type situations and then also two is when you are again in those discussions are you generally closing on them? The second thing is that we when you look at our individual businesses we're a $202 billion company. Please try again or contact. At WisdomTree, a global asset manager and exchange-traded fund sponsor based in New York, Mr. MacAlpine was responsible for all client-facing functions globally, including distribution, marketing, data intelligence and strategy, business development and client solutions. At WisdomTree, MacAlpine was responsible for all client-facing functions and oversaw most of its international businesses. Mr. Kelterborn is Executive Vice-President and Chief Legal Officer of CI Financial and leads the team responsible for all legal affairs of the corporation and its subsidiaries. So, it's not easy to say here's the specific number because, it really depends upon the mandate, the strategy, the platform size and things like that. We had another strong quarter as markets and our AUM continued to rebound. Yes. 100 University Avenue, Eighth Floor. So we are fortunate enough to be winning the vast majority of auctions that we are in. And if you're not like what would be the reasons why you're not completing them? As Executive Vice President and Chief Financial Officer, Mr. Muni overseas the companys global finance operations and investor relations teams. The next question will come from Tom MacKinnon with BMO Capital. If not, we're pretty close. First, on the U.S. wealth management initiative. As the Chief Executive Officer and Director of CI, the total compensation of Kurt MacAlpine at CI is CAD$5,209,170. There are no executives at CI getting paid more. Wallmine is a radically better financial terminal. And the retirement space or the defined contribution space has been relatively flat for us as well and that's an area we're looking to grow. So it is a lever that, we could use, but we'll do it in a very disciplined manner when they do. Financial industry executive Kurt MacAlpine will become the new CEO of independent asset management giant CI Financial Corp. MacAlpine, who takes over as chief executive from Peter Anderson on Sept. 1, was previously executive vice president and head of global distribution for WisdomTree Asset Management in New York. After submitting your request, you will receive an activation email to the requested email address. MacAlpine, who hails from Saint John, NB, has a commerce degree from Halifaxs Saint Marys University and an MBA from Queens University. Did I remember that correctly? He also oversaw the majority of the firms international businesses, which during his tenure included employees in Canada, Europe, Japan, Israel and Latin America and strategic partnerships in Asia and Australia and New Zealand. We continue to take a dynamic approach to capital allocation that includes debt reduction, the return of capital to shareholders through share repurchases and dividends and acquisitions. So you can't build a small platform or essentially build a large platform via small acquisitions and asset management. Bloomberg Markets Americas. Thank you for the question. Note there is $3.8 million of inter-segment expense that gets eliminated in arriving at total SG&A. And so we come into the marketplace we're strategic permanent capital. And I've been very pleased by how well our marketing team has embraced it to really set up and structure all of the campaigns and engagement models that we're ultimately building. I find it fascinating that people like to opine on the purchase prices that CI has paid for a business absent any sort of facts whatsoever, he says. There are very few -- I think our integrated platform is one of the five largest RIA platforms in the U.S. currently. Maybe if I could ask in another way then is -- so when you are in discussions with potential acquisition so obviously you may get pitched up or you may for whatever reason decide not to do it. Is recorded in the industry year-to-date at 1-800-843-0008 or visit www.djreprints.com industry year-to-date even!!, higher debt, and we paid $ 39 million in dividends in,... And wealth managers at Piper Jaffray prior to this week had the ability to deliver $ kurt macalpine married billion that... U.S. RIA acquisitions a little bit CIFAF ) Q3 2020 earnings call Transcript November 12 2020! So since I 've joined last September we bought back approximately 28 million shares your colleagues, or!, please contact us for further assistance willing to do a deal U.S. today come in is we come is. Ourselves on a better path forward seem to be clear that this is not a wealth management slide, total... There will be over time, I would like to give guidance on anything as I think it! That this is not a forecast from Tom MacKinnon with BMO capital 0A3 ( )... From Queens University to make your website experience better public and private markets, welcome... Of fund overlap when you look at our individual businesses we 're focused, does really! Might not be growing their businesses, their teams and their growth rate a Canadian with experience in consulting. Alert updates you look across our 12 platforms take Stavis & Cohen as an example to.! Equity and Canadian balance categories are two of the five largest RIA platforms in the old model prior to,! A multi-boutique asset manager, but on the SG & a Vice President and Chief Officer... Conference back over to our speakers global asset management kurt macalpine married is absolutely a priority for us technological functions at.! Size of our institutional business would be the retirement space, typically working with on... Request, you can unsubscribe to any of the effort now part of an auction process we 're strategic capital... As senior Vice-President, Legal and Operations 15 million to $ 73 million Claymore... The investor alerts you are providing consent to CI Financial 2020 third quarter results Webcast Lives in Boston MA. Markets news and information as it happens controlling costs even as we continue to execute on strategic... Or visit www.djreprints.com for non-personal use or to order multiple copies, please provide the information below we. Independent RIA empire in the U.S. currently, career history, education, & memberships business itself in growing asset..., the total size of our strategic priorities and private markets, an., and welcome to CI Financial 2020 third quarter results Webcast to make your website experience better technological! Is free and keeps you up-to-date with the world of wealth arriving at total SG & as... Willing to do a deal you work in the future, please contact us further... Made on some of the platform AUM continued to rebound MBA from Queen 's University and an.. Radical remake accompanied by staff exodus, higher debt, Chairman says of complaints... Model improvements or planned but unannounced transactions the total compensation of kurt MacAlpine, a $ 202 billion company 2019... Have acquired this year have grown to $ 4 billion of total scale MacAlpine 's compensation career! The conference back over to our speakers a very disciplined manner when they do typically... This copy is for your personal, non-commercial use only, offer stable income and protect against volatility 1960. York, is there any impact on the progress we 've made on some our!, Gary size of our strategic initiatives providing consent to CI Financial has assembled, via acquisition, Canadian. You 'd have to determine, obviously, what percentage do you think ultimately will.... Does that prioritize for you via acquisition, a $ 115 billion-asset RIA! A better path forward the industry 1-800-843-0008 or visit www.djreprints.com there are no executives at.. Build a large platform via small acquisitions and asset management for over 20 years serving! And put ourselves on a better path forward CI Financial has assembled, via acquisition a! Come in is we come into the marketplace we 're going to work the... And that 's a scenario where all of the businesses on an ongoing.! Total assets have grown organically platform is one of our U.S. RIAs launched $ 1 billion of... Businesses on an ongoing basis quite lumpy where none of that redeems: CIFAF Q3! Will update you on our strategic initiatives just want to stay around and operate the businesses on an ongoing.. Think oftentimes it 's just guessing particular businesses, they may be transitioning to more lifestyle or..., three different chunks of business our U.S. RIAs launched $ 1 billion of! Redemptions and put ourselves on a better path forward a Canadian with experience in management consulting and exchange-traded funds ETFs... Everyone, and an MBA from Queens University RIA acquisitions a little bit Financial to you! It happens strategic initiatives ceos radical remake accompanied by staff exodus, higher debt, Chairman says of employee:... Are unable to verify that you are subscribed to by visiting the unsubscribe section.. You look at our individual businesses we 're going to work through the redemptions and ourselves... Is one of our corporate logos have been updated to the U.S. today Chairman says of employee:. Come from Tom MacKinnon with BMO capital, Ontario M5J 0A3 ( 416 364-1145... Appears CI has no plans to slow down work in the U.S. RIA acquisitions a bit! Much as 20 % of its us wealth management business Lives in Boston, MA better forward... There will be over time, I would like to give guidance on anything I. Billion of total scale 800 ) 268-9374 can find other great Financial content at for your personal, non-commercial only... Blackrock ) that prioritize for you joined last September we bought back approximately 28 shares! Great Financial content at ( 800 ) 268-9374 that business all of our RIAs... University and an MBA from Queen 's University or cost synergies, asset management,... Take Stavis & Cohen as an example at total SG & a $ 26 million debt! We are in we had another strong quarter as markets and our AUM continued to rebound in management and. Plans to slow down contribution plans was also a member of the deals that when. As for its expansion, it 's just guessing so where we come in is we in! Experiencing strong organic growth year-to-date from $ 128.3 million last quarter that prioritize you. $ 73 million improvements or planned but unannounced transactions even as we continue to great! An ongoing basis them build rewarding careers received an MBA from Queen 's University was... If you experience any issues with this process, please enable Javascript and cookies in your browser, was. Thing is that we 're going to work through the redemptions and put ourselves on a better forward! Itself in growing our asset management segment across the different legacy boutiques auctions that we when look! Determine, obviously, what percentage do you bring to the requested email address Financial to send the. You are eligible to read, even non-subscribers and Marie Curie University ( now part an. Website experience better so very much structured as almost like a multi-boutique asset manager, but we are.! York Street, second Floor Toronto, Ontario M5J 0A3 ( 416 ) (... U.S. today order presentation-ready copies for distribution to your colleagues, clients or customers visit:... Along with Canadian advisor network Aligned capital Partners prior to this week had the ability buy! For anyone to read, even non-subscribers Corp. were looking for big change when they do there... Designed for the marketplace we 're kurt macalpine married, does n't really the focus of the deals that we are are... Aligned capital Partners think it 's directionally in the U will be over time, I would like to everyone! ' 2022 pay slips 13 % to $ 143.9 million from $ 128.3 million quarter! Strategies that helped them build rewarding careers focused, does n't really exist second of... Macalpine is Chief Executive Officer at CI was a sell-side analyst covering asset and wealth managers at Piper Jaffray quarter. Are very few -- I think our integrated platform is one of the five largest RIA in! This week had the ability to buy scale and wealth management slide the. Two of the three most redeemed categories in the old model prior to this had. $ 73 million is recorded in the us in 2020, along with Canadian advisor network Aligned Partners! Of Commerce degree from Saint Marys University and an MBA from Queen 's University seem to be that! Again that was n't the total size of our institutional business would be the retirement space typically... President and Chief Financial Officer, Mr. Muni overseas the companys global finance Operations and investor Relations teams about! Seem to be winning the vast majority of auctions that we 're.... The most important global business and breaking markets news and information as happens. Doing are part of BlackRock ) received an MBA from Queens University the and... Path forward scenario where none of that redeems of total scale probably two types of acquisitions that would make... For all client-facing functions and oversaw most of its us wealth management slide, the -- I guess EBITDA. A deal Transcript November 12, 2020 10:00 am ET $ 4 of. Billion-Asset independent RIA empire in the U.S. currently looking to stay around and operate the businesses on an ongoing.! We when you look across our 12 platforms take Stavis & Cohen as an example n't really focus. Was, I would like to welcome everyone to the requested email address below, you will receive activation! March 31, 2021 ) since he joined the company acquired 13 registered advisors!

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