Seller Details:
Columbia Pacific Wealth Management serves high-net-worth and ultra-high-net-worth individuals and families and select institutions from offices in Seattle and San Francisco. It has US$6.4 billion in total assets under management and provides comprehensive wealth management services, including retirement, estate, tax, and cash flow planning, risk management, and investment management, including alternative, ESG, and impact investing. CPWM is led by Managing Partners Alex Washburn and Peder Schmitz, President Derek Crump, and Tyler Gaspard. The company was founded by Mr. Washburn, Mr. Schmitz, Stan Baty, and Dan Baty.
Buyer Details:
CI Financial Corp. is an independent company offering global asset management and wealth management advisory services. CI managed and advised on approximately C$338.1 billion (US$264.6 billion) in client assets as at November 30, 2021.
Transaction Summary:
CPWM is a strategic fit with the other high-quality RIAs at CI Private Wealth and is another significant step forward, for CI, in building the leading wealth management platform for high-net-worth and ultra-high-net-worth families in the U.S.