CI Financial recently acquired New York-based RIA Barrett Asset Management. The firm offers independent thinking, wealth solutions, and two in-house mutual funds. The firm uses trending technologies and APIs to meet client needs. The Barrett Asset Management team has a combined 30 years of experience and focuses on long-term client relationships. To read more about Barrett Asset Management, read on! And don’t forget to check out the company website for more information.
CI Financial acquires New York-based RIA Barrett Asset Management
CI Financial is expanding its U.S. presence with the acquisition of New York-based Barrett Asset Management. The RIA manages $2.5 billion in assets, and has been in business for over 40 years. CEO Kurt MacAlpine said the acquisition expands the company’s presence in the New York market. Barrett has two in-house mutual funds, and the acquisition will enable the company to expand its distribution services in the United States.
CI Financial said in a press release that it expects to complete the deal during the second quarter of 2018. The financial firm did not disclose the deal’s terms. Barrett was the exclusive financial adviser to CI and Cambridge. Barrett’s assets under management totaled US$4.8 billion. The firm has an office in Charlotte, NC, as well. Brightworth Chief Executive Officer Ray Padron will remain with the firm. CI has reportedly become the fastest-growing RIA platform in the U.S. since 2020, making 16 acquisitions in the last 15 months.
Firm offers independent thinking and wealth solutions
Barrett Asset Management is a family-owned business headquartered in Chicago that provides comprehensive wealth solutions to high-net-worth individuals and families. They specialize in comprehensive wealth planning and a highly personalized approach that is based on a holistic approach to the client’s unique challenges. Barrett is a Chartered Alternative Investment Manager and has won numerous awards and recognition from industry peers. Barrett has been in business since 1937, and its professionals are proud of their accessibility and dedication to their clients. Barrett is also recognized as a “Top Financial Adviser” by the Financial Times and a “Best Growth Equity Strategy” by Wealth & Finance International Magazine.
Barrett Asset Management is owned by the principals of the firm and has over 30 years of combined experience. The firm provides independent thinking and wealth solutions to its clients through its unique investment management process. This allows Barrett to focus on building long-term relationships with their clients, and they have an excellent track record of delivering outstanding service. They are proud to be independently owned and provide the services that their clients need and deserve.
It manages two in-house mutual funds
Barrett Asset Management offers high-touch services for individuals and families, and has been recognized by the industry for its advisory services. The firm manages two in-house mutual funds and has also been recognized for its advisory services. Cambridge International Partners LLC acted as the financial advisor for the acquisition. The transaction is expected to close in the second quarter of 2021. Barrett will continue to manage both in-house funds, while partnering with both institutions to manage the company’s mutual funds.
Barrett Asset Management is a New York-based registered investment advisor (RIA) offering investment management and customized wealth planning services to HNW and ultra-high-net-worth clients. Its in-house mutual funds have an average asset value of $10.5 million. CI Financial’s US wealth management platform is expected to reach $133 billion by 2021, which includes nearly $50 billion in assets.
It doesn’t compensate employees for bringing in new clients
According to Barrett Asset Management’s website, it is not common for employees to be compensated for bringing in new clients. Barrett has a policy of not compensating employees for bringing in new clients, a practice that some companies have adopted. Employees can only be compensated for bringing in new business if they have a client already. The company also doesn’t pay new clients to existing employees, which is surprising given that the firm employs eighteen people. Moreover, all of them work as investment advisers, researchers, and analysts. There are no investment adviser representatives at Barrett.