CI Financial to acquire majority of VC-backed WealthBar
CI Financial Corp (TSX: CIX) has agreed to acquire a majority stake in WealthBar Financial Services Inc, a Vancouver-based online wealth management and financial planning platform. No financials terms were released for the deal, which is expected to close in January. CI Financial, a Toronto-based asset manager and wealth management advisor, said the transaction will help accelerate its digital strategy. WealthBar will continue to operate as a stand-alone business led by CEO Tea Nicola. Two years ago, WealthBar secured $5.5 million in a financing led by Nicola Wealth Management.
17 December 2018•3 mins read
