Toronto-based CI Financial is buying a majority stake in Houston, Texas-based Stavis & Cohen Financial, marking the Canadian firm’s 10th U.S. transaction this year.
The purchase of Stavis & Cohen, which has $570 million under management, will bring CI’s U.S. assets to approximately $13 billion, and its North American assets to approximately $59 billion.
Stavis & Cohen is a leading woman-owned wealth management firm led by co-founders Deborah Stavis, chief executive officer, and Eddie Cohen, chief investment officer.
The team helps high-net-worth families reach their lifetime and multigenerational goals by providing individualized guidance and support in all aspects of wealth planning.
“CI is the ideal partner for our clients, our employees and our business as we move to the next phase of our development,” Stavis said in a statement. “CI understands and shares our mission of helping families navigate the complexities of accumulating, preserving and distributing assets to achieve their goals through an in-depth planning approach.”
Since entering the U.S. registered investment adviser market in the first quarter of 2020, including Stavis & Cohen, CI has acquired or agreed to acquire seven RIAs directly and 10 overall, including transactions by CI’s affiliates.
Driven by robust transaction activity amid market turbulence and increased focus on billion-dollar plus targets, Echelon Partners expects another all-time high in 2025.
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