CI Direct Investing, which is a famous portfolio management company in Canada, is fully owned by CI Financial Corporation. The acquisition took place in May 2020.
What is CI Direct Investing?
CI Direct investing was once known as WealthBar. It is one of the well-known online brokerage platforms in Canada. CI offers Direct trading and Direct Investing. Direct trading is for do-it-yourself traders, whereas, CI direct investing is a robot-advisory platform that offers default ETF portfolios, impact portfolios and private portfolios.
Who owns CI Direct Investing?
CI Direct Investing was established in the year 2013 by Tea Nicola and Chris Nicola. In May 2020, it was 100% acquired by CI Financial Corporation.
CI Financial Corporation was christened in 1965 as Universal Savings Fund Management Limited by G. Raymond Chang. It is headquartered at Toronto, Ontario, Canada. At the time of writing this article, CI Financial corporation has nearly $280 billion assets under management and around 1490 employees. It is a listed company that is traded in Toronto Stock Exchange (TSX) with a ticker CIX.
CI Financial Corporation
Apart from CT Direct Investing, CI Financial Corporation also owns CI Global Asset Management, CI Assante Wealth Management, Ci Investment services and CI Private Wealth. The name changed from Universal savings find management to CI Financial corporation in the year 2005, to reflect the variety of financial services it offers.