Wealth manager Balasa Dinverno Foltz LLC recognized as one of the Best Places to Work in Chicago

ITASCA, Ill. (August 13, 2020) - Balasa Dinverno Foltz LLC (“BDF”), a leading regional wealth management firm, and CI Financial Corp. (“CI”) (TSX: CIX) of Toronto are pleased to announce that BDF has been ranked Number 2 overall and Number 1 in financial services on the Crain's 2020 list of 100 Best Places to Work in Chicago.

 

“We’re thrilled to receive this recognition from Crain's Chicago Business and to achieve this high ranking on the Best Places to Work list,” said Armond Dinverno, BDF President and Co-Founder. “As wealth managers, we recognize that our people are the key to our success and we deeply appreciate our team members’ dedication. We share a culture of team before self and unmatched excellence centered on serving our mission, which is to help our clients enjoy a full life.”

 

BDF is a registered investment advisor (“RIA”) firm with approximately $4.5 billion in assets. Its team of 62 people provide customized wealth management services to individuals and families, business owners and institutions and non-profit organizations in the Chicago area. BDF recently agreed to be acquired by CI, a global asset and wealth management firm.

 

“We congratulate BDF and its team for this remarkable accomplishment,” said Kurt MacAlpine, CI Chief Executive Officer. “To rank second in one of the largest and most competitive markets in America speaks to the strength of BDF’s culture and the high quality, commitment and professionalism of their team members. We are proud to welcome the BDF team to CI and are excited to be working with them to continue to grow their business.”

 

The Crain’s 2020 list of the 100 Best Places to Work in Chicago is compiled by Best Companies Group, an independent workplace excellence research firm, based on an in-depth analysis of companies’ benefits, policies, practices and other information, and the results of a confidential employee survey used to evaluate employees’ workplace experience and culture. BDF ranked Number 2 both overall and in the small company category. This is the second consecutive year BDF has appeared on the Top 100 list, having ranked sixth overall on the 2019 Best Places to Work in Chicago list.

 

CI is acquiring BDF as part of CI’s strategy to expand its presence in wealth management and to globalize the firm. With the acquisition of BDF, CI will have over $11 billion in wealth management assets in the United States. BDF will form a cornerstone of CI’s business and a platform for continued expansion.  

 

About Crain’s Chicago Business

 

Crain’s Chicago Business is the top source of news, analysis and information on business in metropolitan Chicago for decision-makers in the private and public sectors. Crain's publishes a weekly business magazine, providing deeper analysis, commentary, special reports and features. Crain's also produces databases, live events and sponsored content, all with the aim of deepening readers' understanding of local business. Crain’s Chicago Business is the leading source of information on Chicago’s economy, the companies, industries and institutions that operate here and the entrepreneurs and innovators who drive the city’s growth.

 

About Balasa Dinverno Foltz

 

BDF was founded in 2001 by Mark Balasa, Armond Dinverno, and Mike Foltz, who each have more than three decades of industry experience. BDF provides personalized investment management and financial planning, and manages approximately $4.5 billion on behalf of business owners, individuals and families, and institutions. BDF’s expertise includes practice groups specializing in the unique needs of women, widows, business owners, insurance brokers and agency owners, lawyers, financial professionals, and divorcing individuals. In addition to a Barron’s Top 50 RIA ranking, BDF has received extensive recognition over the years, including being listed on the 2020 FT300: Top Registered Investment Advisors, the Investment News Best Places to Work for Financial Advisors (2020) and being ranked Number 30 on the RIA Channel Top 100 Wealth Managers for 2020. For more information, visit www.bdfllc.com.

 

About CI Financial

 

CI Financial Corp. (TSX: CIX) is an independent company offering global asset management and wealth management advisory services. It held approximately C$187 billion (US$140 billion) in assets as of July 31, 2020. CI’s primary asset management businesses are CI Investments Inc. and GSFM Pty Ltd., and it operates in wealth management through Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, WealthBar Financial Services Inc., BBS Securities Inc., The Cabana Group, LLC, Congress Wealth Management, LLC, One Capital Management, LLC and Surevest LLC. Further information is available at www.cifinancial.com.

 

This press release contains forward-looking statements concerning anticipated future events, results, circumstances, performance or expectations with respect to CI Financial Corp. (“CI”) and its products and services, including its business operations, strategy and financial performance and condition. Forward-looking statements are typically identified by words such as “believe”, “expect”, “foresee”, “forecast”, “anticipate”, “intend”, “estimate”, “goal”, “plan” and “project” and similar references to future periods, or conditional verbs such as “will”, “may”, “should”, “could” or “would”. These statements are not historical facts but instead represent management beliefs regarding future events, many of which by their nature are inherently uncertain and beyond management’s control.  Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements involve risks and uncertainties. The material factors and assumptions applied in reaching the conclusions contained in these forward-looking statements include that the investment fund industry will remain stable and that interest rates will remain relatively stable.  Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market conditions, including interest and foreign exchange rates, global financial markets, changes in government regulations or in tax laws, industry competition, technological developments and other factors described or discussed in CI’s disclosure materials filed with applicable securities regulatory authorities from time to time. The foregoing list is not exhaustive and the reader is cautioned to consider these and other factors carefully and not to place undue reliance on forward-looking statements. Other than as specifically required by applicable law, CI undertakes no obligation to update or alter any forward-looking statement after the date on which it is made, whether to reflect new information, future events or otherwise.

 

For further information:

 

CI Financial Corp.

 

Murray Oxby

 

Vice-President, Communications

 

(416) 681-3254

 

moxby@ci.com

 

 

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