CI Financial Rebrands US Wealth Business as Corient

CI Private Wealth, the Miami-based US wealth business of Canadian asset manager CI Financial, is rebranding as Corient.

According to the company, Corient is derived from “client oriented.” The name, however, is not completely new. In February 2022, the firm bought Newport Beach, CA-based Corient Capital Partners, which manages approximately $5 billion in assets.

The rebranding will bring all US-based RIA businesses under the same name.

Between 2019 and 2022, the company was involved in over 30 transactions, solidifying its position as one of the fastest-growing wealth platforms in the US. According to CI, the US wealth business manages $147 billion in assets.

“The new name better reflects the extensive capabilities we offer today as a national, integrated organization and our vision to become the country’s pre-eminent private wealth firm,” said Kurt MacAlpine, CEO of Corient and CI Financial Corp., Corient’s parent company.

The rebranding follows a string of similar moves in the wealth space. Riskalyze announced their name change to Nitrogen in May. Advisor Group, an eight-firm network of brokers and financial advisors, announced in June that it would operate under Osaic.

After selling a minority stake in the unit to pay down the parent company’s considerable debt, the firm said in May that it would postpone its planned IPO for its US wealth management division.

The company sold a 20% share to a group of institutional investors that included private equity firm Bain Capital, the Abu Dhabi Investment Authority, and others through a subsidiary.

CI Private Wealth will continue to be used for the Canadian ultra-high-net-worth wealth management business.