Corient Acquires UHNW Pittsburgh-Based RIA with $600M in AUM 

Corient, a wealth advisor and subsidiary of Toronto-based CI Financial Corp., has expanded its footprint in the Pittsburgh area with the acquisition of Rootstock Advisors, a registered investment advisor with approximately $600 million in assets under management. 

Rootstock serves ultra-high-net-worth and high-net-worth families and households through investment management, estate planning coordination, philanthropic strategy, family governance, education planning, wealth planning and income tax oversight services. 

Greg Simpson, Rootstock President, said that Corient’s private partnership model was a determining factor in joining the firm, “as it promotes an alignment of values across the firm and allows us to collaborate with a large and growing team of colleagues with significant experience and expertise.” 

The Rootstock acquisition is Corient’s third transaction in the past three months. In January, the firm acquired the $10.4 billion multi-family office business of NY-based Geller and Company, and in December it announced an agreement to acquire Maine-based H.M. Payson & Co., an RIA with $7.9 billion in assets.  

Also in December, CI Financial announced that Mubadala Capital, the $24 billion alternative asset management arm of Abu Dhabi’s Mubadala Investment Company, agreed to pay $8.66 billion (CAD$ 12.1 billion) in cash and debt to take the wealth manager private. The deal is expected to close in the second quarter of 2025.  

Headquartered in Miami, Corient has grown to more than 240 partners and over 1,200 employees managing approximately $182 billion in assets since its founding in 2020. 

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