Company News

The mutual fund giant intends to leverage the acquisition to jump-start some technology projects, including the launch of a robo-advisor

By IE Staff |

 

Toronto-based CI Financial Corp. has completed the acquisition of BBS Securities Inc. and associated entities, including Pario Technology Corp., a financial technology company, and Virtual Brokers, an online brokerage.

"We are pleased to welcome the BBS team to the CI Financial group," says Peter Anderson, CI's CEO. "BBS has developed one of the most advanced and efficient platforms in the market today. CI's strength and stability will support the continued growth and development of BBS's core businesses, while the BBS expertise and technology will help other CI companies enhance their products and services to meet the changing needs of investors and advisors."

CI is preparing to jump-start several technology projects, including the launch of a robo-advisor that will be available to financial advisors with Toronto-based subsidiary, Assante Wealth Management (Canada) Ltd. and their clients, following its acquisition of BBS.

Read: CI makes strategic tech acquisition

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