New York, 16 March 2021 – Hogan Lovells is advising CI Financial (CI), a diversified global asset and wealth management company, on its acquisition of Brightworth, LLC (Brightworth) an Atlanta-based registered investment advisor with US$4.7 billion in assets under management.
Brightworth provides comprehensive investment advisory and financial planning services to high-net-worth individuals, families, business owners, trusts, estates, charitable organizations and pension and profit-sharing plans from offices in Atlanta and Charlotte, North Carolina. The firm’s expertise includes specialized practices focused on corporate professionals and executives, dental industry professionals and business owners through its business exit and transition services group.
This transaction and others recently announced are expected to more than double CI’s U.S. assets to approximately US$55 billion, continuing CI’s rapid growth in wealth management. The acquisition of Brightworth extends CI’s presence into the strategic southeast market, with Atlanta alone being one of the country’s largest urban economies and home to numerous Fortune 500 companies.
The transaction is expected to close in the second quarter of 2021, subject to regulatory, stock exchange and other customary closing conditions. Financial terms were not disclosed.
The Hogan Lovells team advising CI was led by transactional partner Michael Szlamkowicz (New York), together with partner Henry Kahn, counsel Allison Donovan, and associates Peter Dixon and Joely Grieff, finance partner Frederick Cristman and counsel James Adams, and tax partner Scott Friedman.
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