Good morning, Geoff. And how does that landscape look for you? We are not changing portfolio managers on funds, the investment management processes they follow or our fund lineup. As President and Chief Operating Officer, Mr. Urbanky is responsible for the operational aspects and resources of CI Global Asset Management, CI Assante Wealth Management and other CI Financial companies. Introductory comments for a webcast by Kurt MacAlpine, Chief Executive Officer, CI Financial: Good afternoon and thank you for joining me today. Our marketing expense to date, we've essentially been self-funding this initiative within the existing marketing expense base. Youre almost done. The next question will come from Gary Ho with Desjardins Capital Market. It might be, it might not be. We expect the cross-listing to increase CI's corporate profile in the U.S., expand our investor base and allow us to offer U.S. dollar-denominated shares in future U.S. RIA acquisitions. We are in the early stages of the strategic transformation of our sales function and our investment platform and we are confident that these actions will lead to better flows. The asset management we do look at things opportunistically, but it really has to fit what we're building on the integrated asset and wealth management side. And I think that's really resonating. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. I don't feel that it is imperative that we do it via major M&A. In late August, we rolled out our cross-border wealth management partnership program where our advisers in Canada and the U.S. are working together to holistically service clients north and south of the border. So where we come in is we come in -- in the middle. Good morning. Just following on that maybe on that $2.50 billion to $3 billion institutional that you mentioned earlier. LinkedIn is the worlds largest business network, helping professionals like Kurt MacAlpine discover inside connections So they're taking some form of stake in the business and allowing the business to continue to operate on a freestanding independent basis. WebKurt MacAlpine Chief Executive Officer and Director, CI Financial Mr. MacAlpine was appointed Chief Executive Officer and Director of CI Financial in September 2019. I will share more details on the investment platform changes in a few moments. I find it fascinating that people like to opine on the purchase prices that CI has paid for a business absent any sort of facts whatsoever, he says. Earnings per share of $0.62, was up $0.06 per share from the second quarter and up $0.02 from the third quarter last year. Under the current model, the Harbour business is part of broader CI Global Asset management benefits from that scale, partnership, access to better resources and things like that. SG&A declined nearly $16 million, or 13% from a year ago, and was flat on a sequential basis despite on-boarding several new businesses. This chart outlines new adviser assets that have been on-boarded to our wealth platform over the past three years and compares them to the amount that we've on-boarded so far in 2020. So if we're not additive to the process on the client front, we're not interested. Why? Jason Weyeneth, CFA Vice-President, Investor Relations & Strategy, Chief Executive Officer and Director, CI Financial, Executive Vice-President and Chief Financial Officer, CI Financial, Executive Vice-President and Head of Investment Management, Executive Vice-President and Chief Legal Officer, CI Financial, Executive Vice-President and Chief Human Resources Officer. Thank you. If you experience any issues with this process, please contact us for further assistance. In just two years, Toronto-based CI Financial has assembled, via acquisition, a $115 billion-asset independent RIA empire in the U. We are getting feedback that we are not necessarily the highest bidder on these but I think it's really our value proposition that's differentiating ourselves. So for wealth management, because of the fragmentation of the RIA marketplace in order for us to create scale, we really have to do a lot of acquisitions. We've detected you are on Internet Explorer. But as we naturally work through it, if there's opportunities to deliver a better client experience through consolidation, it's something we will look at as we would look at all opportunities across our businesses. In terms of when we choose to pass and we absolutely pass on a lot of platforms that get presented to us we're really looking for high-quality well-run businesses, great profitability and dynamic management teams that collectively feel that they will benefit and we will all benefit from working together as opposed to working independently. If I look at what you're doing in the U.S. with respect to RIAs I wonder if you could compare your business model to say competitors here and we certainly know there's one publicly listed competitor. Mr. Kelterborn is Executive Vice-President and Chief Legal Officer of CI Financial and leads the team responsible for all legal affairs of the corporation and its subsidiaries. Financial industry executive Kurt MacAlpine will become the new CEO of independent asset management giant CI Financial Corp. MacAlpine, who takes over as chief executive from Peter Anderson on Sept. 1, was previously executive vice president and head of global distribution for WisdomTree Asset Management in New York. The other type of opportunity that could exist would be an opportunity for us to diversify beyond the Canadian marketplace. First, on the U.S. wealth management initiative. You will note that our business was aligned by boutique brands with many of the brands offering competing mandates and capabilities. Because every -- the one thing is we see a lot of businesses as you could imagine given the number of transactions we've done, every single firm that we come across, I guarantee does something better than every other firm. Our daily newsletter is FREE and keeps you up-to-date with the world of wealth. So take Harbour as an example. He holds a PhD in theoretical physics from Pierre and Marie Curie University (now Sorbonne University), and an M.Sc. On that wealth management slide, the -- I guess the EBITDA progression year-to-date from $15 million to $73 million. This new approach allows us to deliver CI's full-scale to our clients, organize ourselves by investment capability, share information more freely throughout the organization, ideally leading to better problem-solving and investment outcomes, reduce complexity in our investment organization, creating a more client-friendly platform, create consistency in our objectives address gaps in our platform holistically and align the compensation model across teams. I don't like to give guidance on anything as I think oftentimes it's just guessing. And they have a very unique approach which includes tax planning estate and retirement that's probably more advanced than the typical wealth management platform. Mr. MacAlpine you may begin. This number only includes our current interest in these companies and does not include any growth or market assumptions. We do think that our share price is significantly undervalued. And the part that I'm most excited about is, we're doing deals with truly exceptional very high-quality firms. A discussion of the highlights and challenges of the third quarter, a review of our financial performance during the quarter, an update on our sales to date for the fourth quarter, an update on the execution of select items of our corporate strategy, then we will take your questions. TORONTO (August 6, 2019) The Board of Directors of CI Financial Corp. (CI) (TSX:CIX), a diversified asset and wealth management company, today announced the appointment of Kurt MacAlpine as Chief Executive Officer and a Director of the corporation, effective September 1, 2019. Just one follow-up. Mr. MacAlpine holds a Bachelor of Commerce degree from Saint Marys University and an MBA from Queens University. The integrated platform builts by the leaders of the businesses, based upon the feedback from their clients. And on day one everything is -- everything that you do is what we do. All of our corporate logos have been updated to the new ones shown on this page. The next question will come from Tom MacKinnon with BMO Capital. So we needed to evolve our investor platform. This slide provides a snapshot of our new investment management organizations. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. I think there's probably a little bit more there than that plus everything that we've shared, and we'll continue to share will be pre-synergies just given my preference not to provide go-forward guidance or projections. We have continued to make great progress in executing our strategy, building on the momentum of what we believe is the fastest-growing RIA platform in the market. So we rolled out the first -- just for reference for others on the call that might not be familiar with what Scott is referencing. WebThe name Kurt Macalpine has over 1 birth records, 0 death records, 0 criminal/court records, 2 address records, 0 phone records & more. And just to be clear, maybe it was Scott's question as well, but on that slide 14 where you had the $73 million in wealthy EBITDA. Yes. https://www.barrons.com/advisor/articles/ci-financials-kurt-macalpine-were-just-getting-started-51641580578. Jason joined CI last week from WisdomTree, where he was Head of Investor Relations. Last week, we announced our application to cross-list our common shares on the New York Stock Exchange. Not so much. In this series of videos and articles, TD Wealth professionals share practical strategies that helped them build rewarding careers. It just doesn't really fit in regards to what we're trying to build, which is ultimately the leading private wealth platform in the U.S. Trading is expected to begin next Tuesday the 17th, under the symbol CIXX. But if you look at what we disclosed last quarter, what we've disclosed this quarter, Aligned was not in last quarter, they are in this quarter, as are a few other businesses. He also previously worked at PwC LLP, where he performed audit and business advisory services for multinational and mid-sized broker dealers. CI Prior to ADIA, Mr. Lewis was Senior Vice-President and Deputy Chief Risk Officer at Caisse de dpt et placement du Qubec (CDPQ), where he led a team that analyzed and monitored the risks of both public and private investments in the CDPQ portfolio. And I think when I look across our 12 platforms take Stavis & Cohen as an example. He joined CI in 2016 from First Asset Investment Management, where he served as Senior Vice-President, Legal and Operations. We continue to make great strides executing our corporate strategy. At WisdomTree, a global asset manager and exchange-traded fund sponsor based in New York, Mr. MacAlpine was responsible for all client-facing functions globally, including distribution, marketing, data intelligence and strategy, business development and client solutions. And we want to make sure that the individuals are excited about joining our platform, share our collective vision for creating something integrated differentiated unique and really working ourselves towards the path of being the most integrated platform out there. There are very few -- I think our integrated platform is one of the five largest RIA platforms in the U.S. currently. , we announced our application to cross-list kurt macalpine married common shares on the investment changes..., where he was Head of investor Relations I do n't like to give guidance on anything as think. 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