Whether it’s adding on or spinning off, CI Financial’s still young stateside wealth business continues to be a point of pride for the Toronto-based firm’s leaders as difficult market conditions rear their head in quarterly earnings.
“Our expansion in wealth management in the United States and Canada has added stability and diversification to our business, with our U.S. operations making increasing contributions to revenues and earnings, CI Financial CEO Kurt MacAlpine said in a second-quarter earnings statement released Thursday.
“Despite continued volatility in capital markets, we achieved year-over-year growth in overall EBITDA, earnings per share and free cash flow per share.”
Scroll down to see the most important wealth management takeaways from CI Financial’s Q2 earnings report.
Note: CI Financial discloses its quarterly returns in Canadian dollars. Unless otherwise mentioned, all figures are in Canadian rather than U.S. dollars.