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WealthBar and CI Financial

Why did WealthBar join the CI Financial group? 

Joining forces with a strong independent organization like CI Financial helps us make investments accessible to even more Canadians. We will now have improved integration with our back-office custodian, BBS Securities, translating into improved administrative efficiency and reporting for you.

Who is CI? 

CI Financial is a Canadian owned independent wealth management firm with $173 billion in fee-earning assets. Established in 1965, CI is one of the largest investment companies in Canada.

Are you now owned by a bank?

No, CI Financial group is an independent wealth management provider. Learn more about CI Financial. 

Who owns CI? 

CI Financial Corp. (TSX: CIX) is an independent Canadian company offering global asset management and wealth management advisory services.

Will you change your portfolios to use CI investments?

While this may provide access to new investment opportunities for our clients, we will continue to monitor all investment opportunities without bias to ensure clients have the best investments possible. 

Can I invest in CI funds through WealthBar? 

As a discretionary Portfolio Manager, WealthBar manages all the day-to-day decisions for you to ensure that your investments are suitable.  WealthBar clients do not self direct individual investment selection.

Are Nicola Wealth investments still available?

Yes, Nicola Wealth investments will continue to be available through our Private Investment Portfolios. 

Will my account information, login details, etc. remain the same?

Yes, all your account details will remain the same.

Do I have to do anything?

No.  You don't need to take any action.

Will my fees change? 

No, our fees will remain unchanged.

Will there be any changes to WealthBar’s management team?

WealthBar has an exceptionally talented management team. They are remaining with the firm  and retaining an ownership interest in the WealthBar business.  Their expertise will  also further  CI’s overall digital strategy.

How has the Relationship Disclosure document changed?

We’ve recently updated our Relationship Disclosure document as a result of WealthBar’s acquisition by CI Financial earlier this year.  

The following includes material changes and their implications to investors as a result of this update:

  • Ownership: While WealthBar continues to operate independently, it is now a subsidiary of CI Financial Corp. and an affiliate of CI Investments Inc.
  • Disclosure: We have expanded disclosure of the various investment risks so that you can better understand risks that may be associated with your portfolio and underlying investments.
  • Reporting: We’ll offer more in-depth and frequent account reporting, so you can stay more connected to your portfolio’s performance. 
  • Board of directors: Our board of directors has changed. Now WealthBar directors may also act as directors and officers of CI Financial and/or its related affiliates.
  • Service arrangements: To take advantage of back-office support, product, distribution services and client referrals, WealthBar may enter into or have service arrangements with CI Financial or its affiliates.
  • Fund selection: WealthBar may choose investments from a related fund manufacturer. However, our independent due diligence and selection process (based on investment product characteristics and suitability for the portfolio) will remain unchanged.

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