ITASCA, Ill., Aug. 31, 2020 /CNW/ - Balasa Dinverno Foltz LLC ("BDF"), one of the Chicago area's foremost wealth management firms, and CI Financial Corp. ("CI") (TSX: CIX) of Toronto are pleased to announce that BDF has once again been recognized as a top employer in the area, being named a winner in the Best Places to Work in Illinois 2020 survey.
BDF was ranked Number 1 of 39 finalists in the small employer category of the survey, designed to identify, recognize and honor the best places of employment benefiting the state's economy, workforce and businesses. This is the 10th consecutive year that BDF has appeared on the winners' list and the seventh consecutive year it has ranked in the top 10 of its category. The honors continued as BDF was ranked Number 3 for best places to work for Women and Number 3 for best places to work for Millennials. These rankings were among all sized employers.
The awards follow similar recent recognitions from Crain's Chicago Business, as BDF was ranked Number 2 overall and Number 1 in financial services on Crain's 2020 list of 100 Best Places to Work in Chicago, as well as InvestmentNews, as BDF was ranked Number 2 in 2020 list in the large category for financial advice firms.
"It is heartwarming to be recognized by our team as the best place to work in all of Illinois," said Armond Dinverno, BDF President and Co-Founder. "These awards reflect our high-performing culture which is based on attracting and retaining top talent to serve our mission of helping our clients enjoy a full life."
BDF is a registered investment advisor ("RIA") firm with approximately $4.6 billion in assets as of July 31, 2020. Its team of 62 people provide customized wealth management services to individuals and families, business owners and institutions and non-profit organizations in the Chicago area. BDF recently agreed to be acquired by CI, a global asset and wealth management firm.
"We extend our congratulations once again to the BDF team for building an outstanding reputation as an employer and a firm," said Kurt MacAlpine, CI Chief Executive Officer. "We are proud to be associated with such a high-quality organization and look forward to a rewarding partnership."
In the Best Places to Work in Illinois, companies from across the state were evaluated for their workplace policies, practices and demographics. In addition, an employee survey was used to measure the employee experience as part of the evaluation process. The competition is managed by the Best Companies Group and sponsored by the Daily Herald Business Ledger, the Illinois Chamber of Commerce, MRA – The Management Association, and the Small Business Advocacy Council. The final rankings were announced earlier this month.
CI is acquiring BDF as part of CI's strategy to expand its presence in wealth management and to globalize the firm. With the acquisition of BDF, CI will have over $11 billion in wealth management assets in the United States. BDF will form a cornerstone of CI's business and a platform for continued expansion.
About Balasa Dinverno Foltz
BDF was founded in 2001 by Mark Balasa, Armond Dinverno, and Mike Foltz, who each have more than three decades of industry experience. BDF provides personalized investment management and financial planning, and manages approximately $4.6 billion as of July 31, 2020 on behalf of business owners, individuals and families, and institutions. BDF's expertise includes practice groups specializing in the unique needs of women, widows, business owners, insurance brokers and agency owners, lawyers, financial professionals, and divorcing individuals. BDF has received extensive recognition, including being listed on the 2020 FT300: Top Registered Investment Advisors, being ranked Number 30 on the RIA Channel Top 100 Wealth Managers for 2020, and appearing on the Barron's Top 50 RIAs list in 2019. For more information, visit www.bdfllc.com.
About CI Financial
CI Financial Corp. (TSX: CIX) is an independent company offering global asset management and wealth management advisory services. It held approximately C$187 billion (US$140 billion) in assets as of July 31, 2020. CI's primary asset management businesses are CI Investments Inc. and GSFM Pty Ltd., and it operates in wealth management through Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, WealthBar Financial Services Inc., BBS Securities Inc., The Cabana Group, LLC, Congress Wealth Management, LLC, One Capital Management, LLC and Surevest LLC. Further information is available at www.cifinancial.com.
This press release contains forward-looking statements concerning anticipated future events, results, circumstances, performance or expectations with respect to CI Financial Corp. ("CI") and its products and services, including its business operations, strategy and financial performance and condition. Forward-looking statements are typically identified by words such as "believe", "expect", "foresee", "forecast", "anticipate", "intend", "estimate", "goal", "plan" and "project" and similar references to future periods, or conditional verbs such as "will", "may", "should", "could" or "would". These statements are not historical facts but instead represent management beliefs regarding future events, many of which by their nature are inherently uncertain and beyond management's control. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements involve risks and uncertainties. The material factors and assumptions applied in reaching the conclusions contained in these forward-looking statements include that the investment fund industry will remain stable and that interest rates will remain relatively stable. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market conditions, including interest and foreign exchange rates, global financial markets, changes in government regulations or in tax laws, industry competition, technological developments and other factors described or discussed in CI's disclosure materials filed with applicable securities regulatory authorities from time to time. The foregoing list is not exhaustive and the reader is cautioned to consider these and other factors carefully and not to place undue reliance on forward-looking statements. Other than as specifically required by applicable law, CI undertakes no obligation to update or alter any forward-looking statement after the date on which it is made, whether to reflect new information, future events or otherwise.
SOURCE CI Financial Corp.
For further information: CI Financial Corp., Murray Oxby, Vice-President, Communications, (416) 681-3254, [email protected]