RGT Wealth Advisors, LLC, a Texas-based subsidiary of CI Financial Corp., has acquired Odyssey Wealth Management, LLC, another Dallas-area registered investment advisor (RIA) that’s dedicated to wealthy clientele.
The Thursday acquisition of Odyssey (which manages more than US$200 million in assets from offices in Plano, Texas) brings RGT’s total assets to approximately US$5.5 billion, a release said. The deal also solidifies the firm’s presence in the Dallas region.
“Joining RGT and CI Private Wealth will provide our employees and clients with the scale and resources of a much larger firm, ultimately improving the financial outcomes we seek to achieve for our clients,” said Brent Little, founder and chief executive officer of Odyssey.
Established in 1985, RGT Wealth Advisors provides wealth management and investment management services to high-net-worth individuals and family offices.
Kurt MacAlpine, CI chief executive officer, said in the release, “[This combination] supports the continued development of the CI Private Wealth platform through the growth of RGT, one of the country’s leading RIAs, with an exceptional leadership team, a highly experienced, expert staff, and a long-term track record of growth and success.”
CI’s U.S. wealth management assets are expected to reach approximately US$84 billion, or $106 billion, based on this transaction alongside others.
The terms of the transaction weren’t disclosed.