Corient, the Miami-based U.S. subsidiary of the Canadian agency CI Monetary, has acquired a New York-based multi-family workplace with $10.4 billion in belongings below administration and advisement, strengthening its household workplace companies.
Geller & Firm gives household workplace must ultra-high-net-worth people and households, together with private CFOs and monetary administration, tax compliance, property and generational wealth planning and funding administration.
In keeping with Corient CEO and Accomplice Kurt MacAlpine, Geller’s resolution to hitch Corient “speaks to the super high quality” of the agency and the worth of its enterprise mannequin and personal partnership construction.
“We stay up for including their vital tax and CFO experience and different capabilities to our personal, additional enhancing our skill to supply purchasers with bespoke wealth administration options that transcend conventional wealth advisement,” MacAlpine stated.
Geller & Firm was based by Martin Geller in 1984, and the agency’s multi-family workplace was previously affiliated with Dynasty Financial Services. In keeping with Corient, the acquisition means the Geller workforce and purchasers will acquire entry to the agency’s tech, operations and compliance infrastructure, and elevated capital and scale.
Corient is a fiduciary, fee-only agency based in 2020, with greater than 240 companions, over 1,200 staff and about $182 billion in managed belongings for high-net-worth and UHNW people and households. In August 2023, the Toronto-based CI Monetary rebranded its U.S. wealth enterprise from CI Personal Wealth to Corient (named for one of the U.S. RIAs CI Financial had acquired)
Final month, Corient revealed it was acquiring H.M. Payson & Co., a Portland, Maine-based RIA with $7.9 billion in whole belongings (together with $1.2 billion in belief belongings via the agency’s chartered belief firm). The deal was anticipated to shut this yr. The agency was Maine’s largest RIA and could be Corient’s first location within the state post-acquisition.
CI Monetary entered the U.S. wealth market about 4 years in the past and has since acquired dozens of corporations there. In November, CI announced a $3.4 billion deal to take the corporate personal with Mubadala Capital, the choice asset administration arm of Mubadala Funding Firm.
