WealthBar

WealthBar Executives in their equity sale to CI Financial Corp.

Client

WealthBar Executives

Value

-

Service

Mergers and Acquisitions

Date Closed

May 2020

Industry

FinTech

Lead Office

Vancouver


 

On May 21, 2020, CI Financial Corp. announced the acquisition of a 25% equity stake in WealthBar from the WealthBar executive team. The transaction increases CI Financial’s ownership of WealthBar to 100% and will eventually allow WealthBar to be combined with Virtual Brokers to create an integrated online investment platform, CI Direct Investing. Following CI Financial’s strategy, WealthBar will be rebranded to CI Direct Investing in the coming months. Once the platforms are fully integrated, CI Direct Investing will offer a variety of services including the online brokerage services, wealth management and financial planning services.

WealthBar Financial Services is a leading Canadian online wealth management and financial planning platform specialized in online investing portfolios and commission-free advice.

CI Financial Corp. is an independent diversified wealth management firm specialized in global asset management and wealth advisory services.  

Osler, Hoskin & Harcourt LLP advised the WealthBar executive team with a team consisting of Mark Longo (Emerging & High Growth Companies), Patrick Sullivan and Sagar Memon (Corporate).  


Team
Mark Longo - Technology Lawyer
Key Contact

Mark Longo

Partner, Emerging and High Growth Companies

Patrick has a broad corporate practice with an emphasis in securities, mining and corporate gover..

Patrick Sullivan

Associate, Corporate

Sagar Memon

Sagar Memon

Associate, Corporate