ST. PETERSBURG Doyle Wealth Administration was acquired by the Canadian funding agency CI Monetary, the Toronto agency announced this week.
It’s the first Florida acquisition by considered one of Canadas greatest funding and wealth administration corporations, which has spent 2020 rising its U.S. portfolio.
CI Monetary didn’t launch any monetary particulars in regards to the transaction. The corporate stated Doyle Wealth Administration oversees $1.1 billion in property.
Doyle Wealth Administration was engaging due to its monetary planning, tax planning and excessive progress price, CI Monetary CEO Kurt MacAlpine stated in a press release. Coming into the Florida and Tampa Bay markets additionally continues the Canadian firms fast progress technique within the U.S.
There’s important potential for (Doyle Wealth Administration)s continued progress within the Tampa Bay space one of many fastest-growing giant city areas within the U.S. and all through Florida, each in wealth planning and in tax preparation companies, MacAlpine stated in a press release.
Location additionally performed an element, too. MacAlpine famous that the agency can now supply cross-border companies to Canadian shoppers as snowbirds winter in Florida.
Doyle Wealth Administration offers complete monetary planning to shoppers with excessive web worths, in keeping with its web site. The corporate was based in 2005 by Jillian and Robert Bob Doyle.
Bob Doyle didn’t reply to a name, textual content or e mail searching for remark from the Tampa Bay Instances late Thursday. However he issued a press release by CI Monetary.
This partnership will permit us to develop the depth of our service providing and enhance all elements of our operations resulting in an enhanced expertise for our shoppers,” he stated. “Becoming a member of with CI will advance the event of our agency, benefiting our shoppers and offering new alternatives for our workers.
The Doyles Bob is the president and CEO, Jillian is the chief monetary officer will proceed to run the registered funding advisor. Its operations and shoppers won’t change on account of the acquisition, CI Monetary stated.
Doyle Wealth Administration gives wealth administration, monetary planning and funding companies, and likewise prepares the taxes of sure shoppers. It made Barrons journal checklist of Floridas Prime Monetary Advisors from 2015-2020 and was ranked third in North Florida on Forbes‘ 2020 checklist of Americas Greatest in State Wealth Advisors.
Doyle Wealth Administration has established a robust fame, constructed nice capabilities in monetary planning and tax planning, and achieved distinctive progress since its founding, MacAlpine stated.
Since coming into the U.S. wealth administration sector in February, CI Monetary stated it has acquired 11 corporations and elevated its U.S. property to $14 billion. It has bought monetary corporations in Illinois, Arkansas, Massachusetts, California and Arizona.
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