Corient, the Miami-based U.S. subsidiary of the Canadian firm CI Financial, has acquired a New York-based multi-family office with $10.4 billion in assets under management and advisement, strengthening its family office services.
Geller & Company offers family office needs to ultra-high-net-worth individuals and families, including personal CFOs and financial management, tax compliance, estate and generational wealth planning and investment management.
According to Corient CEO and Partner Kurt MacAlpine, Geller’s decision to join Corient “speaks to the tremendous quality” of the firm and the value of its business model and private partnership structure.
“We look forward to adding their significant tax and CFO expertise and other capabilities to our own, further enhancing our ability to provide clients with bespoke wealth management solutions that go beyond traditional wealth advisement,” MacAlpine said.
Geller & Company was founded by Martin Geller in 1984, and the firm’s multi-family office was previously affiliated with Dynasty Financial Services. According to Corient, the acquisition means the Geller team and clients will gain access to the firm’s tech, operations and compliance infrastructure, and increased capital and scale.
Corient is a fiduciary, fee-only firm founded in 2020, with more than 240 partners, over 1,200 employees and about $182 billion in managed assets for high-net-worth and UHNW individuals and families. In August 2023, the Toronto-based CI Financial rebranded its U.S. wealth business from CI Private Wealth to Corient (named for one of the U.S. RIAs CI Financial had acquired)
Last month, Corient revealed it was acquiring H.M. Payson & Co., a Portland, Maine-based RIA with $7.9 billion in total assets (including $1.2 billion in trust assets through the firm’s chartered trust company). The deal was expected to close this year. The firm was Maine’s largest RIA and would be Corient’s first location in the state post-acquisition.
CI Financial entered the U.S. wealth market about four years ago and has since acquired dozens of firms there. In November, CI announced a $3.4 billion deal to take the company private with Mubadala Capital, the alternative asset management arm of Mubadala Investment Company.