Home Breadcrumb caret Industry News Breadcrumb caret Industry CI to acquire strategic stake in RIA The Cabana Group is the third RIA CI has taken an interest in By Maddie Johnson | April 21, 2020 | Last updated on April 21, 2020 1 min read Toronto-based CI Financial Corp. announced Tuesday it is set to acquire a strategic interest in registered investment advisor (RIA) The Cabana Group, LLC. Based in Fayetteville, Ark., Cabana specializes in offering risk-managed portfolios to retail clients and on a subadvisory basis to advisors and RIAs across the U.S., CI said in a release. Cabana’s Target Drawdown Portfolios — currently available only in the U.S. — are designed to minimize losses within a predetermined drawdown parameter. “Given current market conditions and the ongoing need for effective retirement solutions, there is a tremendous and timely opportunity to offer the Target Drawdown Series to a wider audience in both the U.S. and Canada,” CI CEO Kurt McAlpine said in a statement. CI agreed to acquire majority stakes in Phoenix-based Surevest Wealth Management and California-based One Capital Management late last year. Terms of the deal were not disclosed. Correction: A previous version of this article said CI Financial was acquiring a majority stake in The Cabana Group. Maddie Johnson Maddie is a freelance writer and editor who has been reporting for Advisor.ca since 2019. Save Stroke 1 Print Group 8 Share LI logo