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CI Financial Corp. reached an agreement to acquire Thousand Oaks Financial Corporation

July 31, 2020 / PR Newswire

OCM Capital Partners LLC ("OCP"), a subsidiary of CI Financial Corp. (TSX: CIX) ("CI") of Toronto, announced today that it has reached an agreement to acquire Thousand Oaks Financial Corporation, a registered investment advisor firm based in Thousand Oaks, California operating under the name Professional Planning. Professional Planning offers financial planning and wealth management services and has approximately US$440 million in assets under management (as at June 30, 2020). Professional Planning's financial advisor team will integrate into the One Capital Management ("OCM") advisory team. This arrangement provides continuity for Professional Planning's clients while giving them and their advisors access to the additional services and support of a larger firm, said Patrick Bowen, OCM President. Professional Planning was founded by Melvyn Nachman in 1973 and its advisors have an average of 30 years of experience.