CI Investment Services

What CI Investment Services does

CI Investment Services Inc. is a Toronto-based Canadian broker-dealer and wholly-owned subsidiary of CI Financial Corp. (TSX: CIX), registered as an investment dealer under securities legislation in all Canadian provinces and territories and a member of CIRO and CIPF. The firm operates a multi-brand platform spanning four product lines: CI Direct Trading, an order-execution-only discount brokerage for self-directed retail investors; CI Direct Investing (WealthBar Financial Services Inc.), an online wealth-management service offering managed portfolios and personalized financial advice; Correspondent Services, providing prime brokerage to portfolio managers, introducing brokers, and institutional investors; and Portfolio Manager Services, a technology solution delivering automated API and Secure File Transfer Protocol onboarding plus customizable custodial reporting for traditional advisors and robo-advisors. CI Investment Services is a participant of eight Canadian equity trading venues (TSX, TSX-V, CSE, Alpha, Pure, Chi-X, Omega, NEO) and distributes through both consumer-facing self-serve channels and a B2B correspondent sales team.

The company generates revenue through three primary streams: transaction-fee-based brokerage execution (CI Direct Trading and prime-brokerage activity), recurring/managed fees from CI Direct Investing wealth-management clients, and fee-based correspondent and custodial services for portfolio managers, robo-advisors, and institutional clients. Go-to-market is hybrid: direct-to-consumer online channels serve self-directed and digital-advice clients, while a dedicated sales and business-development team targets institutional and B2B counterparties. Headcount is small (11–50 employees) and the firm expanded its retail book in August 2024 by acquiring approximately 2,050 Laurentian Bank Securities discount-brokerage accounts representing $250 million in assets under administration.

Name

CI Investment Services

Legal name

CI Investment Services Inc.

Website

https://ciinvestmentservices.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

CI Investment Services Inc. is a Toronto-based Canadian broker-dealer (subsidiary of CI Financial Corp.) offering discount brokerage, online wealth management, prime brokerage, and portfolio-manager technology services across Canada.

Ownership category

akta.pro rank

Product category

Brokerage Services

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Portfolio Management and Investment Advice (523940)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Full-Service Brokerage (Wirehouse/Universal) (FSAEACAA)

akta.pro secondary industry

Multi-Asset / Cross-Asset Brokerage (FSAEACAM)

Keywords

• Discount brokerage services
• Prime brokerage services
• Online wealth management
• Portfolio management technology
• Canadian investment dealer

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Brokerage Transaction Services: Order-execution only discount brokerage services for self-directed investors through CI Direct Trading brand.
2. Wealth Management Services: Online wealth management firm providing managed investment portfolios and personalized financial advice through CI Direct Investing (WealthBar).
3. Correspondent and Prime Brokerage Services: Services for portfolio managers, introducing brokers, and institutional investors including prime brokerage and custodial reporting.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels2 records

Core offering

CI Investment Services Inc. is a Canadian broker dealer that delivers brokerage and trading services across four core brands: CI Direct Trading provides order-execution only discount brokerage to self-directed investors, CI Direct Investing (WealthBar) offers online managed investment portfolios with personalized financial advice, Correspondent Services delivers prime brokerage to introducing brokers and institutional investors, and Portfolio Manager Services provides an integrated customizable technology platform with API and SFTP automation for portfolio managers and robo-advisors. The firm is registered as an investment dealer in all Canadian provinces and territories, is a member of CIRO and CIPF, and participates in multiple Canadian equity exchanges.

Product overview

CI Investment Services Inc. operates as a leading Canadian broker dealer offering a multi-brand platform of brokerage and trading services. The portfolio consists of CI Direct Trading (order-execution discount brokerage for self-directed investors), CI Direct Investing (online wealth management with managed portfolios and personalized financial advice through WealthBar Financial Services), Correspondent Services (prime brokerage for institutional clients), and Portfolio Manager Services (customizable technology solutions with API and SFTP capabilities for portfolio managers and robo-advisors). The company also expanded through acquisition by assuming Laurentian Bank Securities' discount brokerage client accounts. CI Investment Services is registered as an investment dealer in all Canadian provinces and territories and is a member of CIRO and CIPF.

Differentiator

Problem solved

Functional benefit

Products and services

• CI Direct Trading Order-execution only discount brokerage for self-directed investors who do not require financial advice. A registered business name of CI Investment Services Inc., registered as an investment dealer under Canadian securities legislation in all provinces and territories and a member of CIRO and CIPF.
• CI Direct Investing (WealthBar) Online wealth management firm providing managed investment portfolios along with personalized financial advice and planning. A registered business name of WealthBar Financial Services Inc., a registered portfolio manager under securities legislation in all Canadian provinces and territories. CI Direct Investing is not a member of CIPF or CIRO.
• Correspondent Services (Prime Brokerage) Prime brokerage offering a complete range of innovative services tailored to specific requirements of introducing brokers and institutional investors, delivered by an expert prime brokerage team providing superior service.
• Portfolio Manager Services Integrated customizable technology solution for portfolio managers and introducing brokers, with competitive pricing for traditional and robo-advisors (both start-up and established). Includes an automated API and Secure File Transfer Protocol that facilitates seamless onboarding and accurate customizable custodial reporting.

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Laurentian Bank SecuritiescoreStrategic or Co-development Partner · 12 August 2024CI Investment Services Inc., a subsidiary of CI Financial Corp., entered into an agreement with Laurentian Bank Securities to assume client accounts and assets under administration of the Discount Brokerage division. The transfer involves approximately 2,050 clients with $250 million in assets, expected to complete before year-end pending regulatory approval.

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Wealthsimple: Canadian online wealth management and self-directed investing platform serving retail and mass-affluent clients. Directly comparable to CI Direct Investing (WealthBar) managed portfolios and CI Direct Trading execution services.
• Questrade: Canadian self-directed discount brokerage offering order-execution-only trading, alongside managed portfolios and forex. Directly comparable to CI Direct Trading and CI Direct Investing as a multi-channel Canadian retail broker.
• Qtrade Direct Investing: Canadian discount brokerage (now part of Aviso Wealth) offering self-directed trading and managed solutions. Closely comparable to CI Direct Trading in retail brokerage positioning within Canada.
• BBS Securities: Canadian broker-dealer providing execution, correspondent, and prime-brokerage services to portfolio managers, introducing brokers, and institutional clients. Comparable in correspondent services and PM/robo-advisor technology positioning.

Broad incumbents

• RBC Direct Investing: Bank-owned Canadian discount brokerage of Royal Bank of Canada, serving self-directed investors with execution services. Comparable retail-broker offering, leveraging RBC's broader banking franchise.
• TD Direct Investing: Bank-owned Canadian retail brokerage arm of TD Bank, offering self-directed and advised investing alongside the broader bank. Comparable as a full-service Canadian broker, but operating inside a much larger incumbent institution.
• Interactive Brokers (Canada): Global multi-asset broker with Canadian operations, offering execution and prime-brokerage-style services to active traders, portfolio managers, and institutional clients. Comparable in correspondent/prime brokerage functionality.
• BMO InvestorLine: Bank-owned Canadian discount brokerage of BMO, providing self-directed trading and managed solutions. Comparable retail broker with similar all-provinces reach and bank-distribution advantages.
• Scotia iTRADE: Bank-owned Canadian online brokerage of Scotiabank for self-directed investors. Comparable discount brokerage offering with similar client segments and pricing dynamics.

Regional players

• Desjardins Online Brokerage (Disnat): Canadian (Quebec-rooted) online discount brokerage serving self-directed retail investors, with strong distribution through the Desjardins cooperative network. Comparable retail brokerage offering in overlapping Canadian segments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CI Investment Services