This marks CI’s 15th deal since entering the U.S. RIA market in January 2020, bringing its total U.S. assets to about $50 billion.

The company previously combined Abbot Downing and the private bank, which serves clients with assets of more than $2.5 million, under one leader.

The move reunites former United Capital acquisition executives Matt Brinker and Allen Darby.

iM Global will use the asset management firm, which has about $4 billion in assets under management, as an extension of its distribution subsidiary, iM Global U.S., and plans to keep the wealth management unit independent.

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The Department of Labor also announced it would not enforce a rule concerning proxy voting, saying it had heard from stakeholders that the rules had a 'chilling effect on appropriate integration of ESG factors in investment decisions.'

Cetera Advisors gets into the M&A game, buying its first RIA from another Genstar Capital–backed firm, Ascensus.

Some 10% now have a stake in the fast-growing RIA. 'We anticipate that the percentage that’s owned by employees should increase every year from now and ongoing,' Mallouk said.

The plan includes an extension of jobless benefits, another round of direct household payments, money for state and local governments and an expansion of vaccinations and virus-testing programs.