The Globe and Mail reports in its Friday, Dec. 14, edition that CI Financial is stepping into the digital-advice business after acquiring a majority interest in robo-adviser Wealthbar Financial Services. The Globe's Clare O'Hara writes that the two firms did not disclose financial terms of the deal, which is expected to close in January, 2019. Vancouver-based Wealthbar, which first launched in 2014 and offers on-line portfolio management to investors, will continue to operate as a stand-alone business. Its co-founders, Tea Nicola and Chris Nicola, as well as Neville Joanes, chief investment officer and chief compliance officer, will stay in their positions and retain an ownership interest in the firm. There will be no changes to the firm's account fees or portfolio holdings, which include $275-million in assets under management. CI has about $172-billion in assets under management and administration. It operates a number of major players in the money-management space, including Assante Wealth Management Ltd., CI Private Counsel LP and ETF provider First Asset Investment Management. CI's Steven Donald says, "This relationship certainly accelerates our plans in the digital advice arena dramatically."