Focus Financial Group

Two recent deals by aggregators for sizable registered investment advisors show how both sides can benefit from such mergers. Late Tuesday Focus Financial Partners said it had signed up Sapient Private Wealth Management of Eugene, Ore., a practice with more than $500 million in assets under management that was formed just a year ago by three former Morgan Stanley Smith Barney advisors....More

Focus Financial Partners LLC in New York is one of the largest registered investment advisor aggregators in the country, but Chief Executive and founder Rudy Adolf likes to say that the company is not interested in turning entrepreneurs into employees. The philosophy resonated with the partners at The Colony Group in Boston, one of the oldest RIAs in the country (founded in 1986.) Today Focus announced that it would acquire Colony effective Oct. 1, making it Focus’ fourth deal so far this year. Colony, which has $1.3 billion in assets under management, will make Focus a $45 billion player; not bad for a company that started just five years ago with $3 billion in assets. Adolf hints that more deals are in the works: “We actually believe this is going to be a very good year for us.”...More