RIA Edge

Focus Financial co-founders Rajini Kodialam and Lenny Chang are leaving their executive roles at the firm, according to a source, and CEO Rudy Adolf may not be far behind.

California-based Litman Gregory has completed its second acquisition under parent company iM Global Partner in a bid to become a national RIA.

Following two slow months for dealmaking in the RIA space and reports that M&A is slowing but deals are growing, the industry announced no fewer than 15 transactions this week—only one of which even came close to $1 billion in transacted AUM.

The deal means a return to Homrich Berg, where Calvary’s founder Bill Cleveland worked early on in his career.

The Oregon quartet specialized in retirement planning manages around $230 million in client assets.

It's the third firm the RIA has "acquihired" in 2023.