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Focus Financial Partners Inc. - FOCS STOCK NEWS

Welcome to our dedicated page for Focus Financial Partners news (Ticker: FOCS), a resource for investors and traders seeking the latest updates and insights on Focus Financial Partners stock.

Focus Financial Partners Inc. (NASDAQ: FOCS) is a distinguished partnership of independent, fiduciary wealth management firms. The company offers a comprehensive range of wealth management, benefit, and investment consulting services. Focus provides unparalleled access to best practices, advanced resources, and continuity planning for its partner firms, who cater to individuals, families, employers, and institutions.

Focus's unique business model allows partner firms to maintain their operational independence while benefiting from the synergies, scale, and economic advantages of being part of a market leader. This structure aids partner firms in achieving their business objectives and delivering high-quality services to their clients. Recent achievements include robust revenue growth and the strategic acquisition of new partner firms, which contributed significantly to the company's financial performance.

As of June 30, 2023, Focus reported total revenues of $583.8 million for the second quarter, marking an 8.3% increase from the previous year. However, Focus also reported a GAAP net income decrease to $29.1 million from $49.3 million in the same period the previous year, primarily due to higher interest expenses on borrowings. The company holds $137.0 million in cash and cash equivalents, with $2.7 billion in debt outstanding under its credit facilities.

Focus is currently in the process of being acquired by affiliates of Clayton, Dubilier & Rice, LLC, a transaction expected to be finalized by the third quarter of 2023. This acquisition, alongside continuous mergers like those with InterOcean Capital Group, LLC, Omega Financial Solutions Pty Ltd, Ketoret Capital, LLC, and the latest agreement involving GW & Wade, LLC joining The Colony Group, LLC, reflects Focus's strategic efforts to expand its market presence and enhance service offerings.

Focus Financial Partners continues to leverage its extensive M&A expertise and industry connections to support its partners, ensuring they are well-positioned to serve their clients effectively. For more information about Focus Financial Partners, please visit www.focusfinancialpartners.com.

News

GW & Wade To Join The Colony Group In Major Transaction

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Focus Financial Partners Inc. announces a merger agreement with GW & Wade, LLC, joining forces with The Colony Group, LLC. The transaction combines GW & Wade's $10.4 billion regulatory AUM with Colony's $21.1 billion regulatory AUM, marking Focus' second intra-partnership merger. The merger is expected to close in Q1 2024.
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Wasserman Wealth Management to Join Focus Partner Firm Buckingham Strategic Wealth, Expanding Buckingham's Presence in Michigan

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Focus Financial Partners announced that Wasserman Wealth Management, LLC will join Focus partner firm Buckingham Strategic Wealth, LLC. The transaction is expected to close in the first quarter of 2024. Wasserman has utilized Buckingham's comprehensive wealth management platform since 2003, providing investment management and financial planning advice to clients across the country. Managing Member Brad Wasserman expressed confidence in the move, stating that joining Buckingham was a logical step in the evolution of their firm. Adam Birenbaum, Chairman and CEO of Buckingham, welcomed the new team and expressed excitement about the deep history shared with Wasserman. Travis Danysh, Head of Mergers and Acquisitions for Focus, highlighted Buckingham's strength in providing fee-only wealth management services and their potential for another strong year in M&A.
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Mesa Financial Group to Join Focus Partner Firm Buckingham Strategic Wealth, Strengthening Buckingham’s Presence in Atlanta

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Focus Financial Partners (FOCS) announced the definitive agreement for Mesa Financial Group, LLC to join Focus partner firm Buckingham Strategic Wealth, LLC. The transaction is expected to close in Q1 2024. Mesa Financial Group, led by Alfredo Mesa, CFP®, will bring its comprehensive wealth management services to Buckingham, leveraging its resources and support to further serve clients in Atlanta and throughout the country.
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Sutton Wealth Advisors To Join Focus Partner Firm Cornerstone, Enhancing Cornerstone's Southeastern Footprint

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Focus Financial Partners (FOCS) announced the definitive agreement for Sutton Wealth Advisors, Inc. to join Cornerstone Wealth Group, LLC. The transaction is expected to close in Q1 2024. Sutton Wealth is a Tampa-based wealth management firm serving high net worth individuals and families in Florida. The merger aims to provide Sutton Wealth clients with access to Cornerstone's talent and operational scale, while Cornerstone gains a team with deep planning capabilities in a fast-growing market.
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CORRECTION BY SOURCE: Ketoret Capital to Join Focus Partner Firm Telemus Capital, Further Expanding Telemus’ Presence in the Chicago Wealth Management Market

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Focus Financial Partners (Focus) announces a definitive agreement for Ketoret Capital, LLC to join Telemus Capital, LLC, expected to close in the first quarter of 2024. The merger aims to enhance client services and resources, adding talented professionals and a strong client base to Telemus. The partnership reflects a commitment to client care and comprehensive financial planning, providing a seamless transition for Ketoret's team.
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Ketoret Capital to Join Focus Partner Firm Telemus Capital, Further Expanding Telemus’ Presence in the Chicago Wealth Management Market

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Focus Financial Partners (FOCS) announces the definitive agreement for Ketoret Capital, LLC to join Telemus Capital, LLC, expected to close in Q1 2024. The transaction aims to enhance client services and resources, leveraging Ketoret's personalized advice and client-first service with Telemus' infrastructure. The partnership is seen as a strategic fit, adding talented professionals and a strong client base to Telemus' wealth market, reflecting Focus' M&A expertise and extensive industry network.
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Sydney-Based Omega to Join Focus Partner Firm MEDIQ Financial Services, Expanding MEDIQ’s Presence in Australia

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Focus Financial Partners Inc. announced that Omega Financial Solutions and Omega Accounting Solutions will join partner firm MEDIQ Financial Services. The transaction is expected to close in Q4 2023. Omega aims to be a one-stop shop for medical professionals by providing tax, mortgage, insurance, and accounting services. Joining MEDIQ will provide a succession plan for Omega's clients and allow them to capitalize on MEDIQ's resources. For MEDIQ, this transaction represents an opportunity to establish its presence in the medical professional financial services space and expand in Sydney.
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Focus Financial Partners Appoints Dan Glaser as Interim Chief Executive Officer

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Focus Financial Partners announces the appointment of Dan Glaser as Interim CEO, succeeding Rudy Adolf who will retire at the end of the year. Glaser brings over 40 years of experience in the financial services industry and plans to work closely with the leadership team and partner firms.
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33 Focus Partner Firms Named to Forbes/SHOOK 2023 List of America's Top RIA Firms

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Focus Financial Partners announces that 33 of its partner firms were named to the Forbes/SHOOK 2023 America's Top RIA Firms list.
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10 Focus Partner Firms Named to Barron’s 2023 List of Top 100 RIA Firms

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Focus Financial Partners Inc. announced that 10 of its partner firms were named to the Barron's 2023 List of Top 100 RIA Firms. Steve Cassaday of Cassaday & Company was also named to both the Barron's 2023 list of Top 100 Financial Advisors and the Barron's 2023 list of Top 100 Independent Advisors.
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FAQ

What is the market cap of Focus Financial Partners (FOCS)?

The market cap of Focus Financial Partners (FOCS) is approximately 3.5B.

What services does Focus Financial Partners provide?

Focus Financial Partners offers wealth management, benefit, and investment consulting services to individuals, families, employers, and institutions.

How do Focus's partner firms benefit from the partnership?

Partner firms maintain operational independence while benefiting from synergies, scale, economic advantages, and access to best practices provided by Focus.

What recent financial performance has Focus reported?

For Q2 2023, Focus reported total revenues of $583.8 million, an increase of 8.3% from the previous year, despite a decrease in net income due to higher interest expenses.

Who are some of Focus's latest acquisitions?

Recent acquisitions include InterOcean Capital Group, LLC, Omega Financial Solutions Pty Ltd, Ketoret Capital, LLC, and GW & Wade, LLC joining The Colony Group, LLC.

Is Focus Financial Partners being acquired?

Yes, Focus is in the process of being acquired by affiliates of Clayton, Dubilier & Rice, LLC, with the transaction expected to close in Q3 2023.

What is the purpose behind Focus's acquisition strategy?

Focus's acquisition strategy aims to expand its market presence, enhance service offerings, and support its partner firms with advanced resources and M&A expertise.

Where can I find more information about Focus Financial Partners?

For more information, visit the official website at www.focusfinancialpartners.com.

What kind of financial condition is Focus currently in?

As of June 30, 2023, Focus has $137.0 million in cash and cash equivalents and $2.7 billion in debt outstanding under its credit facilities.

What impact does Focus's partnership model have on its firms?

Focus's model allows firms to leverage the scale and resources of a larger entity while maintaining independence, enabling them to achieve their business goals more effectively.

How does Focus support its partner firms?

Focus supports its partner firms through access to best practices, advanced resources, continuity planning, and strategic M&A activities.

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Focus Financial Partners Inc.

Nasdaq:FOCS

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FOCS Stock Data

3.50B
58.22M
0%
92.66%
4.51%
Asset Management
Financial Services
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United States
New York