Collins Investment Group to Join Focus Partner Firm XML Financial Group, Expanding XML's Presence in the Washington DC Metro-Area

Rhea-AI Summary

Focus Financial Partners Inc. (NASDAQ:FOCS) announced a definitive agreement for Collins Investment Group to join its partner firm, XML Financial Group. This strategic move aims to enhance XML's presence in the high-net-worth market of the Washington, DC area. The transaction, expected to close in Q3 2021, will allow Collins Investment Group to leverage XML's operational resources to support continued growth. The partnership reflects Focus' commitment to expanding its network and providing value to its partner firms.

Positive

• Strategic partnership to enhance XML's market presence in Washington, DC.
• Collins Investment Group will leverage XML's resources for growth.
• Expansion of high-net-worth client offerings through combined expertise.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / July 1, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Collins Investment Group ("Collins Investment Group" or "CIG"), a wealth management practice in Bethesda, Maryland, will join Rockville, Maryland-based Focus partner firm XML Financial Group ("XML"). The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions.

Robert Collins founded Collins Investment Group in 2008 to provide comprehensive wealth and investment management services to high-net-worth clients located across the country. Over the last twenty years, Bob been in included in the Forbes Best-In-State Wealth Advisors list from 2019 to 2021, and in the Barron's America's Top 1,200 Financial Advisor list from 2016 to 2018 and 2020 to 2021, and in the Forbes America's Top Wealth Advisors list in 2020. This transaction will enable the CIG team to leverage XML's operational resources to support CIG's continued growth. CIG will also gain access to XML's expanded services and investment capabilities to enhance their clients' experiences. For XML, the addition of CIG will deepen its geographic presence in the broader Washington, DC market and further position the firm for growth in the Mid-Atlantic region. The CIG management team will join the XML leadership team, adding deep regional expertise.

"Like the CIG team, XML strives to provide outstanding wealth management solutions for our clients," said Brett Bernstein, CEO and Co-Founder of XML. "We are thrilled to welcome a team with CIG's reputation, which is a result of their longstanding commitment to personalized advice. We look forward to this deal closing in the fall and to many years of partnership and continued success."

"We are pleased the CIG team will be joining XML later this year," said Rudy Adolf, Founder, CEO and Chairman of Focus. "This transaction not only expands XML's presence in the high-net-worth market in their local area, but also brings together two highly complementary businesses. It also further reinforces the value of Focus' scale, network, and highly differentiated M&A expertise to our partners. The business expansion our partner firms achieve via mergers is a powerful catalyst to the overall growth of our partnership."

About Focus Financial Partners Inc.

Focus Financial Partners Inc. is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.

About XML Financial Group

XML Financial Group ("XML") is an independent wealth and investment management firm headquartered in Rockville, Maryland. XML offers a suite of wealth and investment management services to high-net-worth individuals, businesses and families located across the country. For more information about XML, please visit www.xmlfg.com.

About the Forbes Best-In-State Advisors List

The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, gained through telephone, virtual and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years' experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings.

About the Barron's Top 1,200 Financial Advisors List

Advisors who wish to be ranked fill out a 102-question survey about their practice. That data is verified with the advisors' firms and with regulatory databases, and a rankings formula is then applied to the data to generate a ranking. The formula features three major categories of calculations: (1) Assets; (2) Revenue; and (3) Quality of practice. In each of those categories, multiple sub calculations are performed.

About the Forbes America's Top Wealth Advisors List

The Forbes ranking of America's Top Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years' experience, and the algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings.

Cautionary Note Concerning Forward-Looking Statements

This release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment, including, without limitation, uncertainty surrounding the current COVID-19 pandemic, which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.

Investor and Media Contact

Tina Madon
Senior Vice President
Head of Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-813-2909
tmadon@focuspartners.com

SOURCE: Focus Financial Partners

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FAQ

What is the focus of the agreement announced by Focus Financial Partners on July 1, 2021?

Focus Financial Partners announced a definitive agreement for Collins Investment Group to join XML Financial Group, enhancing XML's presence in the Washington, DC high-net-worth market.

When is the transaction between Collins Investment Group and Focus Financial Partners expected to close?

The transaction is expected to close in the third quarter of 2021, pending customary closing conditions.

How will Collins Investment Group benefit from joining XML Financial Group?

Collins Investment Group will leverage XML's operational resources and expanded services to enhance client experiences and support growth.

What are the potential impacts of this merger on Focus Financial Partners' business?

The merger may increase Focus Financial Partners' scale and strengthen its network, potentially driving growth for its partner firms.

What reputation does Collins Investment Group have prior to this merger?

Collins Investment Group has been recognized in several prestigious rankings, including Forbes' Best-In-State Wealth Advisors and Barron's Top 1,200 Financial Advisors.