InterOcean Capital, a Leading Midwest Investment Management and Advisory Firm, to Join Focus as a New Partner Firm Eleventh Transaction to Date in 2020

Rhea-AI Summary

Focus Financial Partners (NASDAQ:FOCS) has announced that InterOcean Capital, a Chicago-based registered investment adviser, will join its partnership. The acquisition is set to close in Q4 2020, pending customary conditions. InterOcean has been providing personalized wealth management services since 2005 and is recognized for its hybrid investment management approach. This partnership is expected to enhance InterOcean's growth by providing access to capital and resources. Focus continues to expand its network, marking its eleventh acquisition of the year, as it aims to maintain operational independence for partner firms.

Positive

• InterOcean Capital's addition enhances Focus's market position.
• Access to growth capital will accelerate InterOcean's expansion.
• This marks Focus's eleventh transaction in 2020, indicating strong merger activity.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / August 26, 2020 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that InterOcean Capital, LLC ("InterOcean"), a Chicago-based registered investment adviser ("RIA"), has entered into an agreement to join the Focus partnership. The transaction is expected to close in the fourth quarter of 2020, subject to customary closing conditions.

Founded in 2005, InterOcean is a leading investment management and advisory firm serving clients nationally. The firm provides personalized wealth management services to high net worth individuals and families, as well as institutions, with an emphasis on long-term stewardship in addressing its clients' needs. InterOcean is known for the strength of its hybrid model: combining a differentiated approach to asset allocation and investment management with sophisticated financial planning capabilities. The firm will continue to be led by its co-founders, Rege Eisaman, Mark Carr and Jeffrey Camp, along with other leaders including Robin Patinkin, David Janczewski, Erik Larson, Jason Buck, Forrest Sumlar and Nick Rounds.

"We are excited to partner with Focus as we continue to grow our business and provide our clients with exceptional personalized advice and service," said Rege Eisaman, Chief Executive Officer & Chief Investment Officer of InterOcean. "This partnership will also give us access to the growth capital and other resources that will help us accelerate the expansion of our business."

"We are honored to have InterOcean join the Focus partnership and extend a warm welcome to their team," said Rudy Adolf, Founder, CEO and Chairman of Focus. "This will be our third partner firm acquisition and our eleventh transaction year-to-date, and we expect to announce additional transactions in the coming weeks as our M&A momentum increases. InterOcean is a rapidly growing firm that has built a leading position in the RIA industry through delivery of outstanding investment management and financial planning expertise. They have a young, dynamic management team with a strong growth mindset and will benefit substantially from access to our expertise and resources as they increase their footprint in the important Midwest and Southeast markets. Central to the success of the Focus model is that our partner firms maintain their independence while benefiting from our scale and resources to grow their businesses, serve their clients and help them plan for the future."

About Focus Financial Partners Inc.
Focus Financial Partners Inc. (NASDAQ:FOCS) 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 InterOcean Capital, LLC
InterOcean Capital, LLC is an independent investment adviser headquartered in Chicago, IL. The firm provides personalized asset management and financial planning services to high net worth individuals, families, and institutions and has expertise in the individual selection of equities, fixed income securities and alternative investments. For more information about InterOcean, please visit www.iofinance.com.

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

View source version on accesswire.com:
https://www.accesswire.com/603529/InterOcean-Capital-a-Leading-Midwest-Investment-Management-and-Advisory-Firm-to-Join-Focus-as-a-New-Partner-Firm-Eleventh-Transaction-to-Date-in-2020

FAQ

What is the significance of Focus Financial acquiring InterOcean Capital?

Focus Financial's acquisition of InterOcean Capital enhances its market position and adds a reputable firm known for personalized wealth management.

When is the acquisition of InterOcean Capital expected to close?

The acquisition is expected to close in the fourth quarter of 2020, subject to customary closing conditions.

How many transactions has Focus Financial made in 2020?

Focus Financial has made eleven transactions in 2020, reflecting its active growth strategy.

What services does InterOcean Capital provide?

InterOcean Capital provides personalized asset management and financial planning services to high net worth individuals, families, and institutions.

What is Focus Financial's business model after acquiring new firms?

Focus Financial maintains operational independence for partner firms while providing access to best practices, resources, and capital to achieve business objectives.