Investment Counsel To Join Focus Partner Firm LaFleur & Godfrey Transaction Adds Deep Investment Capabilities to LaFleur & Godfrey's Holistic Wealth Management Platform

Rhea-AI Summary

Focus Financial Partners Inc. (NASDAQ:FOCS) announced a definitive agreement for Investment Counsel, Inc. to join its partner firm LaFleur & Godfrey LLC. This merger is set to close in Q2 2021, pending customary conditions. Investment Counsel, led by Chris Walker, provides portfolio management to high-net-worth clients and will enhance L&G's investment capabilities. L&G aims to utilize Investment Counsel's expertise to strengthen client service. Rudy Adolf, Focus's CEO, highlights this transaction as a testament to their M&A strategy and succession planning.

Positive

• Acquisition enhances LaFleur & Godfrey's investment capabilities and client services.
• Investment Counsel's expert team will leverage L&G's extensive resources.
• Strengthens Focus's reputation for effective M&A and succession planning.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / April 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 Investment Counsel, Inc. ("Investment Counsel"), a registered investment adviser in Petoskey, Michigan, will join Focus partner firm LaFleur & Godfrey LLC ("L&G"), based in Grand Rapids, Michigan. This transaction is expected to close in the second quarter of 2021, subject to customary closing conditions.

Led by Chris Walker, Investment Counsel offers portfolio management services to high net worth individuals, families and institutions. Chris and his team will enhance the investment capabilities available on L&G's holistic wealth management platform and further expand its presence in West Michigan. In turn, the Investment Counsel team will benefit from L&G's resources and robust infrastructure to further enhance their clients' experience.

"We are very excited to join a firm of LaFleur & Godfrey's caliber," said Chris Walker, President of Investment Counsel. "This transaction will allow Investment Counsel to leverage L&G's extensive resources and enable us to establish a long-term continuity plan so that Investment Counsel's clients will always be taken care of."

"We are excited to welcome Chris and his talented team," said Dan Van Timmeren, Partner and Senior Portfolio Manager at L&G. "Our firms share a similar client-first service perspective. Investment Counsel's deep investment management expertise will fit well with our core capabilities. This combination will allow us to offer an even stronger set of wealth management services to all our clients."

"We are delighted that Chris and the Investment Counsel team will be joining L&G," said Rudy Adolf, CEO and Chairman of Focus. "This is L&G's second transaction in the last twelve months, and another demonstration of how we help our partner firms to enhance their client service capabilities through our differentiated M&A and sourcing expertise. This transaction also reinforces our expertise in structuring innovative succession planning solutions for founders seeking to transition their businesses."

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 LaFleur & Godfrey LLC

Tracing its origins back to 1987, L&G is based in Grand Rapids, Michigan and is one of the largest registered investment advisers in West Michigan. L&G offers investment management and financial planning services to high net worth clients, and the firm's investment philosophy is driven by precise portfolio customization for each client. For more information about L&G, please visit https://www.lafleurgodfrey.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 Inc.

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FAQ

What is the recent transaction involving Focus Financial Partners (FOCS) and Investment Counsel?

Focus Financial Partners announced that Investment Counsel, Inc. will merge with its partner firm LaFleur & Godfrey LLC, expected to close in Q2 2021.

Who leads Investment Counsel, Inc. in the merger with LaFleur & Godfrey?

Chris Walker is the President of Investment Counsel, Inc. and will lead the team in the merger with LaFleur & Godfrey.

How will the merger of Investment Counsel and LaFleur & Godfrey affect client services?

The merger will enhance client services by combining Investment Counsel's portfolio management expertise with L&G's resources.

When is the merger between Investment Counsel and LaFleur & Godfrey expected to close?

The merger is expected to close in the second quarter of 2021, subject to customary closing conditions.

What strategic benefits does Focus Financial Partners anticipate from this merger?

Focus anticipates enhanced client service capabilities and reinforced expertise in succession planning through this merger.