Prairie Capital Management to Join the Focus Partnership, Strengthening Focus' Position Among Firms Who Serve Ultra-High Net Worth Clients

Rhea-AI Summary

Focus Financial Partners Inc. (NASDAQ:FOCS) announced that Prairie Capital Management, LLC has entered an agreement to join its partnership. The transaction is set to close in Q2 2021, pending customary conditions. Prairie, established in 1995, provides fiduciary wealth management services to ultra-high net worth individuals and institutions. This partnership aims to enhance Prairie's service offerings while preserving its operational independence. Focus emphasizes its commitment to empowering partner firms with resources and expertise, reflecting a growing trend in the industry.

Positive

• Prairie Capital Management expands Focus's portfolio, enhancing its position in the ultra-high net worth sector.
• The partnership allows Prairie to maintain its independence while gaining access to Focus's resources and strategic advice.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / February 25, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that Prairie Capital Management, LLC ("Prairie"), a registered investment advisor (RIA) headquartered in Kansas City, Missouri, has entered into an agreement to join the Focus partnership. This transaction is expected to close in the second quarter of 2021, subject to customary closing conditions.

Since 1995, Prairie's founders and principals have provided fiduciary wealth management services to a select group of ultra-high net worth individuals, family offices, foundations, endowments and other institutions across the U.S. With a steadfast commitment to providing objective advice and comprehensive, highly customized client service, Prairie is one of the premier RIAs in the Midwest.

"We founded Prairie on the belief that affluent families and successful organizations deserve an advisory firm that offers a highly personalized and integrated approach to achieving their wealth management goals. We believe our growth these last 25 years has resulted from earning our clients' confidence through our singular focus on doing what is best for them," said Brian Kaufman, a founder and Managing Director of Prairie. "We are excited to be partnering with Focus as their track record of providing extensive resources and strategic advice to leading RIAs serving a similar clientele will be invaluable to Prairie. Additionally, partnering with Focus allows us to preserve our independence and maintain our entrepreneurial identity, while enhancing our ability to serve our clients."

"We are thrilled that Prairie will be joining the Focus partnership," said Rudy Adolf, Founder, CEO and Chairman of Focus. "Prairie's sophisticated investment platform and deep commitment to fiduciary advice has led them to become one of the top firms in the ultra-high net worth space. Prairie's distinguished management team and nationwide clientele positions them well for the future."

"Prairie's decision to join Focus reflects the distinctiveness of our value proposition to firms that want to maintain their entrepreneurship and operational independence, yet see the benefits of joining a diverse, global partnership. Our ability to help our partner firms enhance the tools and services they offer their clients and benefit from our scale, expertise and innovation are unmatched in this industry."

About Focus Financial Partners Inc.

Focus Financial Partners 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 focusfinancialpartners.com.

About Prairie Capital Management, LLC

Prairie Capital Management, LLC, a registered investment advisor, traces its roots to 1995. It was formed in response to clients' desire for objective, customized and innovative wealth management services. Today, Prairie serves clients across the United States through its headquarters in Kansas City, with additional principals in the Chicago and Dallas metropolitan areas. Their clients include ultra-high net worth individuals, family offices, foundations, endowments and other institutions. Prairie's sole business is wealth management, investment consulting and managing proprietary funds. Their investment philosophy focuses on providing sophisticated wealth management services which are customized to meet the needs of each client, while seeking to generate attractive risk-adjusted returns across full market cycles. Services provided include investment management, financial planning, tax and estate planning, coordination with third-party service providers and other family office services. For more information about Prairie, please visit https://www.prairiecapital.com.

Cautionary Statement 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/632277/Prairie-Capital-Management-to-Join-the-Focus-Partnership-Strengthening-Focus-Position-Among-Firms-Who-Serve-Ultra-High-Net-Worth-Clients

FAQ

What is the significance of Prairie Capital Management joining Focus Financial Partners?

Prairie's inclusion enhances Focus's offerings in the ultra-high net worth client segment, strengthening its market position.

When is the Prairie Capital Management and Focus partnership expected to be finalized?

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

What services does Prairie Capital Management provide?

Prairie specializes in fiduciary wealth management services for ultra-high net worth individuals, family offices, and institutions.

How does the partnership benefit Prairie Capital Management?

The partnership allows Prairie to remain independent while enhancing its ability to serve clients with Focus's resources and expertise.