Seasons of Advice Wealth Management to Join Focus as a New Partner Firm, Increasing Focus' Presence in the New York City Wealth Management Market

Rhea-AI Summary

Focus Financial Partners (NASDAQ:FOCS) announced that Seasons of Advice Wealth Management has joined its partnership, enhancing Focus's footprint in the New York City wealth management market. This agreement is expected to finalize in Q4 2020, subject to customary conditions. Seasons of Advice, founded in 2017, specializes in integrated wealth management, emphasizing ESG investing. The collaboration aims to leverage Focus's resources to accelerate growth and service offerings, particularly to younger, high-net-worth clients.

Positive

• Seasons of Advice expands Focus's presence in the lucrative New York City wealth management market.
• Focus's resources will aid Seasons of Advice in accelerating growth and enhancing ESG offerings.
• Seasons of Advice has a track record of client service and growth since its inception in 2017.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / August 31, 2020 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that Seasons of Advice Wealth Management, LLC ("Seasons of Advice"), an integrated wealth management firm headquartered in New York City, 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.

Seasons of Advice was founded by Charles Hamowy, Christopher Conigliaro and Matthew Woolf in 2017. Seasons of Advice employs a full-service model that offers financial planning, investment management and insurance-related services to high net worth clients primarily in the New York City area.

Seasons of Advice views environmental, social and governance ("ESG") investing as a critical element of its investment management process, and has developed its proprietary Stewardship Personal Values Portfolios^SM to help clients meet their financial goals responsibly. These portfolios represent a significant potential growth opportunity for the firm across all client segments, especially younger and wealthier clients.

"We started Seasons of Advice to build a financial planning firm based on an innovative investment and planning approach that we believed would result in superior outcomes for our clients," said Charles Hamowy, CEO of Seasons of Advice. "ESG investing has also been an important part of our approach, as we view ESG as a critical component of the growth of our industry, and believe that investors can ‘do well by doing good' by seeking attractive returns by investing in companies that are sustainable and responsible from an ESG perspective. We expect that the resources that Focus offers will enable us to build the necessary scale to accelerate our growth and expand our ESG offerings, while also maintaining our core tenets of independence and highly personalized client service. We look forward to our partnership with Focus as we build Seasons of Advice well into the future."

"We are very pleased to welcome Seasons of Advice to the Focus partnership," said Rudy Adolf, Founder, CEO and Chairman. "This young firm will expand our presence in the important New York City wealth management market, and is led by an innovative management team with a strong and diverse group of next generation leaders. They have built an enviable track record of growth and client service that will position Seasons of Advice to capitalize on the substantial forward growth opportunity.

This transaction is another example of how Focus' unique value proposition of entrepreneurship, access to value-added services and permanent capital is resonating in the marketplace. We are a leader in a highly attractive industry that has historically experienced strong growth following market downturns. The resiliency and stability of our business positions us particularly well to capitalize on that trend."

About Focus Financial Partners

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 focusfinancialpartners.com.

About Seasons of Advice Wealth Management

Founded in 2017, Seasons of Advice Wealth Management, LLC offers integrated wealth management services to individuals and their families across the United States. The firm's comprehensive service offering includes financial planning, investment management, insurance services and ESG investing. Seasons of Advice's team of specialists works with clients through a collaborative and seasonal approach to address clients' needs holistically and comprehensively. For more information about Seasons of Advice, please visit www.soawealth.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 Inc.

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FAQ

What is the significance of Seasons of Advice joining Focus Financial Partners?

The addition of Seasons of Advice to Focus Financial Partners strengthens its presence in the New York City wealth management market and enhances its service offerings, focusing on ESG investing.

When is the transaction between Focus Financial Partners and Seasons of Advice expected to close?

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

What services does Seasons of Advice provide?

Seasons of Advice offers comprehensive wealth management services, including financial planning, investment management, insurance, and ESG investing.

How does Focus Financial Partners support its partner firms?

Focus Financial Partners provides its partner firms with access to resources, best practices, and continuity planning, while allowing them to maintain operational independence.

What is the focus of the ESG investment strategy at Seasons of Advice?

Seasons of Advice emphasizes ESG investing as a critical component of its investment management process, aiming to align financial returns with sustainable and responsible company practices.