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Fast Growing US Wealth Manager Makes Two Private Client Acquisitions
New York-based wealth management group Focus Financial Partners has acquired two private client firms: HoyleCohn of San Diego, California an...
New York-based wealth management group Focus Financial Partners has acquired two private client firms: HoyleCohn of San Diego, California and Resnick Investment Advisors of Westport, Connecticut. Terms of the transactions were not disclosed.
Focus said in a statement that the two acquisitions now give it $4.5 billion in client assets, making it one of the top ten independent wealth management groups in the US.
Focus was formed earlier this year with the backing of private equity group, Summit Partners. Its managing partner is Ruediger Adolf, formerly a partner at McKinsey & Co. and a senior executive at American Express.
The founding firms behind Focus include: Capital Advisory Group in Virginia; Founders Financial Network, in California; Geller Group in New York; and StrategicPoint in Rhode Island.
