Focus Financial gains access to 'huge money' -- $320 million in credit
The capital hoard positions the big aggregator to double its advised assets, one observer says
Jeff Spears
This is a MAJOR deal!
Irony is that Bank of America is loaning money to a firm that will be recruiting their advisors.
Silo mentallity>
Elmer Rich III
Getting money isn’t hard. Finding good ideas to execute on in a hyper competitive market is “impossible.”. Wish them luck.
Brooke Southall
I like the short, pithy comments.
Brooke
Elmer Rich III
This is not that complicated. We aren’t looking for a cure to cancer. lol
Related Moves
With RIA valuations ticking down and successions ticking up, Focus Financial deep sixes 'drunken sailor' pause, forgoes buyback plan and adds a CEO
CEO Rudy Adolf sees a 'softening' in multiples after a couple of frothy years when CI Financial dominated headlines and big RIA deals
August 13, 2022 at 12:39 AM
Focus Financial makes 'abrupt' CEO call, lets Rudy Adolf go into 'retirement,' with 'no solution in place;' the eighth RIA chief executive unseated since June as VCs move in -- where is the EBITDA?
Clayton, Dubilier & Rice closed on its $7-billion purchase of the roll-up on Aug. 31 -- with no hint that its parting of the ways with legendary 60-year-old founder was in the offing.
October 24, 2023 at 1:19 AM
Fidelity Investments' plan to hire 12,000 by October hit wall of macro-headwinds; no problem, it landed at 15,000; Schwab keeps hiring, too
The Boston giant's people grab could be derailed by indigestion -- the inability to assimilate staff -- an analyst says; but it has yet to materialize so the hiring spree rolls on.
October 29, 2022 at 12:02 AM
Looking past Covid-19 pandemic, Louisiana RIA buys $1-million building after hitting $1 billion in AUM and hiring the town's mayor
Summit Financial Wealth Advisors was sold to Focus Financial in 2014, growing its assets by $400 million since then but keeping staffing about the same
December 17, 2020 at 3:02 AM
See more related moves
Tiburon Strategic Advisors
Consulting Firm
Top Executive: Charles Roame
Focus Financial Partners, LLC
Consolidator/Roll-up Firm
Top Executive: Rudy Adolf
