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Bypassing PR Newswire, Focus Financial reports purchase of $1.9B AUM RIA and it gets curiouser from there

The New York-based roll-up buys Brownlie & Braden Advisors LLC no asset-based fees, no photos of principals and a big-time second-entity sister firm

Author Brooke Southall July 24, 2017 at 11:48 PM
no description available
Rudy Adolf: In the second decade of our growth we expect the number of our deals to continue to increase as we pursue additional partnerships with the highest-caliber firms in the industry.

Rudy Adolph

Stephen Winks

Stephen Winks

July 25, 2017 — 3:48 PM
70 years ago there was high connectivity between capital formation/investment banking and brokerage/investments. There need not be a conflict of interest yet the conflict exists. With the brokerage industry commanding 40% of the investors earnings of their retirement savings in the form of brokerage fees, commissions and administrative cost, Focus risks losing the advantages of an RIA business model and the consumer protections afforded by a fiduciary relationship. SCW
Fact checker

Fact checker

July 26, 2017 — 6:55 PM
Looks like they did a name change as part of the acquisition, which may have screwed up your search for the Form ADV, it's right here, showing $1.9B <a href="https://www.adviserinfo.sec.gov/IAPD/content/ViewForm/crd_iapd_stream_pdf.aspx?ORG_PK=129675" rel="nofollow">https://www.adviserinfo.sec.gov/IAPD/content/ViewForm/crd_iapd_stream_pdf.aspx?ORG_PK=129675</a> Looks like they did a name change to "HANOVER HILLCREST HOLDINGS, LLC" as part of the transaction with Focus.
brooke southall

brooke southall

July 26, 2017 — 7:10 PM
Fact checker, Thank you. Brooke

Related Moves

May 7, 2024 at 5:04 AM

Michael Nathanson's new post as Focus CEO could create an 'apparent conflict' with his duties at Colony Group, which is snapping up billions in Focus RIA assets -- but 'partners' now have one of theirs in the power seat

The CEO of Colony, the $22-billion Boston RIA, is buying $10.4-billion GW & Wade from Focus, making him buyer and seller, as he takes the reins as first permanent Focus CEO since Rudy Adolf.

May 1, 2024 at 3:02 AM

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August 13, 2022 at 12:39 AM

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December 17, 2020 at 3:02 AM

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