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Articles tagged "Rudy Adolf"


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Rudy Adolf: We see a softening of multiples.

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

Rudy Adolf: We certainly avoided so many of the -- I think I called them 'drunken sailor transactions'.

As Focus Financial shares languish, Rudy Adolf plans $200 million buyback and rebuffs questions he's overpaying for RIAs--because he avoids 'drunken sailor transactions'

The New York City rollup buys at private prices then sells at public valuations, but now the CEO's buying at public share prices in some 'privately negotiated transactions' hoping for a bounce

May 13, 2022 at 2:31 AM

Rudy Adolf: Reality is – actually the number is about 1,000 firms in the industry based on several research groups are over $1 billion.

Focus Financial struggles to move 'needle' but reframes opportunity from 500 $1-billion RIAs to 1,000 practices

The RIA rollup's decelerating growth rate and limited acquisition capital are among an analyst's concerns

May 7, 2021 at 1:54 AM

Rudy Adolf and fellow execs and directors will not cash out with this offering.

Focus Financial shares drop after hours as secondary offering gets filed that mostly pays off KKR and Stone Point without generating M&A capital

The New York rollup's shares have risen with RIA valuations, giving the pre-IPO investors an exit window

February 25, 2021 at 11:00 PM

Rudy Adolf:  We kind of tried to stay away from the institutional business intentionally.

Focus Financial buys B2B outsourcer -- a business model shift that stretches its M&A dollar but also introduces identity issues

The New York rollup bought $9 billion of AUM, but CornerStone Partners is still an OCIO for non-profit institutions with a set of challenges unique to its niche.

November 13, 2020 at 4:29 AM

Rudy Adolf: Quite frankly, discipline is our middle name, and this has made us the largest player in this industry.

Focus Financial CEO pumps brakes hard on M&A market, waiting for a return to 'normal' -- and buyers of Focus stock bid up price as debt ratio improves

Rudy Adolf sees RIA-seller supply catching up with serial-buyer demand soon enough and that his roll-up's discipline will pay dividends and restore its market leadership

August 25, 2020 at 3:39 AM

Jim Shanahan: As we begin to de-lever in 2020, with the goal of operating within a range of 3.5x to 4.5x, we will balance growth with managing our capital resources.

Focus Financial CFO admits firm needs to 'de-lever' and assures analyst $14-million splurge for posh new offices won't soon repeat

Jim Shanahan say his New York-based roll-up will attempt to get to 3.5 debt-to-equity ratio and critics wonder whether that is signal of weak pipeline of deals

November 13, 2019 at 3:30 AM

Rudy Adolf: We don't have current imminent plans to issue equity.

Focus Financial files a shelf registration as debt swells above critical '4X' level then its shares dropped to new low in after-hours

Focus CEO all but ruled out a secondary offering on Aug. 8 in response to a Goldman Sachs analyst who asked about leverage, then asked, again.

September 2, 2019 at 4:46 PM

Matt Crow: RIAs cannot sustain those valuations, so either the pricing is overstated, the pro forma adjustments are substantial, the expected growth is steep, or these really are the end times.

Focus Financial IPO marks an RIA milestone one year on, but year two hinges on how Rudy Adolf handles the millstone around his neck--mounting debt

The rollup CEO needs to do deals to grow and debt to do deals; he also needs a window to de-leverage, but it's nowhere in sight

August 2, 2019 at 7:50 PM

Bill Jones says the sale to Focus allows it to get better without sacrificing independence.

Focus Financial deal for white-shoe New York City RIA adds $7.7-billion of AUM, but Focus stock remains mired in the doldrums on Wall Street

The New York roll-up makes partner of Williams, Jones & Associates, a firm of 38 employees including 14 advisors

June 4, 2019 at 4:15 AM

Raj Udeshi: Here's a seven-figure deal I just beat Blackrock on.

HiddenLevers' Raj Udeshi takes victory lap after nabbing Focus Financial account: 'We dropped a bomb in BlackRock's backyard;' But it's just a battle not the war, analysts say

The founder's analytics software firm had to beat out Aladdin but the reward is a doubling of assets and $1-million-plus contract

March 27, 2019 at 9:41 PM

Matthew Crow: If Focus had IPO’d at $18 and drifted up over the first few months to the mid-20s, it would be viewed today as a success.

In wake of Goldman Sachs presentation, Focus Financial shares hit new lows, analyst compares RIA rollup to GM's ill-fated Hummer H-1

The roll-up's share price closed at $25.51, a steep drop from the $37 where it traded on day one -- and even below the targeted $33. But is it really the ungainly, inefficient, over-priced SUV or more the Ferrari CEO Rudy Adolf promised but thrashed by an unruly market?

December 20, 2018 at 9:54 PM

Kevin Gray: We’ve had many clients reach out to us and now we can call them.

Lisa's Bits: Goldman Sachs's $35-billion RIA loses nine more advisors who form Veracity Capital; Mariner makes biggest-ever RIA deal of $2 billion; Focus stock is steady in rocky market and gets 'F' rating from Schwab

In 2018 Goldman Sachs has seen more than a dozen advisors jump ship over to form RIAs; Bicknell rejuvenated RIA shows off spring-loaded M&A; Focus Finacial shares take on water but weather storm

November 19, 2018 at 9:19 PM

Adam Birenbaum: It would be impossible to imagine us making this happen were it not for our colleagues at Focus Financial Partners.

Focus Financial buys $17 billion DFA TAMP for $235 million through its $3.6 billion DFA TAMP

The RIA roll-up adds Loring Ward to BAM with 50% cash down and the rest with Focus common shares

September 28, 2018 at 2:44 AM

Rudy Adolf: Pipelines are robust for organic and inorganic growth.

Focus Financial shares soar after Rudy Adolf pumps the pipeline and stiff-arms analyst who presses him on a Focus sore point--organic growth, or lack thereof

The shares are up more than 30% since Aug. 20; the CEO boasted on the quarterly call that the IPO itself sent the M&A pipeline spiraling higher

September 6, 2018 at 12:33 AM

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