Articles tagged "Focus Financial Partners"
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RIA roll-ups sharpen knives for next $3 trillion RIA sellers after hitting $1.5 trillion, Cerulli says, propelled by new breed of RIAs likely to embrace the category
RIA serial buyers are projected to hit a collective $4.5 trillion in AUM by 2035 [in 2024 dollars] and become the No.5 'wirehouse' by offering broker-dealer scale and ease with 'better culture, better economics.'
November 23, 2024 at 2:40 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
CD&R mollifies Focus Financial 'FOMO' with non-monetary sweetener to ease the shareholder pain of dumping the company in a sour market
The New York City buyout firm is offering a 'knock-yourself-out' provision to let Focus make a last-ditch effort to find a white knight to 'cover its bases from a liability standpoint.'
February 28, 2023 at 2:54 AM
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
Focus Financial tightens ties with CAIS to boost alts, just don't say the arrangement much resembles CI Financial's deal to buy a stake in GLAS Funds
New York City-based CAIS already administers a $30-billion chunk, it says, of Focus's $350 billion of RIA assets; RIAs get to add third-party funds or go with the CAIS selections
February 16, 2022 at 7:34 PM
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
Oisín's Doubletakes: Clara Shih returns to Salesforce after 11-year hiatus • Focus reloads for M&A with $500 million debt raise, taking its credit north of $1.5 billion • Goldman Sach's 2020 partners list looks less homogenous -- even 'accretive' of women
Former HearSay CEO returns to her mother corporation • Focus Financial Partners debt levels soar 50% on fresh debt issuance • Goldman adds diversity, but snubs Marcus partnerships
February 6, 2021 at 2:39 AM
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
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
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
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
Unseen factors drove the BAM, Loring Ward $50B merger; 18-month warming, light Focus Financial touch, led to reverse merger in spirit and birth, CEOs reveal in exclusive interviews
Buckingham CEO Adam Birenbaum desperately needed a TAMP CEO; Loring CEO Alex Potts needed a succession system for his TAMP clients
October 12, 2018 at 6:12 PM
Greg Fleming dips into RIA gene pool with expected hire of Chris Dupuy to fish for elite wirehouse advisers in drive to reach $100 billion in UHNW assets
But can the CEO of Rockefeller Capital Management, a brand associated with a 19th century robber baron, convince 21st century tech magnates and next-gen middling millionaires to rub shoulders with Rockefellers... and Derek Jeter?
August 28, 2018 at 1:53 AM
Ex-Merrill exec Chris Dupuy makes exit from Focus Financial barely a month after IPO, leaves financial services after 34-year career; you won't believe what he's doing now
Dupuy was charged with expanding Focus Connections, a program designed to help elite wealth management teams transition from wirehouses to independence
August 25, 2018 at 10:06 PM
Focus Financial IPO pays off for KKR and Stone Point, after all, by hitting price mark, plus an investor 'pop.' Now, on to the less glamorous task of paying down debt
Roll-up's day-one shares opened at $35, traded briskly and closed with a tidy 13.79% gain from the $33 base
