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Articles tagged "Focus Financial"


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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 – 12:39 AM

Rajini Kodialam: Think of Connectus as a firm with several arms that each do business under their own names.

Focus Financial launches house-brand RIA and its shares spike past $45 on scale play, but will the 70 partner firms accept the change?

The New York roll-up introduces 'Connectus' as an 'evolution,' but industry observers see a real pivot, hence a gamble that imperils existing bets on autonomy's animal force

December 23, 2020 – 3:38 AM

David Daniel [on left] We’re out of space.

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 – 3:02 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 – 3:39 AM

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 – 7:50 PM

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 – 9:41 PM

Adam Birenbaum (left) is already rolling up Alex Pott's longtime TAMP clientele in the months following their merger.

Rudy Adolf's Buckingham meal ticket looks golden after the $35-billion RIA/TAMP absorbs Dan Goldie's $1 billion Loring Ward book and margins leap from 25 basis points to more like 70

The New York-based roll-up's gain is offshoot of Loring Ward deal where Goldie is the biggest client but was too big to buy until Focus capital could be tapped

March 9, 2019 – 3:28 AM

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 – 9:54 PM

Louis Diamond: Cetera [isn't] unstable, but new ownership is a time for advisers to reevaluate.

Oisin's Bits: Focus Financial shares crater after Rudy Adolf's answers to analysts fail to mollify; RIAs get negotiating boost as T.Rowe 'proves' plans boost profits, but is it a fallacy?; and Genstar's tenure as Cetera' owner has started with a bloody nose, despite more than half a billion inflows

Roll-up model meets Wall Street analysts; T.Rowe Price’s latest report posits that 401(k) plans are a rocket for corporate profitability; and private equity firm Genstar Capital's deep pockets have so far failed to turn the tide in Cetera's bitter rivalry with LPL

November 13, 2018 – 10:30 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 – 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 – 12:33 AM

Focus co-founders Lenny Chang, Rajini Kodialam and Rudy Adolf have gotten Focus Financial to the brink of an IPO.

In another go-go sign, Focus Financial moves up IPO trade date to as early as Monday

After New York roll-up CEO Rudy Adolf completes bang-up road show that emboldened share-price leap, time is of the essence

July 20, 2018 – 9:58 PM

Rudy Adolf is walking the tightrope between investment bankers, advisors and KKR -- with man's best friend.

Focus Financial IPO is on at $39 per share as KKR pushes giant share premium, with an eye on raking off an extra $532 million

The New York-based roll-up's CEO Rudy Adolf wraps up his road show fraught with perils for slapping a higher -- much higher price -- on shares

July 16, 2018 – 8:35 PM

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.

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

July 24, 2017 – 11:48 PM

Stone Point CEO Chuck Davis has insurer DNA having served on the board of The Progressive Corp.

Focus Financial's 'extraordinary' purchase of $16B-AUM SCS Capital and what Stone Point -- both buyer and seller in the deal -- may do to juice its investment

With Stone Point CEO Charles Davis now calling the shots, the RIA roll-up tacks to UHNW-directed RIAs, perhaps for their positioning in selling insurance

May 17, 2017 – 9:06 PM

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