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Articles tagged "Focus Financial"


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Manish Khatta: It's fair that ETFs start paying their way for access to assets.

Focus triggers Moody's by fighting debt with debt • Fidelity's new ETF fees work magic • Schwab opens Milwaukee 'flagship' • RIAs may lose billions to 'widowgedden,' says Krawcheck

Focus leverage ratio rose again; Moody's dings • Fidelity shores-up ETF marketplace revenues • Schwab backs brick-and-mortar • Krawcheck claim puts $53 trillion in question

June 5, 2024 at 2:21 AM

Adam Birenbaum: I believe with this we are a very attractive solution for other Focus Partner firms.

Adam Birenbaum's calls 'Colony' deal -- to create $100-billion super-RIA -- a 'mandate,' but it's also likely a 'prelude' to larger strategic objective, M&A expert says

The 46-year-old CEO of Buckingham Wealth's 'long game' approach keeps paying dividends; it comes down to his approach to relationships

May 7, 2024 at 5:04 AM

Michael Nathanson: 'Focus will continue to facilitate the accelerated evolution of firms that choose such a path.'

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

Focus Financial could get rolled down if Clayton, Dubilier & Rice takes over.

Focus Financial is pushing shareholders to take a take-it-or-leave-it private equity offer worth about $6 billion -- including $2 billion debt assumption -- despite a break-up value near $10 billion

Clayton, Dubilier & Rice's $53-a-share, or $4.1 billion, offer is predatory but likely to be accepted, in the sense that analysts imagine the rollup could be sold off in parts; Buckingham, alone, may fetch $2 billion.

February 3, 2023 at 3:03 AM

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

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 at 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 at 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 at 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 at 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 at 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 at 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 at 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 at 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 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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