Articles tagged "Focus Financial"
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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'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'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 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
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
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
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
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
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
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
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
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
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
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
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
