Focus Financial s Connectus Acquires $3B Connecticut RIA wealthmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wealthmanagement.com Daily Mail and Mail on Sunday newspapers.
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Focus CEO Points to Pent-Up Demand for RIA M&A Despite record M&A activity in the RIA space, Focus CEO Rudy Adolf says the industry is underconsolidating.
Following a record quarter for RIA M&A activity, Focus Financial Partners said year to date it has added three new partner firms, facilitated three mergers for existing partners and merged two RIAs into its new Connectus Wealth Advisers business, the firm’s in-house RIA with a shared services model.
In the first quarter, Focus closed on its deal to acquire Hill Investment Group, a St. Louis–based RIA with $678 million in client assets. In addition, the firm’s Connectus division acquired U.K.-based Watterson Financial Planning.