Focus Financial Partners
Strong 3rd quarter for RIA M&APosted by RJ and Makay on Oct 31, 2011 |
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Several large registered investment advisory (RIA) deals were transacted in the 3rd quarter, with private equity players returning to the marketplace in three significant deals, according to a new Pershing LLC report. Mark Tibergien, chief executive of Pershing Advisor Solutions, believes that private-equity funds will continue to have an important role in the marketplace.
Focus Financial takes $1.3 billion stake in The Colony GroupPosted by RJ and Makay on Sep 21, 2011 |
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Focus Financial Partners said Tuesday that it has added RIA firm The Colony Group, with its $1.3 billion in assets, to its partnership. The deal, which becomes effective on October 1, marks the fourth such transaction this year for Focus Financial and 19th since the firm’s inception. It will bring Focus’ assets under management up to $45 billion.
2010: still a good year for breakaway recruiting for custodiansPosted by RJ and Makay on Jan 28, 2011 |
The four largest custodians — Fidelity, Pershing, Schwab, and TD Ameritrade — lured more than 400 advisors or advisor teams with about $27 billion in assets from wirehouses in 2010. These advisors, known as "breakaway brokers" left their firms to establish independent practices with Fidelity, Pershing, Schwab, or TD.
As respectable as 2010's breakaway results were, however, they're actually slightly lower than the record numbers of 2009 and may indicate a gradual return to pre-crisis levels. Large independent firms like United Capital Financial Partners, HighTower Advisors, and Focus Financial Partners are the main facilitators of advisor breakaways to the independent space.
Epicurus (Greek philosopher, BC 341-270)
