Focus Financial pivots to breakaway strategy with Fidelity recruit
Mark Dupont will put a new spin on the big aggregator but entrepreneurial bent remains
Related Moves
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
Dan Seivert's ripping success in RIA M&A deals has odd side effect of having some sidearm staff leave for new vistas
Carolyn Armitage and Mark Bruno left to mutual benefit, while Echelon Partners roars on, feeding the beast of deal-crazed RIA buyers and sellers.
July 20, 2021 at 1:17 AM
Elliot S. Weissbluth, Hightower Advisors mastermind, cashes out and vacates chairman role as Pershing's ex-CEO Lisa Dolly takes a board seat
The Chicago rollup's founder got paid better by doing the second-stage exit and the new cast on the Board also includes Bob Oros ascending to chair and Darrell Horn of Green Square Wealth Management joining
February 19, 2021 at 8:58 PM
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
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Focus Financial Partners, LLC
Consolidator/Roll-up Firm
Top Executive: Rudy Adolf
Dan Jenkins
Makes sense that Focus Financial would devote more resources to investing in breakaways. It’s far cheaper and since they apparently didn’t do any due diligence when they bought Geller Group in 2006, has less liability (plus less leikley to blow up).
That Geller Group purchase was a debacle. $30 million (I heard) for a producing TPA that had to merge with another Focus compnay because their founders are under DOL criminal investigation for fake audits and hidden fees.
Hopefully, Rudy learned his lesson.
