December 1, 2020
Focus Expands Partner Firm Connectus Wealth Advisers, a Consortium of Client-Centric Financial Advisers
Horan Capital Management to Join Connectus, Establishing Connectus’ Presence in the Mid-Atlantic U.S. Wealth Management Market
NEW YORK, NY – December 1, 2020 – Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive acquisition agreement under which Horan Capital Management, LLC (“Horan”), a registered investment adviser located in Hunt Valley, Maryland, will join Connectus Wealth Advisers (“Connectus”). This transaction is expected to close later this month, subject to customary closing conditions.
Connectus is a Focus partner firm with an innovative model for client-centric financial advisers who deliver comprehensive wealth management advice. Connectus is designed for founders and teams who want to continue managing their client relationships and maintaining their boutique cultures while gaining the operational efficiencies of shared services. As a consortium, Connectus offers integrated technology, investment support and centralized services, including compliance, accounting and talent management. Connectus also provides marketing capabilities to support business expansion through robust lead generation and organic growth programs. Connectus exemplifies the spirit of partnership and collaboration yet celebrates the entrepreneurial mind-set of its advisers.
Through Focus, Connectus advisers gain a strategic growth partner with specialized capabilities. They benefit from Focus’ global scale and extensive network of partner firms, continuity planning expertise and client solutions. Focus is also a source of permanent capital to accelerate growth.
For more information, please visit www.connectuswealth.com.
Horan is a boutique wealth management firm that has built its reputation for investment management expertise through taking a long-term, value investment approach. Horan provides transparent, independent and comprehensive investment management and wealth planning services primarily to high-net-worth individuals and families.
“We are very excited to be joining Connectus,” said John Heinlein, Horan’s CEO and Senior Portfolio Manager. “Becoming part of the Connectus partnership will enable my team and me to focus on our passion for investment management, which is at the core of the value we deliver to our clients. Leveraging Connectus’ shared resources to support our business will enable us to increase our operational efficiency and deepen our investment management and financial planning capabilities. Having Focus as a strategic partner will allow us to expand our client services and accelerate the growth of our business in the near-term, while solving for succession and continuity of client experience in the long-term.”
“We are thrilled to welcome the Horan team to Connectus, bringing us to 15 mergers on behalf of our partner firms and 22 M&A transactions year to date,” said Rudy Adolf, Founder, CEO, and Chairman of Focus. “Horan substantially expands Connectus’ footprint and establishes its presence in the mid-Atlantic wealth management market. Connectus advisers will also benefit from access to Horan’s strong investment management capabilities.
“Connectus complements Focus’ growing partnership and addresses an important strategic need in the independent wealth management market. Focus is at the forefront of the industry in providing innovative business and client solutions. These resources enable our partner firms to meet the growing needs of their clients in an increasingly complex operating environment. The Connectus model is an outstanding example of how we are leveraging our scale and expertise to help wealth management advisers better serve their clients, optimize their efficiency and solve for growth. As a result, we anticipate that Connectus will expand its presence globally.”
About Focus Financial Partners Inc.
Focus Financial Partners Inc. is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.
Cautionary Note Concerning Forward-Looking Statements
This release contains certain forward-looking statements that reflect Focus’ current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus’ operations and business environment, including, without limitation, uncertainty surrounding the current COVID-19 pandemic, which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus’ filings with the Securities and Exchange Commission.
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