NEW YORK--(BUSINESS WIRE)--Focus Financial Partners, LLC, the largest partnership of independent wealth management firms, announced today that it has facilitated four strategic mergers for two partner firms, Telemus Capital and Buckingham Asset Management, in 2014 thus far. With the completion of these transactions, Focus has advised and supported eight mergers and new hires for its partner firms this year, adding more than $1 billion in additional client assets.
Rajini Kodialam, co-founder and managing director at Focus Financial Partners, said: “Large, mid-size and small RIA firms continue to look for new ways to grow, not just organically but through mergers and the addition of new talent. These recent transactions are examples of the strategic support inherent to our value proposition. With Focus’ capital, relationships and backing, partner firms can stay focused on their clients while strengthening their growth initiatives and business continuity plans, and enhancing their client service offerings.”
Supported by Focus Financial Partners, the following strategic transactions have closed in 2014:
- Telemus Capital, LLC, a $2.2 billion Michigan-based Focus partner firm, completed two transactions in 2014. In January, Telemus acquired Concentric Capital, an independent wealth management firm based in Beverly Hills, California to expand its offering to entertainment and sports industry clients. David Post, CEO of Concentric Capital, joined Telemus as senior advisor and co-chair on its Investment Committee. Mr. Post’s strong relationships within the Los Angeles community will help support Telemus’ growth and business development goals on the West Coast. In February, Telemus named James Housler as partner and senior advisor in its Ann Arbor office. Prior to joining Telemus, Mr. Housler managed approximately $100 million in client assets at J.P. Morgan.
- Buckingham Asset Management, a St. Louis, Missouri-based Focus partner firm that, along with its sister firm, BAM Advisor Services, manages or administers more than $22 billion in client assets, has extended its growth strategy through one merger and one strategic senior hire. In January, Buckingham acquired Irvine, California-based Wealth Management Group (WMG), an independent advisory firm with approximately $100 million in client assets. This marks Buckingham’s seventh transaction over the past three years. In February, Buckingham hired Tim Maurer, who joined the firm to advise clients and provide regular market commentary and industry insights for the BAM Alliance. Mr. Maurer is a nationally recognized advisor, author of The Financial Crossroads and The Ultimate Financial Plan, and a financial blogger for Forbes.com and CNBC.com. In his new role, Mr. Maurer will be responsible for enhancing the vast library of thought leadership materials already produced by the firm’s established team of subject matter experts, which includes Larry Swedroe, Dan Solin, Carl Richards, Jared Kizer and Jim Whiddon. Mr. Maurer was formerly a vice president at Financial Consulate in Maryland and will leverage his 16 years of experience in holistic financial planning in his new role. He will be based in Charleston, South Carolina.
About Telemus Capital
Telemus Capital, LLC is an independent advisory firm with more than $2 billion in client assets focused on providing solutions for investment and asset management, as well as wealth advisory services for high-net-worth individuals. Founded in 2005, Telemus is headquartered in Southfield, MI with offices in Ann Arbor, MI and Beverly Hills, CA. For more information, please visit www.telemuscapital.com.
About Buckingham
Buckingham provides wealth management for individuals, businesses, trusts, not-for-profits and retirement plans. Its investment approach centers on modern portfolio theory implemented through passively managed mutual funds and Buckingham’s proprietary fixed income portfolio design and execution capabilities. Headquartered in St. Louis, Buckingham has offices in Dallas, TX and Irvine, Cupertino and Santa Rosa, CA. In addition to its wealth management arm, Buckingham includes BAM Advisor Services, LLC and BAM Risk Management, LLC. Additional information can be found at http://www.buckinghamadvisor.com.
About Focus Financial Partners
Founded in 2006, Focus Financial Partners, LLC, is the leading international partnership of independent, fiduciary wealth management firms. With approximately $70 billion in total client assets and 27 partners, Focus provides unrivaled access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with wealth management, benefit and investment consulting services. Focus partner firms maintain their entrepreneurial independence, while they benefit from the synergies, scale, economics and best practices of the market leader to achieve their business objectives. Focus was included on Inc. magazine’s 5000 ranking of the nation’s fastest-growing private companies in 2011 and 2010. In 2012, Focus was named a Crain’s New York Business “Fast 50” growth firm in New York City. For more information, please visit www.focusfinancialpartners.com.
Prepared by FTI Consulting on behalf of Focus Financial Partners