Focus Financial pivots to breakaway strategy with Fidelity recruit
Mark Dupont will put a new spin on the big aggregator but entrepreneurial bent remains
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.
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With RIA valuations ticking down and successions ticking up, Focus Financial deep sixes 'drunken sailor' pause, forgoes buyback plan and adds a CEO
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August 13, 2022 at 12:39 AM
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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
See more related moves
Focus Financial Partners, LLC
Consolidator/Roll-up Firm
Top Executive: Rudy Adolf
