Focus Financial goes after $100-million wirehouse brokers after hiring five employees suited to the task
The big New York aggregator will put the brokers through a one-year seasoning process before placing them in RIA foster homes
Stephen Winks
Great move by Focus.
There are Focus shops like Dick Smith’s Cap Group in Richmond, VA that provide an extraordinarily high level of counsel that is scalable which every wirehouse broker would find enlightening. Far higher counsel, higher margins, lower cost to the consumer. Put five $200 million brokers in the Cap Group and that is a billion plus. If every Focus office does that it is $40 billion. Brilliant !
SCW
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