Focus Financial Partners said Monday that Gratus Capital Management had joined its partnership with some $800 million in client assets. Also on Monday, Dynasty Financial Partners announced that a group of ex-Wells Fargo Advisors had come on board with about $400 million in assets after forming NovaR Wealth Advisors.
In other recruiting news, Morgan Stanley (MS) recently recruited four advisors from rival firms with a total of $660 million in assets under management.
Gratus, an independent RIA based in Atlanta, began its relationship with Focus on Oct. 1. It also has offices in Palm Beach, Sarasota and Naples, Florida.
"Focus has successfully supported more than 40 mergers for our partner firms, and we plan to do the same for Gratus as they look to acquire new talent to further establish a regional presence in Georgia and Florida," said Rajini Kodialam, co-founder and managing director of Focus, in a statement.
Gratus was founded in 2006 by Hank McLarty, a former Morgan Stanley advisor. The group includes four advisors.
"Our decision to join Focus was influenced by [its] entrepreneurial business model and the depth and quality of the partnership providing capabilities and resources in satisfying our growth objectives," said McLarty, in a press release. "As a partner firm, Focus provides us with the capital and deal expertise to grow through strategic acquisitions, while still allowing us to maintain our boutique service model and focus on our clients."
Dynasty Developments
Dynasty Financial Partners says former-Wells Fargo (WFC) reps Timothy Rodgers and Keith Osborne have launched NovaR Wealth Advisors in Kansas City.
"We are deeply committed to the Kansas City market, and we remain dedicated to providing our clients with objective, transparent advice and investment counsel," said Rodgers, in a press release. "With NovaR Wealth as an independent firm through Dynasty, we now have access to a much wider selection of financial resources."
