Focus Financial Partners said Wednesday that it is adding a partner group in the Chicago area and that two existing partners have added advisors. Relative Value Partners comes on board near the Windy City with about $1 billion in client assets and seven financial professionals.
"Focus has seen strong deal momentum in 2015 as high-performing, entrepreneurial firms seek to enhance, grow and build continuity into their businesses," said founder and CEO Rudy Adolf, in a statement. "Our M&A expertise and value-add programs combined with our almost unparalleled access to capital lends us a unique advantage in attracting high-caliber firms such as these."
Relative Value Partners joins Focus in Northbrook, Illinois. According to Focus, this gives the partnership three RIAs in the metropolitan area, following previously completed transactions with Vestor Capital and Strategic Wealth Partners.
RVP serves high-net-worth clients and was founded in 2004 by Maury Fertig and Bob Huffman, who previously held senior positions at Citigroup/Salomon Brothers; each has more than 20 years of industry experience.
In addition, Quadrant Private Wealth of Bethlehem, Pennsylvania, a group with $500 million in assets that was formed in May 2014 by a team of ex-Merrill Lynch advisors, has completed its transition to Focus.
Meanwhile, JFS Wealth Advisors of Hermitage, Pennsylvania, added Thomas Paulus to its practice, and Buckingham Asset Management of St. Louis added Houston-based Posey Capital Management, which includes advisors Thomas Posey and Jeffrey Eschman, as well as $200 million in client assets.
"Buckingham has completed five mergers and strategic transactions in 2015, following the most recent addition of Classic Capital, a Short Hills, NJ-based RIA, in April," Focus explained in a press release. Plus, in the past 90 days, "Focus has brought on four new partner firms and executed multiple mergers."
Focus Financial Partners adds that it has yearly revenue (or fees and commissions) of about $325 million.
