Focus Financial Partners Inc. (Nasdaq: FOCS), a partnership of independent, fiduciary wealth management firms, has agreed to purchase Fairway Wealth Management, an Ohio-based registered investment advisor with $1.6 billion under management. Fairway will be the second Focus partner firm based in Ohio.
Co-founders Dan Gaugler and Mark Weiskind established Fairway in 2002 to provide high and ultra-high net worth individuals and families with comprehensive wealth management and family office services.
Weiskind said that he expects to “derive significant benefits” from having Focus as a strategic partner to help “accelerate its growth trajectory and support merger and acquisition activities.” He added that joining Focus “allows us to maintain our operational independence while creating future partnership opportunities for our next generation of talented leaders.”
Fairway is Focus’ fifth partner firm acquisition and fifteen transaction so far this year.
Focus Financial was founded in 1993 and provides financial planning, asset management, and financial education services and has 121 financial advisors in 55 branches across six states.