Focus Financial to Buy $676 Million RIA
Focus Financial Partners Inc. (NASDAQ: FOCS), a registered investment advisor aggregator, has agreed to purchase Seasons of Advice Wealth Management LLC.
Focus Financial Partners Inc. (NASDAQ: FOCS), a registered investment advisor aggregator, has agreed to purchase Seasons of Advice Wealth Management LLC, a wealth management firm headquartered in New York City that manages nearly $676 million in client assets. The transaction is expected to close in the fourth quarter of 2020.
Seasons of Advice was founded by Charles Hamowy, Christopher Conigliaro and Matthew Woolf in 2017 and employs a full-service model that offers financial planning, investment management and insurance-related services to high net worth clients primarily in the New York City area. The firm views environmental, social and governance investing as a critical element of its investment management process.
“ESG investing has also been an important part of our approach, as we view ESG as a critical component of the growth of our industry, and believe that investors can ‘do well by doing good’ by seeking attractive returns by investing in companies that are sustainable and responsible from an ESG perspective,” said Charles Hamowy, chief executive officer of Seasons of Advice.
Focus recently announced plans to buy InterOcean, a $2.5 billion Chicago-based RIA.
Focus Financial Partners is backed by private equity firms KKR and Stone Point Capital and has approximately 65 partner firms that oversee $200 billion in client assets.
