Focus Financial Partners

Focus Financial Partners, Inc. is a holding company, which engages in the provision of wealth management services. It also offers practices, resources, and continuity planning for its partner firms who serve individuals, families, employers, and institutions with comprehensive wealth management services. The company was founded by Leonard R. Chang, Ruediger Adolf and Rajini Sundar Kodialam on July 29, 2015 and is headquartered in New York, NY.

Earnings data Q2 2024

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Focus Financial Partners is a partnership of independent, fiduciary wealth management firms, they provide access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers, and institutions with comprehensive wealth management services. It uses its M&A expertise and capital to assist partner firms in identifying attractive expansion prospects of its own and has continued to expand its suite of value-added services to include technology, talent acquisition, business development and marketing, operations, and regulatory advice.

Focus Financial Partners Inc. (FOCS) delivered earnings and revenue surprises of 2.08% and 2.77%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Focus Financial Partners Inc. (FOCS) Surpasses Q2 Earnings and Revenue Estimates

Strong Growth and Financial Performance with Record M&A Momentum NEW YORK, NY / ACCESSWIRE / August 5, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus Inc.", "Focus", the "Company", "we", "us" or "our"), a leading partnership of independent, fiduciary wealth management firms, today reported results for its second quarter ended June 30, 2021. Second Quarter 2021 Highlights Total revenues of $425.4 million, 35.8% year over year growth Organic revenue growth(1) rate of 28.8% year over year GAAP net income of $5.2 million GAAP basic and diluted net income per share attributable to common shareholders of $0.04 Adjusted Net Income Excluding Tax Adjustments(2) of $67.8 million and Tax Adjustments of $11.0 million Adjusted Net Income Excluding Tax Adjustments Per Share(2) of $0.84 and Tax Adjustments Per Share(2) of $0.14 Net Leverage Ratio(3) of 3.54x Net cash provided by operating activities for the trailing 4-quarters ended June 30, 2021 of $298.9 million, 46.6% higher than the prior year period LTM Cash Flow Available for Capital Allocation(2) for the trailing 4-quarters ended June 30, 2021 of $266.0 million, 38.2% higher than the prior year period Closed secondary offering of 7.4 million shares, including 7.1 million shares sold by KKR who fully exited their remaining position in Focus Closed new 7-year term loan tranche on July 1, 2021, raising $800 million of debt capital to finance record M&A pipeline Please see footnote 2 under "How We Evaluate Our Business" later in this press release.

Focus Financial Partners Reports Second Quarter Results

NEW YORK, NY / ACCESSWIRE / July 26, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of fiduciary wealth management firms, announced today that Travis Pitt ("Pitt") has joined Melbourne-based Focus partner firm Escala Partners Pty Ltd ("Escala"). Travis Pitt has over twenty years of industry experience as a tenured financial adviser providing customized investment and wealth management solutions to ultra-high net worth individuals and families.

Travis Pitt Joins Focus Partner Firm Escala Partners, Expanding Escala's Investment Advisory Team and Increasing its Presence in the Melbourne and Syndey Wealth Markets

GAVIN Hockey Wealth Specialists to Join Connectus, Establishing Connectus' Presence in the Canadian Wealth Management and North American Athlete Markets NEW YORK, NY / ACCESSWIRE / July 23, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which GAVIN Hockey Wealth Specialists ("GAVIN"), a registered portfolio manager and investment adviser based in Toronto, will join Connectus Wealth Advisers ("Connectus"). This transaction is expected to close in the third quarter of 2021, subject to customary closing conditions.

Focus Partner Firm Connectus Wealth Advisers Expands Into Canada

NEW YORK, NY / ACCESSWIRE / July 22, 2021 / Focus Financial Partners Inc. (Nasdaq:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, today announced that it will report its results for the second quarter ended June 30, 2021 on the morning of Thursday, August 5, 2021. Focus will simultaneously post a slide presentation with respect to these results under Events in the Investor Relations section of its website www.focusfinancialpartners.com.

Focus Financial Partners to Release 2021 Second Quarter Results on August 5

FOCS screens as expensive, but further digging reveals the antithesis to be true. It offers a strong value proposition with significant and defensible differentiators.

Focus Financial Partners: Undervalued Growth Stock Hidden In Plain Sight

NEW YORK, NY / ACCESSWIRE / July 18, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of fiduciary wealth management firms, announced today that five advisers with Melbourne-based Escala Partners Limited ("Escala"), a Focus partner firm, and one adviser with Sydney-based Brady & Associates Financial Advisers ("Brady & Associates"), a member of Connectus Wealth Advisers, also a Focus partner firm, were named to the 2021 list of Australia's Top 100 Financial Advisers. The list is based on an extensive, national survey conducted by The Australian in collaboration with Barron's and is a guide to the country's leading wealth management advisers.

Six Advisers With Focus Firms Named to the 2021 List of Australia's Top 100 Financial Advisers

Merchants Bancorp

Signature Bank

Charles Schwab

Synovus Financial

Visa

Willis Towers

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7 Best Financial Stocks for the Rest of 2021

NEW YORK, NY / ACCESSWIRE / July 1, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that Sonora Investment Management, LLC ("Sonora"), an Arizona-based registered investment adviser (RIA) with offices in Phoenix and Tucson, has entered into an agreement to join the Focus partnership. The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions.

Sonora Investment Management to Join Focus as a New Partner Firm, Expanding Focus' Presence in the Growing Southwest Wealth Market

NEW YORK, NY / ACCESSWIRE / July 1, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Collins Investment Group ("Collins Investment Group" or "CIG"), a wealth management practice in Bethesda, Maryland, will join Rockville, Maryland-based Focus partner firm XML Financial Group ("XML"). The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions.

Collins Investment Group to Join Focus Partner Firm XML Financial Group, Expanding XML's Presence in the Washington DC Metro-Area

NEW YORK, NY / ACCESSWIRE / July 1, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of fiduciary wealth management firms, announced today that it has closed the transaction to add a 7-year, $800 million tranche to its existing First Lien Term Loan ("Term Loan"). Of this amount, $650 million was drawn today and the remaining $150 million is available on a six-month, delayed draw basis.

Focus Financial Partners Closes New 7-Year Term Loan Tranche, Raising $800 Million in a Heavily Oversubscribed Transaction With a Substantial Increase in Participation by New Lenders

NEW YORK, NY / ACCESSWIRE / July 1, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which New Providence Asset Management L.P. ("New Providence"), a registered investment adviser based in New York, NY, will join Focus partner firm The Colony Group, LLC ("Colony").

New Providence Asset Management to Join Focus Partner Firm The Colony Group, Further Enhancing Colony's Institutional Investment Team

NEW YORK, NY / ACCESSWIRE / June 30, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it will hold its second Investor Day for the investment community on Thursday, December 9, 2021, beginning at approximately 8:00 a.m. Eastern Time.

Focus Financial Partners Announces Second Investor Day

NEW YORK, NY / ACCESSWIRE / June 28, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of fiduciary wealth management firms, announced today that Connectus Wealth Advisers ("Connectus") has entered into a definitive agreement under which the George Ferizis Group ("Ferizis") will join Connectus. This transaction is expected to close in the third quarter of 2021, subject to customary closing conditions.

George Ferizis Group to Join Focus Partner Connectus Wealth Advisors, Further Accelerating Connectus' International Growth and Expansion in Australia

NEW YORK, NY / ACCESSWIRE / June 28, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that Badgley Phelps Wealth Managers ("Badgley Phelps"), a registered investment adviser (RIA) headquartered in Seattle, Washington, has entered into an agreement to join the Focus partnership. The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions.

Badgley Phelps Wealth Managers, a Premier Independent Wealth Manager in the Pacific Northwest, to Join Focus as a Partner Firm

NEW YORK, NY / ACCESSWIRE / June 21, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus") announced today the pricing of the previously announced underwritten secondary offering of 7,417,929 shares of its Class A common stock. This amount includes 7,144,244 shares offered by certain selling stockholders of Focus affiliated with Kohlberg Kravis Roberts & Co. L.P.

Focus Financial Partners Prices Secondary Offering of Class A Common Stock; KKR Exits Remaining Position in Focus

NEW YORK, NY / ACCESSWIRE / June 21, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus") announced today that it has launched an underwritten secondary offering of 7,419,939 shares of its Class A common stock. This amount consists of 7,144,244 shares being offered by certain selling stockholders of Focus affiliated with Kohlberg Kravis Roberts & Co. L.P.

Focus Financial Partners Announces Launch of Secondary Offering of Class A Common Stock

Reaffirms 3.5x to 4.5x Net Leverage Ratio Target NEW YORK, NY / ACCESSWIRE / June 17, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it is launching a transaction to add a 7-year $800 million tranche to its First Lien Term Loan ("Term Loan"), inclusive of a $400 million six-month delayed draw feature. Focus expects to close this transaction in early July and use the proceeds to pre-fund the transactions it anticipates closing over the next several quarters.

Focus Financial Partners Announces Launch of New 7-Year Term Loan Tranche in Anticipation of Record Acquisition Volume

NEW YORK, NY / ACCESSWIRE / June 7, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that Rudy Adolf, Founder, CEO and Chairman, and Jim Shanahan, Chief Financial Officer, are scheduled to present at the Morgan Stanley 2021 US Financials, Payments & CRE Conference on Monday, June 14, 2021 beginning at approximately 8:45 a.m. ET. Their remarks will include comments on Focus' business strategy, financial performance and outlook.

Focus Financial Partners to Present at the Morgan Stanley 2021 US Financials, Payments & CRE Conference

NEW YORK, NY / ACCESSWIRE / June 1, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that ARS Wealth Advisors, LLC ("ARS Wealth"), an integrated wealth management firm headquartered in St. Petersburg, Florida, has entered into an agreement to join the Focus partnership. The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions.

ARS Wealth to Join Focus as a Partner Firm, Establishing Focus' Presence in the Florida High Net Worth Market and Broadening Its National Scale

NEW YORK, NY / ACCESSWIRE / May 10, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Integer Wealth Advisors Group, LLC ("Integer") will join Focus partner firm JFS Wealth Advisors, LLC ("JFS"), subject to customary closing conditions. Founded in 2005 by Tom Foglia and Sam Paglioni, Integer is an integrated wealth management firm headquartered in the greater Philadelphia, Pennsylvania area with an additional presence in the greater Atlanta, Georgia area.

Integer Wealth Advisors Group To Join Focus Partner Firm JFS Wealth Advisors Transaction will Increase JFS' Scale and Enhance Its East Coast Presence

Focus Financial Partners Inc. (FOCS) CEO Rudy Adolf on Q1 2021 Results - Earnings Call Transcript

Focus Financial Partners Inc. (FOCS) delivered earnings and revenue surprises of 8.14% and 3.07%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

Focus Financial Partners Inc. (FOCS) Tops Q1 Earnings and Revenue Estimates

Performance Exceeds Expectations, Reinforcing Strong Momentum NEW YORK, NY / ACCESSWIRE / May 6, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus Inc.", "Focus", the "Company", "we", "us" or "our"), a leading partnership of independent, fiduciary wealth management firms, today reported results for its first quarter ended March 31, 2021. First Quarter 2021 Highlights Total revenues of $394.2 million, 16.9% growth year over year Organic revenue growth(1) rate of 12.2% year over year GAAP net income of $2.5 million GAAP basic and diluted net income per share attributable to common shareholders of $0.00 on a rounded basis Adjusted Net Income Excluding Tax Adjustments(2) of $63.4 million and Tax Adjustments of $10.5 million Adjusted Net Income Excluding Tax Adjustments Per Share(2) of $0.80 and Tax Adjustments Per Share(2) of $0.13 Net Leverage Ratio(3) of 3.79x Net cash provided by operating activities for the trailing 4-quarters ended March 31, 2021 of $242.1 million, 32.8% higher than the prior year period LTM Cash Flow Available for Capital Allocation(2) for the trailing 4-quarters ended March 31, 2021 of $219.9 million, 51.8% higher than the prior year period Raised $500 million under First Lien Term Loan at LIBOR + 200 and repaid borrowings under First Lien Revolver Formed a joint venture with Orion Advisor Solutions that will add cash and credit solutions and related services developed by Focus Client Solutions to Orion's WealthTech platform Launched Beryllus Capital, a global multi-family office, in a joint venture with the Hinduja Group (1) Please see footnote 2 under "How We Evaluate Our Business" later in this press release.

Focus Financial Partners Reports First Quarter Results

NEW YORK, NY / ACCESSWIRE / April 30, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Carolina Capital Consulting, Inc. ("Carolina Capital"), a registered investment adviser located in Charlotte, North Carolina, will join Focus partner firm Buckingham Strategic Wealth, LLC ("Buckingham" or "Buckingham Strategic Wealth"). This transaction is expected to close in the third quarter of 2021, subject to customary closing conditions.

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