History
Adolf said of the company's founding that "We saw tens of thousands of independent firms out there, without good succession planning and handicapped by their small size. They were doing well, but could do better if they had some of the benefits of a big organization behind them without compromising their entrepreneurial independence and spirit."[15]
Having reached a total of 14 partner firms in October 2007,[16] Focus began to expand internationally the following year with the addition of England's Greystone Financial Services Ltd.[17] and the introduction of Focus Independence, a program created to "help elite advisors fully realize their entrepreneurial potential". In 2009, Polaris Venture Partners and Summit Partners provided Focus with $50 million of new capital.[18]
Continuing to grow, Focus closed a $220 million credit facility in January 2012, making its access to credit "unique in the RIA industry."[19] In 2013, the company received an additional $216 million strategic equity investment from Centerbridge and in 2014 expanded to a $550 million credit facility.[20]
Two years after arriving in Canada through Dorchester Wealth Management and the announcement of the US$1 billion credit facility,[21] it arrived in Australia in 2017 through an investment in Financial Professionals,[22][17] allowing Focus to have 40 partner firms.[23] In May, it announced that SCS Financial and its subsidiary, SCS Capital Management, an independent registered investment advisory firm based in Boston, Massachusetts and New York, New York, entered into a definitive agreement to join the Focus partnership, the largest deal in Focus' history.[24]
In April 2017, it announced that an investor group, led by SPC and KKR would acquire a majority stake in the company, valuing Focus at approximately $2 billion.[25] Fifteen months later, when it offered 16 million shares of the firm's Class A common stock.,[26] Focus collected a total of 615.4 million dollars from its IPO - on the first day alone, the stock jumped 14% on its first day of trading on the NASDAQ Stock Market.[4]
In December 2020, RIA Intel reported that Focus planned to create its own RIA firm called Connectus Wealth Advisers.[27]
In September 2021, Focus acquired wealth management and advisory firm, Ancora Holdings Group, in an arrangement that provides Focus with better contact with high-net-worth Midwesterners and provides Ancora growth resources like back-office capabilities and enhanced collaboration with other partner firms. Ancora is the 75th “partner firm” connected to Focus and has retained its name, management and autonomy.[28]
