Focus Financial Partners In Acquisition Deal With Wirehouse Team That Broke Away Just Last Year

Tuesday, November 08, 2011 21:31
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Focus Financial Partners In Acquisition Deal With Wirehouse Team That Broke Away Just Last Year

Tags: exit planning | managing

Sapient Private Wealth Management, an independent, fee-based Registered Investment Advisor (RIA), is being acquired by Focus Financial Partners. Sapient, which manages more than $500 million, launched as an independent RIA just last year.

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After just seven months in business, Sapient was named ‘“Top Up-and-Coming fee-only firm” by InvestmentNews, accroding to a press release from Focus. "The firm’s leadership team, Greg Erwin, Alan Rexius, and King Martin, previously worked together serving clients at Morgan Stanley Smith Barney and the group has successfully transitioned over 95% of its former clients."

 

Sapient was launched with the support of Focus Connections, a consulting service that helps wirehouse teams establish RIAs. Focus Partners uses this services as an incubator for wirehouse teams that could become candidate for acquisition  by Focus Financial.

 

Founded in 2006, Focus Financial Partners, LLC., has acquired eight independent advisory practices and now manages more than $45 billion and employs 750. It provides wealth management, benefit, and investment consulting services to individuals, families, employers and institutions. 

 

Focus says that when acquires an RIA, principals maintain independence and yet benefit from the synergies, scale, and best practices of a large firm. Owners achieve an eventual buyout. 

 

Any thoughts on Focus Financial or other firms acquiring advisor-run RIAs? 

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