A new Focus? Why the RIA aggregator is going global
Louis Diamond Quoted
By Ian Wenik
If you asked Rudy Adolf, chief executive of RIA roll-up Focus Financial Partners, he’d say that his firm can just go on and on making acquisitions. ‘Merger opportunity is almost infinite,’ Adolf said in March at the Raymond James Institutional Investors conference.
Louis Diamond, an executive vice president at advisor recruiting firm Diamond Consultants, is in Adolf’s corner. Expanding internationally is the next logical step, he explained.
‘I think it’s brilliant,’ Diamond said. ‘From what I understand, the drivers and motivators in the wealth management industry in Canada and Australia are somewhat similar to here. Those firms are facing similar pressures… Focus is just transferring the competencies that it has learned here. They’re other markets, but they’re not so different that Focus is going to be completely in the dark.’