Louis Diamond Quoted – By Brooke Southall, RIABiz – Focus Financial filed the paperwork to complete an initial public offering. The New York-based roll-up, which recorded revenues of $663 million in 2017 filed an S-1 form with the U.S. Securities and Exchange Commission and the Nasdaq symbol will be FOCS. No pricing information was given.
By Sean Allocca, Financial Planning – Focus Financial inked another big-figure deal after a blockbuster 2017 that netted more than two dozen RIAs, according to the firm. The Cornerstone Wealth Group, formerly with LPL Financial, advises on $1.3 billion in client assets and manages $800 million, according to CEO and managing partner Craig Rubrecht.
Mindy Diamond Quoted – By Brooke Southall, RIABiz – Focus Financial Partners LLC is engaged in legal and regulatory preparations to file an initial public offering — and along with that action come plenty of questions about its timing and whether anyone other than a vulture investor is in line for a significant payday.
Mindy Diamond Quoted – By Lisa Shidler, RIABiz – If you’re trying to build a giant RIA to $100 billion in assets, you won’t get there if you give up easily. Focus Financial founder and chief executive Rudy Adolf, for instance, spent seven years trying to convince Colleen Lindstrom, CEO of Merriman Inc., to sell her $1.5 billion firm to his company.
