US-based Focus Financial Partners has unveiled plans to become the largest wealth management adviser company in the UK, as part of its ambition to create the first global network of independent wealth management firms.
The group acquired Manchester and London based Greystone Financial Services in April 2008 and further acquisitions are imminent, said Focus chief executive Rudy Adolf. Since Focus was launched in 2006, it has acquired 14 US wealth management firms and it now has some $30bn of assets under advice and 700 individuals under its umbrella, making the company the leading fiduciary wealth manager in the States, according to Adolf. The target market for Focus is high quality wealth management firms dealing with mass affluent to high net worth clients. Adolf stressed that, once acquired, firms c...
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