Focus Financial Partners has announced that Focus Partner firm, Bridgewater Wealth & Financial Management, a Bethesda, MD-based independent RIA, has added former Maryland Capital Management President and veteran advisor, Stephen Schuler, as Principal and Chief Investment Officer.
At Maryland Capital Management, one of the largest RIAs in the Baltimore region, Mr. Schuler was President and Partner, and headed the Investment Committee for 14 years. Mr. Schuler brings more than US$200 million in client assets to the firm, increasing Bridgewater’s total assets under management to approximately US$500 million.
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Ron Rubin, Managing Principal at Bridgewater, said: "Steve’s experience strengthens our investment management approach and further broadens our capabilities. We are very excited to have him join our team. We are dedicated to growing our business through the addition of other advisors of Steve’s caliber, and we will continue to seek out similar opportunities to provide additional high value services to our clients."
Schuler said:"Bridgewater’s client focus and the emphasis it places on providing holistic and customized solutions made joining the team a natural fit. Through this partnership, we can now expand our client base in the Baltimore and Washington D.C. region, as well as nationally, and they will now have access to a stronger, singular wealth management platform with expanded capabilities, which include financial planning and tax services."
Vamsi Yadlapati, managing director at Focus, said: "Focus has seen strong M&A activity in 2014, having already completed five transactions this year to date, and we expect this momentum to continue. The combination of access to our resources and capital base, including our $550 million credit facility, allows our partners, like Bridgewater, to have a unique advantage in the industry as they look to provide added services to their clients and grow their businesses."
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