Focus Financial Partners has joined forces with Indianapolis-based Spectrum Wealth Management to strengthen its reach in the Midwest.

Spectrum is a registered investment adviser (RIA) that caters to several high-net-worth families and professionals across the US but particularly focussed on the Midwest.

The firm offers several investment management, tax planning, trust and family office solutions through its LifeSpectrum Planning platform.

As part of the latest deal, Spectrum will become a new partner firm of Focus, which is an alliance of independent, fiduciary wealth management companies.

The deal, which is subject to customary closing conditions, is anticipated to complete by the first quarter of next year.

Spectrum co-founder and chief investment officer Leslie Thompson said: “Partnering with Focus will provide us with the additional resources to enhance our value proposition while not altering the core principles and culture of the business we have built.

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“In our discussions with Focus over the years we have always been impressed by the consistency of their approach and the quality of partner firms they have invested in.

“When we decided to join with a strategic partner to facilitate the future growth of Spectrum, the transparency of the Focus model and our ability to retain control of our business resonated with us.”

In February this year, Focus entered into an agreement to add Michigan-based RIA Azimuth Capital Management to its partner network.