Focus Financial Partners, a partnership of wealth management firms, has agreed to purchase Toronto-based-Nexus Investment Management.

In 2015, Focus forayed into Canada with the acquisition of Dorchester Wealth Management.

The deal awaits regulatory nod, with completion anticipated in the first quarter of next year. The transaction value was not divulged.

Focus founder, CEO and chairman Rudy Adolf said: “Nexus is a clear market leader and this transaction extends our track record of acquiring excellent firms, while also expanding our position in the highly attractive Canadian market.

“We believe that Nexus’ success with high net worth clients, together with its comprehensive service offering and strong leadership team, positions the firm to be a platform for future growth. We look forward to deploying our value-added resources to support Nexus’ entrepreneurial vision.”

Founded in 1988, Nexus delivers investment management and wealth planning services. Its clientele includes HNWIs, families, foundations, and endowments.

Nexus president John Stevenson said: “Our partnership with Focus will provide assurance that we can continue to serve our clients with the same independent approach and personal service that they have valued for over 30 years, while at the same time capitalising on the support that Focus offers a firm like ours.”

Firms recently added to the Focus network

Earlier this year, Focus partner firm Vista Wealth Management Group announced the acquisition of Oregon-based Hines & Warner Wealth Management.

At the same time, another Focus partner firm One Charles Private Wealth Services agreed to buy Arizona-based wealth manager TMD & Associates.