View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
January 2, 2019

Focus Financial to buy two wealth management firms

Focus Financial Partners has agreed to acquire two US-based firms- Aurora Financial Advisors and WG&S.

Aurora is a Massachusetts-based wealth manager set up in 2002 by Susan Miller. It specialises in dispute resolution related to divorce, estate administration, and intra-family disagreements.

The business will now become part of The Colony Group, which itself is a part of Focus.

Both Colony and Aurora provide wealth management and tax planning services for families and businesses.

The deal is said to offer Aurora dedicated management, compliance, marketing as well as operations teams.

Established by Eric Wasserman, Howard Grossman and Michael Sloan, WG&S is a multi-family office and business management firm. It tends to UHNWIs and families and has branches in Northern and Southern California, Delaware, and Texas.

The California-based firm will now join Focus unit Gelfand, Rennert & Feldman. Both the firms focus on serving clients in the entertainment industry.

Focus founder, CEO and chairman Rudy Adolf said: “Supporting our partner firms’ entrepreneurial visions and devotion to their clients is our mission at Focus. Providing access to capital and operational expertise is key in facilitating mergers and acquisitions,” said

“Through M&A, clients always benefit from a broader range of services and deeper bench strength.”

The deals, whose financial terms were not disclosed, are expected to be wrapped up in the first half of this year.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International