Focus Financial Partners Inc. is a partnership of independent fiduciary wealth management firms, providing them with operational, strategic, and marketing support. The company is headquartered in New York City, New York and was founded in 2006. Focus Financial Partners was established to provide an alternative to the traditional Wall Street model of big brokerage firms. The company's mission is to empower its partner firms to deliver comprehensive wealth management services to their clients.
Focus Financial Partners supports partner firms in their growth through acquisitions and mergers with other wealth management firms. The company provides funding, human capital, and technology infrastructure to support these transactions. By leveraging the company's resources, partner firms are able to accelerate their growth and expand their geographic footprint. Focus Financial Partners has over 100 partner firms worldwide, with more than $300 billion in assets under management.
Focus Financial Partners went public on July 26, 2018, trading on the Nasdaq under the ticker symbol "FOCS." The company's IPO raised approximately $585 million, with shares priced at $33 each. The IPO was the largest ever for a wealth management company at the time.
As of 2021, Focus Financial Partners continues to pursue its growth strategy, expanding its network of partner firms globally. The company also provides services to independent registered investment advisors and family offices. In addition, Focus Financial Partners has made strategic acquisitions, such as its purchase of MEDIQ Financial Services in 2019, a financial advisory firm specializing in healthcare professionals.
Focus Financial Partners has been recognized for its industry leadership and innovation, receiving awards such as the 2018 Wealth Management Industry Award for Outstanding Business Support Services, the 2019 WealthManagement.com Industry Award for Industry Disruptor, and the 2020 WealthManagement.com Industry Award for Outstanding Business Support Services. The company's success is attributed to its ability to provide independent wealth management firms with the resources they need to deliver comprehensive financial services while maintaining their autonomy and unique identities.