Focus Financial Partners (FOCS) News
Market Cap: $3.50B
Avg Volume: 731.59K
Industry: Asset Management
Sector: Financial Services
InterOcean Capital to Join The Colony Group
NEW YORK--(BUSINESS WIRE)--Focus Financial Partners Inc. (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which its partner firm InterOcean Capital Group, LLC (“InterOcean”), headquartered in Nashville, TN, will formally join Focus firm The Colony Group, LLC (“Colony”). This transaction is expected to close in the second quarter of 2024, subject to customary closing conditions. InterOcean pr.
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FOCUS FINANCIAL SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Focus Financial Partners Inc. - FOCS
NEW ORLEANS , Feb. 23, 2024 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until March 4, 2024 to file lead plaintiff applications in a securities class action lawsuit against Focus Financial Partners Inc. (NasdaqGS: FOCS), if they (1) sold shares of Focus Financial common stock from February 27, 2023 through the closing of the "take-private" acquisition of Focus Financial by Clayton, Dubilier & Rice, LLC ("CD&R") on August 31, 2023 (the "Merger"), including investors who sold their shares of Focus Financial common stock into the Merger, and (2) all persons or entities that held Focus Financial common stock on the June 9, 2023 record date for the Merger who were entitled to vote on the Merger. This action is pending in the United States District Court for the District of Delaware.
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FOCUS FINANCIAL SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Focus Financial Partners Inc. - FOCS
NEW ORLEANS , Feb. 16, 2024 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 4, 2024 to file lead plaintiff applications in a securities class action lawsuit against Focus Financial Partners Inc. (NasdaqGS: FOCS), if they (1) sold shares of Focus Financial common stock from February 27, 2023 through the closing of the "take-private" acquisition of Focus Financial by Clayton, Dubilier & Rice, LLC ("CD&R") on August 31, 2023 (the "Merger"), including investors who sold their shares of Focus Financial common stock into the Merger, and (2) all persons or entities that held Focus Financial common stock on the June 9, 2023 record date for the Merger who were entitled to vote on the Merger.
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FOCUS FINANCIAL SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Focus Financial Partners Inc. - FOCS
NEW ORLEANS , Feb. 2, 2024 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 4, 2024 to file lead plaintiff applications in a securities class action lawsuit against Focus Financial Partners Inc. (NasdaqGS: FOCS), if they (1) sold shares of Focus Financial common stock from February 27, 2023 through the closing of the "take-private" acquisition of Focus Financial by Clayton, Dubilier & Rice, LLC ("CD&R") on August 31, 2023 (the "Merger"), including investors who sold their shares of Focus Financial common stock into the Merger, and (2) all persons or entities that held Focus Financial common stock on the June 9, 2023 record date for the Merger who were entitled to vote on the Merger.
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FOCUS FINANCIAL SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Focus Financial Partners Inc. - FOCS
NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 4, 2024 to file lead plaintiff applications in a securities class action lawsuit against Focus Financial Partners Inc. (NasdaqGS: FOCS), if they (1) sold shares of Focus Financial common stock from February 27, 2023 through the closing of the “take-private” acquisition of Focus Financial by Clayton, Dubilier &am.
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Brian Cook to Join Focus Partner Firm InterOcean Capital Group, Enhancing InterOcean's Presence in the Nashville Area
NEW YORK, NY / ACCESSWIRE / August 22, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Phillip Brian Cook, Jr will join Focus partner firm InterOcean Capital Group, LLC ("InterOcean"). The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions.
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Focus Financial Partners Inc. (FOCS) Lags Q2 Earnings and Revenue Estimates
Focus Financial Partners Inc. (FOCS) came out with quarterly earnings of $0.90 per share, missing the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $1.18 per share a year ago.
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Focus Financial Partners Reports Second Quarter 2023 Results
NEW YORK, NY / ACCESSWIRE / August 3, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus Inc.", "Focus", the "Company", "we", "us" or "our"), a leading partnership of independent, fiduciary wealth management firms, today reported results for its second quarter ended June 30, 2023. Second Quarter 2023 Highlights Total revenues of $583.8 million, 8.3% growth year over year Organic revenue growth(1) rate of 4.9% year over year GAAP net income of $29.1 million GAAP basic income and diluted loss per share of Class A common stock of $0.49 and ($0.10), respectively Adjusted Net Income Excluding Tax Adjustments(2) of $61.3 million and Tax Adjustments(3) of $17.6 million Adjusted Net Income Excluding Tax Adjustments Per Share(2) of $0.70 and Tax Adjustments(3) Per Share(2) of $0.20 Net Leverage Ratio(4) of 4.36x Please see footnote 2 under "How We Evaluate Our Business" later in this press release.
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Padlock Investment Management to Join Focus Partner Firm Dorchester Wealth Management, Enhancing Dorchester's Toronto Presence
NEW YORK, NY / ACCESSWIRE / July 31, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Padlock Investment Management Inc. ("Padlock"), a portfolio management firm located in Toronto, Ontario, Canada, will join Focus partner firm Dorchester Wealth Management Company ("Dorchester"), headquartered in Montreal, Quebec, Canada. This transaction is expected to close in the third quarter of 2023, subject to customary closing conditions including regulatory approval.
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Focus Financial Partners to Release 2023 Second Quarter Results on August 3
NEW YORK, NY / ACCESSWIRE / July 20, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, today announced that it will report its results for the second quarter ended June 30, 2023 on Thursday, August 3, 2023. Due to the definitive agreement for Focus to be acquired by affiliates of Clayton, Dubilier & Rice, LLC, which is expected to close in the third quarter of 2023, Focus is not expected to host an earnings conference call or take questions from the investment community.
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INVESTOR ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / July 13, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Focus Financial Partners Inc. ("Focus Financial Partners" or "the Company") (NASDAQ:FOCS) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to be acquired by Clayton Dubilier & Rice, LLC ("CD&R"). The investigation focuses on determining if Focus Financial Partners' Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether CD&R is underpaying for the Company.
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INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / July 10, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Focus Financial Partners Inc. ("Focus Financial Partners" or "the Company") (NASDAQ: FOCS) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to be acquired by Clayton Dubilier & Rice, LLC ("CD&R"). The investigation focuses on determining if Focus Financial Partners' Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether CD&R is underpaying for the Company.
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SHAREHOLDER ACTION NOTICE: The Schall Law Firm Announces it is Investigating Claims Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / July 8, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Focus Financial Partners Inc. ("Focus Financial Partners" or "the Company") (NASDAQ: FOCS) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to be acquired by Clayton Dubilier & Rice, LLC ("CD&R"). The investigation focuses on determining if Focus Financial Partners' Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether CD&R is underpaying for the Company.
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FOCUS FINANCIAL FINAL ALERT: FOCS Shareholders Interested in Pursuing Potential Claims Should Contact Julie & Holleman Regarding Sale of Company to CD&R
NEW YORK , July 5, 2023 /PRNewswire/ -- Shareholder rights law firm Julie & Holleman LLP is investigating the proposed $7 billion acquisition of Focus Financial Partners Inc. (NASDAQ: FOCS) by private equity firm Clayton, Dubilier & Rice, LLC ("CD&R"). The firm is concerned about the price being offered as well as potential conflicts of interest.
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Focus Financial Partners, Inc. (FOCS) Merger Investigation: Robbins LLP is Investigating the Acquisition of Focus Financial Partners, Inc.
SAN DIEGO--(BUSINESS WIRE)---- $FOCS #ClaytonDubilierRice--Focus Financial Partners, Inc. (FOCS) Merger Investigation: Robbins LLP is Investigating the Acquisition of Focus Financial Partners, Inc.
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INVESTIGATION ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / June 29, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Focus Financial Partners Inc. ("Focus Financial Partners" or "the Company") (NASDAQ:FOCS) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to be acquired by Clayton Dubilier & Rice, LLC ("CD&R"). The investigation focuses on determining if Focus Financial Partners' Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether CD&R is underpaying for the Company.
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Endurance Wealth Management to Join Focus Partner Firm Crestwood Advisors, Extending Crestwood's New England Presence
NEW YORK, NY / ACCESSWIRE / June 26, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Endurance Wealth Management, Inc. ("Endurance Wealth" or "Endurance"), a registered investment adviser based in Providence, RI will join Focus partner firm Crestwood Advisors Group, LLC ("Crestwood"). The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions.
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Focus Financial Partners, Inc. (FOCS) Shareholder Alert: Robbins LLP Informs Stockholders it is Investigating the Acquisition of Focus Financial Partners, Inc. by Clayton, Dubilier & Rice
SAN DIEGO--(BUSINESS WIRE)---- $FOCS #ClaytonDubilierRice--Robbins LLP Is Investigating the Acquisition of Focus Financial Partners, Inc. by Clayton, Dubilier & Rice.
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INVESTOR ACTION NOTICE: The Schall Law Firm Announces it is Investigating Claims Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / June 19, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Focus Financial Partners Inc. ("Focus Financial Partners" or "the Company") (NASDAQ:FOCS) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to be acquired by Clayton Dubilier & Rice, LLC ("CD&R"). The investigation focuses on determining if Focus Financial Partners' Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether CD&R is underpaying for the Company.
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FOCUS FINANCIAL PARTNERS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Focus Financial Partners Inc. - FOCS
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Focus Financial Partners Inc. (NasdaqGS: FOCS) to a partnership of Clayton, Dubilier & Rice, LLC and Stone Point Capital LLC. Under the terms of the proposed transaction, shareholders of Focus will receive $53 in cash for each share of Focus that they own. KSF is seeking to determine whether this considera.
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ONGOING INVESTIGATION NOTICE: The Schall Law Firm Announces it is Investigating Claims Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / May 26, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Focus Financial Partners Inc. ("Focus Financial Partners" or "the Company") (NASDAQ:FOCS) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to be acquired by Clayton Dubilier & Rice, LLC ("CD&R"). The investigation focuses on determining if Focus Financial Partners' Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether CD&R is underpaying for the Company.
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SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / May 17, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Focus Financial Partners Inc. ("Focus Financial Partners" or "the Company") (NASDAQ:FOCS) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to be acquired by Clayton Dubilier & Rice, LLC ("CD&R"). The investigation focuses on determining if Focus Financial Partners' Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether CD&R is underpaying for the Company.
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INVESTIGATION ACTION NOTICE: The Schall Law Firm Announces it is Investigating Claims Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / May 16, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Focus Financial Partners Inc. ("Focus Financial Partners" or "the Company") (NASDAQ:FOCS) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to be acquired by Clayton Dubilier & Rice, LLC ("CD&R"). The investigation focuses on determining if Focus Financial Partners' Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether CD&R is underpaying for the Company.
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Madison Wealth Advisors to Join Focus Partner Firm Buckingham Strategic Wealth, Deepening Buckingham's Presence in the Kansas City Area
NEW YORK, NY / ACCESSWIRE / May 12, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Madison Wealth Advisors, LLC ("Madison" or "Madison Wealth Advisors"), a registered investment adviser based in Lee's Summit, MO, will join Focus partner firm Buckingham Strategic Wealth, LLC ("Buckingham" or "Buckingham Strategic Wealth"). This transaction is expected to close in the third quarter of 2023, subject to customary closing conditions.
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Focus Financial Partners Inc. (FOCS) Q1 2023 Earnings Call Transcript
Focus Financial Partners Inc. (NASDAQ:FOCS ) Q1 2023 Results Conference Call May 4, 2023 8:30 AM ET Company Participants John McGranahan - General Counsel & Corporate Secretary Rudy Adolf - Founder and CEO Jim Shanahan - CFO John McGranahan Good morning, everyone. Before we begin, let me remind you that during the course of this call, we may make a number of forward-looking statements.
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ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / May 5, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Focus Financial Partners Inc. ("Focus Financial Partners" or "the Company") (NASDAQ:FOCS) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to be acquired by Clayton Dubilier & Rice, LLC ("CD&R"). The investigation focuses on determining if Focus Financial Partners' Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether CD&R is underpaying for the Company.
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Focus Financial Partners Inc. (FOCS) Misses Q1 Earnings and Revenue Estimates
Focus Financial Partners Inc. (FOCS) came out with quarterly earnings of $0.89 per share, missing the Zacks Consensus Estimate of $0.96 per share. This compares to earnings of $1.16 per share a year ago.
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Focus Financial Partners Reports First Quarter 2023 Results
Resilient Financial Performance and Strong M&A Momentum Despite Challenging Macro Environment NEW YORK, NY / ACCESSWIRE / May 4, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus Inc.", "Focus", the "Company", "we", "us" or "our"), a leading partnership of independent, fiduciary wealth management firms, today reported results for its first quarter ended March 31, 2023. First Quarter 2023 Highlights Total revenues of $557.5 million, 3.9% growth year over year Organic revenue growth(1) rate of 0.3% year over year GAAP net loss of ($7.0) million GAAP basic and diluted loss per share of Class A common stock of ($0.01) and ($0.22), respectively Adjusted Net Income Excluding Tax Adjustments(2) of $60.1 million and Tax Adjustments(3) of $17.4 million Adjusted Net Income Excluding Tax Adjustments Per Share(2) of $0.69 and Tax Adjustments(3) Per Share(2) of $0.20 Net Leverage Ratio(4) of 4.41x On February 27, 2023, entered into an Agreement and Plan of Merger (the "Merger Agreement") with affiliates of Clayton, Dubilier & Rice, LLC ("CD&R") to be acquired by CD&R in an all-cash transaction Please see footnote 2 under "How We Evaluate Our Business" later in this press release.
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FOCS MERGER UPDATE: Focus Financing Shareholders Interested in Pursuing Potential Claims Should Contact Julie & Holleman Regarding Sale of Company to CD&R
NEW YORK , April 28, 2023 /PRNewswire/ -- Shareholder rights law firm Julie & Holleman LLP is investigating the proposed $7 billion acquisition of Focus Financial Partners Inc. (NASDAQ: FOCS) by private equity firm Clayton, Dubilier & Rice, LLC ("CD&R"). The firm is concerned about the price being offered as well as potential conflicts of interest.
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FOCS SHAREHOLDER ALERT: Kaskela Law LLC Announces Shareholder Investigation of Focus Financial Partners Inc. and Seeks Additional Cash for Investors - FOCS
PHILADELPHIA , April 13, 2023 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating the fairness of the recently announced buyout of Focus Financial Partners Inc. ("Focus") (NASDAQ: FOCS) shareholders.
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SHAREHOLDER ACTION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / April 11, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Focus Financial Partners Inc. ("Focus Financial Partners" or "the Company") ( NASDAQ:FOCS ) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to be acquired by Clayton Dubilier & Rice, LLC ("CD&R"). The investigation focuses on determining if Focus Financial Partners' Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether CD&R is underpaying for the Company.
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SHAREHOLDER ALERT (FOCS) - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Focus Financial Partners, Inc.
WILMINGTON, Del.--(BUSINESS WIRE)--Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Focus Financial Partners, Inc. (NASDAQGS: FOCS) (“Focus Financial” or the “Company”) relating to the sale of Focus Financial to Clayton Dubilier & Rice, LLC (“CD&R”), a private equity firm.
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Focus Financial Partners Announces Expiration of "Go-Shop" Period in Connection with its Acquisition by Clayton, Dubilier & Rice
NEW YORK, NY / ACCESSWIRE / April 10, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus" or the "Company"), a leading partnership of independent, fiduciary wealth management firms, announced today the expiration of the 40-day "go-shop" period under the terms of the previously announced definitive merger agreement, pursuant to which affiliates of Clayton, Dubilier & Rice, LLC ("CD&R") will acquire Focus for $53.00 per share in an all cash transaction. Funds managed by Stone Point Capital LLC ("Stone Point") have agreed to retain a portion of their investment in Focus and provide new equity financing as part of the proposed transaction.
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Arthur Zaske and Team to Join Focus Partner Firm InterOcean Capital Group, Enhancing InterOcean's Presence in the Midwest
NEW YORK, NY / ACCESSWIRE / March 31, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that Arthur (Art) Zaske and his team ("Zaske"), based in Bingham Farms, Michigan, is joining Focus partner firm InterOcean Capital Group, LLC ("InterOcean"). Art and his team are expected to join InterOcean during the second quarter of 2023.
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Westcourt Capital to Join Focus as a New Partner Firm, Strengthening Focus' Partner Presence in Canada
NEW YORK, NY / ACCESSWIRE / March 30, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, today announced that Westcourt Capital Corporation ("Westcourt Capital"), an independent investment advisory firm based in Toronto has entered into an agreement to join the Focus partnership. Westcourt Capital will be Focus' fifth partner firm in Canada and reflects Focus' continued expansion in the ultra-high net worth space.
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INVESTOR ACTION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / March 30, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Focus Financial Partners Inc. ("Focus Financial Partners" or "the Company") ( NASDAQ:FOCS ) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to be acquired by Clayton Dubilier & Rice, LLC ("CD&R"). The investigation focuses on determining if Focus Financial Partners' Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether CD&R is underpaying for the Company.
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Citizens, LISC Team up to Help Workers Build Digital Skills That Open Doors to Strong Jobs, Economic Opportunity
NEW YORK & PROVIDENCE, R.I.--(BUSINESS WIRE)--The Citizens Charitable Foundation announced today a $1.25 million grant to the Local Initiatives Support Corporation (LISC) to fuel digital inclusion in historically marginalized communities, helping residents build the skills they need to compete for jobs. “Citizens is committed to helping our communities thrive, and equitable access to digital literacy is key to economic vitality,” said Bruce Van Saun, Chairman and CEO, Citizens Financial Group. “We are proud to work with LISC to ensure that people in historically marginalized communities are able to build the skills they need to compete for jobs now and in the future.” Supporting work at eight LISC Financial Opportunity Center® (FOC) partners, the funding will help launch and expand digital services that prepare people for growth industries, including the information technology field. LISC FOCs are community-based programs that integrate services related to employment training and career coaching, job placement, financial coaching, and wrap-around social support like child-care, housing and transportation so that people can achieve long-term financial stability. “Basic digital skills and access to technology and the internet are essential to participate in society and the economy,” said Katrin Sirje Kärk, LISC’s director of workforce innovations. “Advancing digital equity is a key LISC strategy for closing racial wealth gaps, and this grant from Citizens will help us embed digital skills training as a core component of the FOC experience, helping people build a strong career pathway for the future.” The $1.25 million grant from Citizens builds on a pilot program, also supported by the bank, that tested approaches to bridging the digital skills gap. The grant is supporting one-on-one training, digital literacy workshops, ongoing digital coaching, and job training for the information technology field. Since FOC services are delivered by experienced community-based nonprofits, the digital training is tailored to local economic and employment conditions, with a particular focus on people and communities where job loss, discrimination and underinvestment have limited opportunities. Importantly, the experience gained from these efforts can then be replicated throughout LISC’s national network of more than 120 FOCs, which serve 25,000 people each year. The funding directly benefits people who face the steepest structural barriers to opportunity. More than 83 percent of FOC clients are people of color, and 60 percent are women. They take advantage of a range of FOC programs—including the Bridges to Career Opportunities program, which focuses on foundational skills like math and reading, as well as technical training—so they can move into better-paying jobs and build a more stable financial future. Citizens has been a long-time supporter of LISC and FOCs, with more than $4 million in funding since 2018. The new digital inclusion grant is part of the bank’s broad efforts on workforce development to address critical economic needs, create stronger communities, and build a culture of inclusion, including investments in minority-led small businesses and nonprofits as well as partnerships that bridge the digital divide. About Citizens Financial Group, Inc. Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $226.7 billion in assets as of December 31, 2022. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,400 ATMs and approximately 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook. About LISC LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. We work with residents and partners to close systemic gaps in health, wealth and opportunity and advance racial equity so that people and places can thrive. Since our founding in 1979, LISC has invested $29.7 billion to create more than 489,000 affordable homes and apartments, develop 81.5 million square feet of retail, community and educational space and help tens of thousands of people find employment and improve their finances. For more, visit www.lisc.org. About FOCs LISC’s Financial Opportunity Center® (FOC) partners provide one-on-one coaching services that help low- to moderate-income people build smart money habits, access higher paying jobs and focus on the financial bottom line. LISC has a network of more than 120 FOC partners across the country embedded in local community organizations known for their history of providing quality services. Since 2011, FOC sites have served nearly 100,000 community members in 25 states.
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SHAREHOLDER ALERT: Kaskela Law LLC Investigation of Focus Financial Partners Inc. (NASDAQ: FOCS) and Encourages Investors to Contact the Firm
PHILADELPHIA , March 25, 2023 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating Focus Financial Partners Inc. ("Focus" or the "Company") (NASDAQ: FOCS) on behalf of the Company's investors. On February 27, 2023, Focus reported that it would be acquired by private investment firms Clayton, Dubilier & Rice, LLC and Stone Point Capital LLC at a price of $53.00 per share in cash.
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SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / March 20, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Focus Financial Partners Inc. ("Focus Financial Partners" or "the Company") (NASDAQ: FOCS ) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to be acquired by Clayton Dubilier & Rice, LLC ("CD&R"). The investigation focuses on determining if Focus Financial Partners' Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether CD&R is underpaying for the Company.
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SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Investors of an Investigation into the Fairness of the Acquisition of Focus Financial Partners Inc. by Clayton, Dubilier & Rice, LLC
NEW YORK , March 16, 2023 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Focus Financial Partners Inc. (" Focus" or the "Company") (NASDAQ: FOCS) stock prior to February 27, 2023 . You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the acquisition of Focus by affiliates of Clayton, Dubilier & Rice, LLC ("CD&R") and Focus' largest stockholder, Stone Point Capital LLC ("Stone Point").
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Hausman Advisors to Join Focus Partner Firm Buckingham Strategic Wealth, Broadening Buckingham's Presence in the Pacific Northwest
NEW YORK, NY / ACCESSWIRE / March 16, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Hausman Advisors, LLC ("Hausman"), a registered investment adviser based in Hood River, OR, will join Focus partner firm Buckingham Strategic Wealth, LLC ("Buckingham" or "Buckingham Strategic Wealth"). This transaction is expected to close in the second quarter of 2023, subject to customary closing conditions.
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INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Focus Financial Partners Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES--(BUSINESS WIRE)---- $FOCS #FOCS--The Schall Law Firm Announces it is Investigating Claims Against Focus Financial Partners Inc.
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Kaskela Law LLC Announces Investigation of Focus Financial Partners Inc. Proposed Buyout and Encourages Shareholders to Contact the Firm - FOCS
PHILADELPHIA , March 10, 2023 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating the proposed shareholder buyout of Focus Financial Partners Inc. ("Focus" or the "Company") (NASDAQ: FOCS) on behalf of the Company's shareholders. On February 27, 2023, Focus announced that it would be acquired by private investment firms Clayton, Dubilier & Rice, LLC ("CDR") and Stone Point Capital LLC ("Stone Point") at a price of $53.00 per share in cash.
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FOCUS FINANCIAL SHAREHOLDER ALERT (FOCS) - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Focus Financial Partners, Inc.
WILMINGTON, Del.--(BUSINESS WIRE)--Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Focus Financial Partners, Inc. (NASDAQGS: FOCS) (“Focus Financial” or the “Company”) relating to the sale of Focus Financial to Clayton Dubilier & Rice, LLC (“CD&R”), a private equity firm.
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SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Focus Financial Partners Inc. Stockholder Buyout and Encourages Investors to Contact the Firm – FOCS
PHILADELPHIA--(BUSINESS WIRE)--Investor protection law firm Kaskela Law LLC announces that it is investigating the proposed stockholder buyout of Focus Financial Partners Inc. (“Focus” or the “Company”) (NASDAQ: FOCS) on behalf of the Company's shareholders. On February 27, 2023, Focus announced that it would be acquired by private investment firms Clayton, Dubilier & Rice, LLC (“CDR”) and Stone Point Capital LLC (“Stone Point”) at a price of $53.00 per share in cash.
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SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Focus Financial Partners Inc. (FOCS) Proposed Privatization and Encourages Investors to Contact the Firm
PHILADELPHIA , March 1, 2023 /PRNewswire/ -- Shareholder protection law firm Kaskela Law LLC announces that it is investigating Focus Financial Partners Inc. ("Focus" or the "Company") (NASDAQ: FOCS) on behalf of the Company's shareholders. Focus shareholders are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.
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STOCKHOLDER ALERT: The M&A Class Action Firm Announces the Investigation of Focus Financial Partners Inc. - FOCS
NEW YORK , Feb. 27, 2023 /PRNewswire/ -- Juan Monteverde , founder and managing partner of the class action firm Monteverde & Associates PC (the "M&A Class Action Firm"), a national securities firm rated Top 50 in the 2018-2021 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating Focus Financial Partners Inc. (NASDAQ: FOCS), relating to its proposed sale to affiliates of Clayton Dubilier & Rice LLC. Under the terms of the agreement, FOCS shareholders are expected to receive $53.00 in cash per share they own.
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Shareholder Alert: Ademi LLP investigates whether Focus Financial Partners Inc. has obtained a Fair Price in its transaction with Clayton, Dubilier & Rice
MILWAUKEE , Feb. 27, 2023 /PRNewswire/ -- Ademi LLP is investigating Focus (NASDAQ: FOCS) for possible breaches of fiduciary duty and other violations of law in its transaction with Clayton, Dubilier & Rice. Click here to learn how to join the action https://www.ademilaw.com/case/Focus-realty-capital-inc or call Guri Ademi toll-free at 866-264-3995.
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FOCS MERGER ALERT: Julie & Holleman Investigates Potential Legal Claims Related to Proposed Sale of Focus Financial to CD&R
NEW YORK , Feb. 27, 2023 /PRNewswire/ -- Shareholder rights law firm Julie & Holleman LLP is investigating the proposed $7 billion acquisition of Focus Financial Partners Inc. (NASDAQ: FOCS) by private equity firm Clayton, Dubilier & Rice, LLC ("CD&R"). To learn more about the investigation, click here.
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FOCS Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Focus Financial Partners Inc. Is Fair to Shareholders
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Focus Financial Partners Inc. (NASDAQ: FOCS) to affiliates of Clayton, Dubilier & Rice, LLC (“CD&R”) for $53.00 per share in cash is fair to Focus shareholders. Halper Sadeh encourages Focus shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halpersadeh.com. The investigation concerns whether Focus and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Focus shareholders; (2) determine whether CD&R is underpaying for Focus; and (3) disclose all material information necessary for Focus shareholders to adequately assess and value the merger consideration. On behalf of Focus shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits. Halper Sadeh encourages Focus shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halpersadeh.com. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome.
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Focus Financial Partners to be Acquired by Clayton, Dubilier & Rice
Stockholders to Receive $53 per Share in Cash NEW YORK, NY / ACCESSWIRE / February 27, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus" or the "Company"), a leading partnership of independent, fiduciary wealth management firms, Clayton, Dubilier & Rice, LLC ("CD&R") and Stone Point Capital LLC ("Stone Point") announced today that Focus and CD&R have entered into a definitive agreement for Focus to be acquired by affiliates of CD&R in an all-cash transaction valued at an enterprise value of over $7 billion. The proposed transaction delivers substantial value to Focus' stockholders, who will receive $53 in cash per share, representing an approximately 36% premium to Focus' 60-day volume weighted average price as of the close on February 1, 2023 (the day prior to public announcement of the potential transaction), and an approximately 48% premium to the closing price of the Company's Class A common stock on December 28, 2022 (the day the Special Committee of the Board of Directors of Focus (the "Special Committee") authorized its financial advisors to contact other specified potential bidders regarding interest in a potential transaction).
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Hotaling Investment Management To Join Focus Partner Firm GYL Financial Synergies, Expanding GYL's East Coast Presence
NEW YORK, NY / ACCESSWIRE / February 23, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Hotaling Investment Management, LLC ("Hotaling") will join Focus partner firm GYL Financial Synergies, LLC ("GYL"). GYL is headquartered in West Hartford, CT and has additional offices in Westport, CT and Parsippany, NJ.
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Cortina Business Management to Join Focus Partner Firm Gelfand, Rennert & Feldman, Further Expanding Gelfand's Multi-Family Office and Business Management Presence in the Northeast
NEW YORK, NY / ACCESSWIRE / February 21, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Cortina Business Management, Inc. ("Cortina Business Management"), a boutique multifamily office and business manager located in Needham, MA, will join Focus partner firm Gelfand, Rennert & Feldman, LLC ("GR&F"), a leading multifamily office and full-service business management firm headquartered in Los Angeles, CA.This transaction is expected to close in the first quarter of 2023, subject to customary closing conditions. Cortina Business Management was founded in 2002 by Rose Cortina.
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Davis Financial Planning to Join Focus Partner Firm Buckingham Strategic Wealth, Expanding Buckingham's North Carolina Presence to Asheville
NEW YORK, NY / ACCESSWIRE / February 17, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Davis Financial Planning, LLC ("DFP"), a registered investment adviser based in Asheville, NC, will join Focus partner firm Buckingham Strategic Wealth, LLC ("Buckingham" or "Buckingham Strategic Wealth"). This transaction is expected to close in the second quarter of 2023, subject to customary closing conditions.
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Focus Financial Partners Inc. (FOCS) Q4 2022 Earnings Call Transcript
Focus Financial Partners Inc. (NASDAQ:FOCS ) Q4 2022 Earnings Conference Call February 16, 2023 8:30 AM ET Company Participants Rusty McGranahan - General Counsel Rudy Adolf - Founder, Chief Executive Officer & Chairman Jim Shanahan - Chief Financial Officer Conference Call Participants Operator Good morning. I would like to welcome everyone to the Focus Financial Partners 2022 Fourth Quarter and Full Year Earnings Call.
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Focus Financial Partners Reports Fourth Quarter and Full Year 2022 Results
Solid Full-Year Performance, Demonstrating Business Resiliency and Momentum Despite the Challenging Macro Environment NEW YORK, NY / ACCESSWIRE / February 16, 2023 / Focus Financial Partners Inc. (Nasdaq:FOCS) ("Focus Inc.", "Focus", the "Company", "we", "us" or "our"), a leading partnership of independent, fiduciary wealth management firms, today reported results for its fourth quarter and full year ended December 31, 2022. Fourth Quarter 2022 Highlights Total revenues of $547.7 million, 4.5% growth year over year Organic revenue growth(1) rate of negative 3.5% year over year GAAP net loss of $1.4 million GAAP basic income per share of Class A common stock of $0.01 and diluted loss per share of Class A common stock of ($0.07) Adjusted Net Income Excluding Tax Adjustments(2) of $65.7 million and Tax Adjustments(3) of $16.9 million Adjusted Net Income Excluding Tax Adjustments Per Share(2) of $0.79 and Tax Adjustments(3) Per Share(2) of $0.20 Completed credit refinancing in November including a new $240 million term loan Net Leverage Ratio(4) of 4.19x Full Year 2022 Highlights Total revenues of $2.1 billion, 19.2% growth year over year Organic revenue growth(1) rate of 8.5% year over year GAAP net income of $125.3 million GAAP basic and diluted income per share of Class A common stock of $1.40 and $1.39, respectively Adjusted Net Income Excluding Tax Adjustments(2) of $300.5 million and Tax Adjustments(3) of $64.4 million Adjusted Net Income Excluding Tax Adjustments Per Share(2) of $3.62 and Tax Adjustments(3) Per Share(2) of $0.77 Net cash provided by operating activities for the trailing 4-quarters ended December 31, 2022 of $288.6 million LTM Cash Flow Available for Capital Allocation(2) for the trailing 4-quarters ended December 31, 2022 of $317.7 million 24 transactions closed in 2022, including 5 new partner firms and 19 mergers on behalf of partner firms Please see footnote 2 under "How We Evaluate Our Business" later in this press release.
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Focus Financial Partners Makes a Minority Investment in Luminary Platforms, Inc., a Technology Platform That Brings Efficiency and Integrated Access to Legacy Planning
NEW YORK, NY / ACCESSWIRE / February 14, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has made a minority investment in Luminary Platforms, Inc. ("Luminary"), a technology platform that brings efficiency and integration to how advisors connect client assets with their legacy goals. This investment reflects Focus' commitment to further deepening the client solutions it offers its partner firms through its value-added programs.
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Strength Seen in Focus Financial Partners Inc. (FOCS): Can Its 8.1% Jump Turn into More Strength?
Focus Financial Partners Inc. (FOCS) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
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Focus Announces Acquisition Proposal and Exclusivity Arrangement with Clayton, Dubilier & Rice
NEW YORK, NY / ACCESSWIRE / February 2, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it had entered into an exclusivity agreement for a limited period with Clayton, Dubilier & Rice, LLC ("CD&R"), a private investment firm, to engage in negotiations regarding the terms and definitive agreements whereby CD&R may potentially acquire Focus for $53 per share in cash. A Special Committee of the Board of Directors of Focus (the "Special Committee") was formed on November 1, 2022 to evaluate a non-binding offer received from CD&R and to explore alternative transactions.
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Alliance Benefit Group Southwest to Join Focus Partner Firm Sentinel Group
NEW YORK, NY / ACCESSWIRE / January 30, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Alliance Benefit Group Southwest, LLC ("ABGSW"), a retirement administration and record-keeping firm based in Albuquerque, NM, will join Focus partner firm Sentinel Benefits Group, LLC, which is part of Sentinel Group ("Sentinel"), headquartered in Wakefield, MA. The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
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Will Focus Financial Partners Inc. (FOCS) Beat Estimates Again in Its Next Earnings Report?
Focus Financial Partners Inc. (FOCS) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
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Newman Schimel to Join Focus Partner Firm Kovitz Investment Group, Expanding Kovitz's Greater Chicago Area Presence in its Second Transaction Announced in 2023
NEW YORK, NY / ACCESSWIRE / January 25, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Newman & Schimel, LLC("Newman Schimel"), a registered investment adviser based in Deerfield, IL, will join Chicago-based Focus partner firm Kovitz Investment Group Partners, LLC ("Kovitz"). This transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
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Financial Partners Capital Management to Join Focus Partner Firm GYL Financial Synergies
Transaction Will Increase GYL's Scale and Establish Its New York City Presence NEW YORK, NY / ACCESSWIRE / January 10, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Financial Partners Capital Management, LLC ("FPCM") will join Focus partner firm GYL Financial Synergies, LLC ("GYL"), GYL is headquartered in West Hartford, CT and has offices in Westport, CT and Parsippany, NJ. The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
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Oxford Financial Partners Will Join Focus Partner Firm Buckingham Strategic Wealth, Establishing Buckingham's First Office in Cincinnati, Ohio
NEW YORK, NY / ACCESSWIRE / January 6, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Siena Capital, LLC, d/b/a Oxford Financial Partners ("Oxford" or "Oxford Financial Partners"), an investment adviser based in Cincinnati, OH, will join Focus partner firm Buckingham Strategic Wealth, LLC ("Buckingham" or "Buckingham Strategic Wealth"). This transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
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Origin Investments to Join Forces with Focus Partner Firm Kovitz Investment Group in a Strategic Transaction to Expand Kovitz's Private Real Estate Investment Solutions
NEW YORK, NY / ACCESSWIRE / January 5, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Origin Holding Company, LLC ("Origin"), a private real estate fund manager headquartered in Chicago, IL, will join forces with Chicago-based Focus partner firm Kovitz Investment Group Partners, LLC ("Kovitz"). The Origin business will retain its leadership and investment team and will continue to offer its real estate funds under the Origin brand.
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Cooper Lapman to Join Focus Partner Firm The Colony Group, Expanding Colony's Substantial Boston Presence in its Second Strategic Transaction Announced in 2022
NEW YORK, NY / ACCESSWIRE / December 27, 2022 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Cooper Lapman Financial, LLC ("Cooper Lapman"), a registered investment adviser based in Boston, MA, will join Focus partner firm The Colony Group, LLC ("Colony"). The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
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Convergent Financial Strategies to Join Focus Partner Firm Buckingham Strategic Wealth, Creating a New Presence in Philadelphia Wealth Market
NEW YORK, NY / ACCESSWIRE / December 23, 2022 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Convergent Financial Strategies LLC ("Convergent"), a registered investment adviser based in Plymouth Meeting, PA, will join Focus partner firm Buckingham Strategic Wealth, LLC ("Buckingham" or "Buckingham Strategic Wealth"). This transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
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The Classic Lasts. UWELL Caliburn A3 Glamorously Came Out
SHENZHEN, China--(BUSINESS WIRE)--World-renowned vaping brand UWELL has recently unveiled the new product of Caliburn series - Caliburn A3 pod system. It starts to be sold in the partnering stores and greeted enthusiastically by consumers. As UWELL’s first pod system product line, CALIBURN flourished once it entered the e-cig market in 2019. It has gained a good reputation and prestige with its high quality and premium taste, pushing UWELL to the leading position in vaping industry. CALIBURN's classic design and reliable performance were embodied in each generation of its products, winning many awards, including the best vape pods of VAPING360, the most popular OPEN POD of VAPEMAGZ AWARDS, and the best open pod system of VAPOROUND. CALIBURN series products were sold in more than 80 countries and welcomed by all users. With automatic ignition channel detection function, 15-minute fast charging, and upgraded leakage control, CALIBURN A3 is believed to elevate consumer confidence. UWELL sincerely appreciates the feedback from the market, so the R&D team improved the inner structure for higher battery utility, making the 520 mAh battery work continuously for a longer time. They also redesigned the pod of A3 for more advanced leaking control. These considerate measures will help CALIBURN A3 to serve users better. The automatic ignition channel detection function is a significant progression. When starting with auto-draw, the sensor will detect your inhaling action and ignite promptly, and when pressing down the button, it will turn to the button firing immediately. Once the button is released, the ignition stops immediately. There’s another humanized design—the button lock function. To avoid the false trigger, A3 added the locking and unlocking function. Disable the button ignition function by pressing the fire button twice to take it out easily in a bag or pocket. Safety and portability are the most important advantages. CALIBURN A3 has a one more critical point of fast and smart 2A charging design. UWELL CALIBURN A3 will charge fast early and start charging stably in the remaining time. This intelligent charging control will effectively decrease the waiting time and protect the battery. Stable performance comes from quality-assured hardware, while the authentic taste is from UWELL’s patented Pro-FOCS flavor adjustment technology, which restores the e-liquid adequately. Adherence to innovation and high quality has always been the philosophy of UWELL. The classic of UWELL and CALIBURN will last based on this principle.
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Focus Financial Partners: Upside But With Risk Of Cost Growth
Focus Financial Partners has an improving financial picture, with gains made in both revenue as well as cost improvements. This has resulted in the Focus Financial Partners' share price being undervalued compared to peers when looking at multiples.
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Regent Investment Management to Join Focus Partner Firm Bartlett & Co. Wealth Management, Expanding Its Midwest Presence
NEW YORK, NY / ACCESSWIRE / December 2, 2022 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Regent Investment Management, LLC ("Regent"), an investment adviser based in Louisville, Kentucky, will join Focus partner firm Bartlett & Co. Wealth Management LLC ("Bartlett"). The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
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Davis & Seiley Wealth Management to Join Focus Partner Firm HoyleCohen, Further Expanding HoyleCohen's Presence in the San Diego Wealth Management Market
NEW YORK, NY / ACCESSWIRE / November 29, 2022 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Davis & Seiley Wealth Management, Inc. ("Davis & Seiley"), a registered investment adviser ("RIA") located in La Mesa, California, will join Focus partner firm HoyleCohen, LLC ("HoyleCohen"), headquartered in San Diego, California. This transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
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Focus Financial Partners Closes Credit Refinancing, Raising New Term Loan and Extending Maturities and Increasing Financial Flexibility
NEW YORK, NY / ACCESSWIRE / November 28, 2022 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has closed on its credit refinance and term loan raise. Focus raised a new $1,760 million First Lien Term Loan B ("Term Loan B") and a new $240 million First Lien Term Loan A ("Term Loan A"), which is available on a 9 month delayed draw basis.
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Clintsman Financial Planning to Join Focus Partner Firm Buckingham Strategic Wealth, Strengthening Buckingham's Presence in the Dallas/Forth Worth Area
NEW YORK, NY / ACCESSWIRE / November 22, 2022 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Clinstman Financial Planning ("Clintsman"), a registered investment adviser based in Southlake, TX, will join Focus partner firm Buckingham Strategic Wealth, LLC ("Buckingham" or "Buckingham Strategic Wealth"). This transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
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Focus Financial Partners to Present at the Goldman Sachs 2022 US Financial Services Conference
NEW YORK, NY / ACCESSWIRE / November 22, 2022 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that Rudy Adolf, Founder, CEO and Chairman, and Jim Shanahan, Chief Financial Officer, are scheduled to present at the Goldman Sachs 2022 US Financial Services Conference on Tuesday, December 6, 2022 beginning at approximately 10:40 a.m. ET. Their remarks will include comments on Focus' business strategy, financial performance and outlook.
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Spectrum Wealth Management to Join Focus as a New Partner Firm, Strengthening Focus' Partner Presence in the Midwest
NEW YORK, NY / ACCESSWIRE / November 16, 2022 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that Spectrum Management Group, LLC ("Spectrum" or "Spectrum Wealth Management"), a registered investment adviser headquartered in Indianapolis, IN, has entered into an agreement to join the Focus partnership. The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
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Focus Financial Partners Announces Launch of Credit Facility Refinancing Reaffirms 3.5x to 4.5x Net Leverage Ratio Target
NEW YORK, NY / ACCESSWIRE / November 11, 2022 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it is launching a new credit facility to refinance its existing First Lien Term Loan and Revolver due in 2024. Focus may also raise additional debt capital for general corporate purposes.
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Focus Financial Partners Inc. (FOCS) Q3 2022 - Earnings Call Transcript
Focus Financial Partners Inc. (NASDAQ:FOCS ) Q3 2022 Earnings Conference Call November 3, 2022 8:30 AM ET Company Participants Ruediger Adolf - Founder, CEO & Chairman James Shanahan - CFO Russell McGranahan - General Counsel Conference Call Participants Craig Siegenthaler - Bank of America Ryan Kenny - Morgan Stanley Gerald O'Hara - Jefferies Matthew Moon - KBW Kwun Lau - Oppenheimer Patrick O'Shaughnessy - Raymond James Russell McGranahan Good morning, everyone. Before we begin, let me remind you that during the course of this call, we may make a number of forward-looking statements.
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Focus Financial Partners Inc. (FOCS) Tops Q3 Earnings and Revenue Estimates
Focus Financial Partners Inc. (FOCS) delivered earnings and revenue surprises of 3.92% and 3.07%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?
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Focus Financial Partners Reports Third Quarter 2022 Results Results Reflect Benefits of Diversified Revenues and Structural Earnings Protections in Volatile Markets
NEW YORK, NY / ACCESSWIRE / November 3, 2022 / Focus Financial Partners Inc. (Nasdaq:FOCS) ("Focus Inc.", "Focus", the "Company", "we", "us" or "our"), a leading partnership of independent, fiduciary wealth management firms, today reported results for its third quarter ended September 30, 2022. Third Quarter 2022 Highlights Total revenues of $519.9 million, 14.4% growth year over year Organic revenue growth(1) rate of 3.4% year over year GAAP net income of $38.3 million GAAP basic and diluted net income per share attributable to common shareholders of $0.45 and $0.44, respectively Adjusted Net Income Excluding Tax Adjustments(2) of $70.1 million and Tax Adjustments(3) of $16.7 million Adjusted Net Income Excluding Tax Adjustments Per Share(2) of $0.86 and Tax Adjustments(3) Per Share(2) of $0.20 Net Leverage Ratio(4) of 3.98x 24 transactions closed or announced year to date, including 5 new partner firms and 19 mergers on behalf of partner firms Please see footnote 2 under "How We Evaluate Our Business" later in this press release.
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18 Focus Partner Firms Named to the Inaugural Forbes/SHOOK 2022 List of Top 100 RIA Firms
NEW YORK, NY / ACCESSWIRE / October 26, 2022 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of fiduciary wealth management firms, announced today that eighteen of its partner firms were named to the inaugural Forbes/SHOOK 2022 List of 100 Top RIA Firms. This list is based on a national survey conducted by SHOOK Research, including qualitative and quantitative factors such as telephone and in-person interviews with the firms being reviewed.
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NTT Scientists Demonstrate New Way to Verify Quantum Advantage
SUNNYVALE, Calif.--(BUSINESS WIRE)--NTT Research, Inc., a division of NTT (TYO:9432), today announced that a scientist from its Cryptography and Information Security (CIS) Lab and a colleague from the NTT Social Informatics Laboratories (SIL) have written a pathbreaking paper on quantum advantage. The paper was selected to be presented at the annual IEEE Symposium on Foundations of Computer Science (FOCS), which is taking place Oct. 31–Nov. 3 in Denver. The co-authors of the paper, titled “Verifiable Quantum Advantage without Structure,” are Dr. Takashi Yamakawa, distinguished researcher at NTT SIL and Dr. Mark Zhandry, senior scientist in the NTT Research CIS Lab. The work was done in part at Princeton University, where Dr. Yamakawa was a visiting research scholar and Dr. Zhandry also serves as an assistant professor of computer science. The topic of quantum advantage (or quantum speedup) relates to the kinds of problems that quantum computers can solve faster than classical, or non-quantum, computers and how much faster they are. The problems in question are commonly described as non-deterministic polynomial-time (NP) class. How much advantage could vary to a vast degree. A quantum computer may be able to solve a particular problem in a minute or a second that takes a classical computer a week, or possibly an unfathomably exponential amount of time. In this paper, the authors address the challenge of verifying this superiority, and doing so efficiently. To date, demonstrations of quantum advantage have involved significant “structure,” or back-and-forth communication among two or more parties. The breakthrough of the Yamakawa and Zhandry paper is to demonstrate an NP hard problem where verification is possible without structure. “This is the first time that we’ve seen an exponential quantum speedup for an NP search problem, which only requires a random oracle,” said University of Texas at Austin Professor of Computer Science Dr. Scott Aaronson, who commented on an early version of the paper during a workshop on June 13, 2022, at the Simons Institute for the Theory of Computing. By only requiring a random oracle, i.e., a theoretical black box that generates random responses to each query, Yamakawa and Zhandry built their problem on unstructured computational assumptions. As such, their problem aligns more closely with one-way functions instead of structured ones, such as those found in public key cryptography. That one-way alignment facilitates efficient verification. “It is exciting to see NTT-affiliated cryptographers collaborating on research that once again merits the label of ‘breakthrough,’ especially in a paper that enriches our understanding of quantum computing, another area of focus for us at NTT Research,” said Kazuhiro Gomi, NTT Research President and CEO. “Congratulations and best wishes to all participants in this prestigious IEEE conference.” The NP search problem that Yamakawa and Zhandry devised was a two-in-one problem that entails finding 1) an n-symbol string that is a code word of a given error-correction code, and 2) an n-symbol string where each symbol is mapped to zero under the random oracle. Each problem separately is easy. But to find a single string of symbols that is both a codeword and maps to zero is much harder, at least classically. “If you’re quantum, you can solve this in polynomial time,” said Dr. Zhandry, “but if you’re classical, at least if you’re in this black-box model, you need exponential time.” On the other hand, given a potential solution, it is simple to verify it by checking that it separately solves each of the two problems. Note that, as befits a paper for FOCS, this work is basic or foundational. As pointed out in Dr. Aaronson’s talk at the Simons Institute (discussed in this NTT Research blog article), the Yamakawa-Zhandry argument falls into a class of speedups can be readily checked mathematically, but not demonstrated practically by an actual quantum computer any time soon. Beyond its pathbreaking verification scheme, however, the paper also points to something new concerning the extent of quantum speedup. “Prior to our work, we did have examples of quantum advantage for NP problems, like factoring or, in the black box setting, period finding. But it turns out that the quantum algorithm underlying all these examples was basically period finding – though showing how to apply period-finding to these examples was often non-trivial,” said Dr. Zhandry. “Our paper shows there’s at least a second case. You could optimistically interpret that as saying there’s hope that quantum advantage is more widespread than maybe we previously thought.” Sponsored by the IEEE Computer Society Technical Committee on Mathematical Foundations of Computing (TCMF), FOCS is a leading conference in the field of theoretical computer science. The call for papers for FOCS 2022, the 63rd such annual gathering, listed quantum computing as one of 17 general areas of interest. The Yamakawa-Zhandry paper is scheduled to be presented on Oct 31, 2022, at 10:15 am MT. To learn more about and register for this event, please visit the FOCS 2022 website. About NTT Research NTT Research opened its offices in July 2019 as a new Silicon Valley startup to conduct basic research and advance technologies that promote positive change for humankind. Currently, three labs are housed at NTT Research facilities in Sunnyvale: the Physics and Informatics (PHI) Lab, the Cryptography and Information Security (CIS) Lab, and the Medical and Health Informatics (MEI) Lab. The organization aims to upgrade reality in three areas: 1) quantum information, neuroscience and photonics; 2) cryptographic and information security; and 3) medical and health informatics. NTT Research is part of NTT, a global technology and business solutions provider with an annual R&D budget of $3.6 billion. NTT and the NTT logo are registered trademarks or trademarks of NIPPON TELEGRAPH AND TELEPHONE CORPORATION and/or its affiliates. All other referenced product names are trademarks of their respective owners. © 2022 NIPPON TELEGRAPH AND TELEPHONE CORPORATION
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