NEW YORK, NY / ACCESSWIRE / October 30, 2020 / 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 Confluence Wealth Management LLC ("Confluence"), a registered investment adviser located in Portland, Oregon, will join Focus partner firm Buckingham Strategic Wealth, LLC ("Buckingham" or "Buckingham Strategic Wealth"), subject to customary closing conditions.
Confluence offers comprehensive financial planning and wealth management services and serves a diverse group of individual and institutional clients. Upon closing of this transaction, Confluence, under CEO Kathleen Kee's leadership, will operate under the Buckingham name. The firm will establish Buckingham's new Portland office, further expanding its nationwide presence and enhancing Buckingham's presence in the Pacific Northwest region.
"Confluence is well respected in the Portland area for its wealth management and advanced financial planning capabilities. We are thrilled that our two teams will be joining forces, building on our collective strengths and shared philosophy of evidence-based investing," said Justin Ferri, Chief Operating Officer of Buckingham. "Confluence will enable us to expand the number of clients we serve in the Pacific Northwest as we continue strengthening our presence in the region. Access to Focus' growth capital and M&A expertise have been integral to helping us accelerate our growth through strategic mergers like this one."
"We are pleased that Confluence will be joining Buckingham," said Rudy Adolf, Founder, CEO, and Chairman of Focus. "Confluence will add talented advisors and an impressive roster of clients to the Buckingham platform in the important Pacific Northwest wealth management market. Confluence's clients and advisors will benefit from Buckingham's scale and broad resources, especially its financial planning expertise, as well as the strong cultural alignment between the two firms.
This transaction is also further evidence of how we are capitalizing on secular industry trends. We have a large, diverse group of partner firms that offer opportunities to RIA founders and teams seeking to increase their focus on client service and business development, while reducing the time they spend on operational activities. Our partners are leaders in the independent wealth management space and serve sophisticated clients. They benefit from our scale and substantial resources to offer state-of-the-art capabilities and the integrated, highly personalized services that their clients expect."
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SOURCE: Focus Financial Partners Inc.
10/30/2020 EQS Newswire / EQS Group AG