NEW YORK, NY / ACCESSWIRE / August 26, 2020 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that InterOcean Capital, LLC ("InterOcean"), a Chicago-based registered investment adviser ("RIA"), has entered into an agreement to join the Focus partnership. The transaction is expected to close in the fourth quarter of 2020, subject to customary closing conditions.
Founded in 2005, InterOcean is a leading investment management and advisory firm serving clients nationally. The firm provides personalized wealth management services to high net worth individuals and families, as well as institutions, with an emphasis on long-term stewardship in addressing its clients' needs. InterOcean is known for the strength of its hybrid model: combining a differentiated approach to asset allocation and investment management with sophisticated financial planning capabilities. The firm will continue to be led by its co-founders, Rege Eisaman, Mark Carr and Jeffrey Camp, along with other leaders including Robin Patinkin, David Janczewski, Erik Larson, Jason Buck, Forrest Sumlar and Nick Rounds.
"We are excited to partner with Focus as we continue to grow our business and provide our clients with exceptional personalized advice and service," said Rege Eisaman, Chief Executive Officer & Chief Investment Officer of InterOcean. "This partnership will also give us access to the growth capital and other resources that will help us accelerate the expansion of our business."
"We are honored to have InterOcean join the Focus partnership and extend a warm welcome to their team," said Rudy Adolf, Founder, CEO and Chairman of Focus. "This will be our third partner firm acquisition and our eleventh transaction year-to-date, and we expect to announce additional transactions in the coming weeks as our M&A momentum increases. InterOcean is a rapidly growing firm that has built a leading position in the RIA industry through delivery of outstanding investment management and financial planning expertise. They have a young, dynamic management team with a strong growth mindset and will benefit substantially from access to our expertise and resources as they increase their footprint in the important Midwest and Southeast markets. Central to the success of the Focus model is that our partner firms maintain their independence while benefiting from our scale and resources to grow their businesses, serve their clients and help them plan for the future."
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SOURCE: Focus Financial Partners