NEW YORK, Feb. 15, 2019 (GLOBE NEWSWIRE) -- Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that it has partnered with Prime Quadrant, a multi-family office based in Toronto, Canada. This transaction highlights Focus’ strategic expansion, both in international markets, where regulatory and other trends are increasingly fostering fiduciary independent advice, as well as in the independent ultra-high net worth advisory space, where Focus continues to be a leader.
Founded in 1998 as a single-family office by serial entrepreneur and financial services innovator Ian Rosmarin, Prime Quadrant has expanded and evolved over time into a holistic multi-family office firm serving over 100 ultra-high net worth families in Canada. The firm has built a robust platform for its clients, providing investment and wealth management consulting services with a focus on manager selection and direct alternatives. Under the leadership of its partners, Prime Quadrant has experienced strong growth and become well known in Canada as a leading firm for ultra-high net worth advisory. Notably, the annual Prime Quadrant Conference brings together over 400 Canadian investors and single-family offices, along with some of the biggest names in the investment world.
“Providing best-in-class investment decisions and client service has always been our mission at Prime Quadrant. When we began looking for a strategic partner to help us get to the next level, Focus quickly emerged as the right match. With access to Focus’ value-added resources and capital, we can share knowledge with some of the leading ultra-high net worth firms in the industry and secure a path to growth while providing even better resources to our clients,” said Mo Lidsky, CEO of Prime Quadrant.
“Prime Quadrant is held in high regard among ultra-high net worth investors because of their dedication to providing great value to their clients and their strong growth as a business. We are impressed by their entrepreneurial team and culture and are thrilled to work with them to achieve that next level,” said Rajini Kodialam, Co-Founder and COO at Focus. “Canada is one of the international markets we are most excited about, considering its need for more independent advisors and the absence of a market leader in this space. We expect Prime Quadrant to be a great platform for additional M&A activity in the ultra-high net worth independent space in Canada. More broadly, we see our international opportunities as an important component of our growth strategy – as a source of further diversification and given the exciting secular trends in many markets which are aligned with our business model.”
About Focus Financial Partners
Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”) is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus Financial Partners, please visit www.focusfinancialpartners.com.
About Prime Quadrant
Prime Quadrant is one of Canada’s leading investment research and consulting firms and helps high-net-worth individuals make the best investment decisions and support all their wealth management needs. Prime Quadrant and its team of talented professionals leverage a unique investment model focused on empowering clients to reach their long-term goals. For more information about Prime Quadrant, please visit http://www.primequadrant.com.
Cautionary Statement Concerning Forward-Looking Statements
This release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.
Investor and Media Contact Information
Steve Calk or Sam Gibbons Tel: (646) 561-3226
FOCS@alpha-ir.com