NEW YORK, Feb. 19, 2019 (GLOBE NEWSWIRE) -- Focus Financial Partners Inc. (“Focus”), a leading partnership of fiduciary wealth management firms, today announced that Escala Partners Limited (“Escala”), a wealth management firm headquartered in Melbourne, Australia with offices in Sydney and Perth, has entered into a definitive agreement to join the Focus partnership. The addition of Escala represents a significant step in the expansion of Focus’ international footprint and presence in the ultra-high net worth space. The transaction is expected to close in the second quarter of 2019, subject to customary closing conditions.
After having worked for large global organizations for many years, Escala’s founding partners launched the firm in 2013 with the collective ambition to become the new standard in personalised wealth management within Australia. The firm quickly emerged as a leading fiduciary wealth advisor to ultra-high net worth individuals, families, not-for-profit organizations and institutional investors, providing them with customized investment solutions through a collaborative, team-based approach.
“Our main goal at Escala is to provide our clients with the best wealth management advice possible. To achieve this goal, we are constantly trying to innovate and redefine how to construct the perfect portfolio for each client,” said Pep Perry, CEO of Escala. “Focus impressed us with its track record of success in supporting leading fiduciary wealth management firms through access to capital, value-added resources and best practices. We are looking forward to leveraging Focus’ resources and expertise as we continue our journey of growth and expansion within Australia and beyond.”
“We are delighted to extend our international reach and expand our presence in the ultra-high net worth space through the addition of a new partner firm in Australia. Escala impressed us with their integrity, investment acumen and client-centric approach as well as the entrepreneurial excellence of its management team,” said Rajini Kodialam, Co-Founder and Chief Operating Officer at Focus.
“Regulators across the globe are continuing to focus on, and to increasingly mandate, the provision of fiduciary advice. We believe the heightened regulatory scrutiny and proliferating awareness of the fiduciary standard for wealth management is increasingly driving wealth management professionals and their clients toward objective, fee-based business models consistent with our partner firms' client centric approach. We have identified Australia as an important and attractive market (along with Canada, where we just completed our second transaction, the United Kingdom and Western Europe, and over time Asia) and we expect our philosophy of fiduciary care and nonalignment with product providers to resonate with potential partner firms and their sophisticated clients,” said Rudy Adolf, Founder, CEO and Chairman of Focus.
About Focus Financial Partners
Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”) is a leading partnership of 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 Escala Partners Limited
Founded in 2013, Escala Partners Limited (“Escala”) provides objective advice and investment management solutions to ultra-high net worth individuals, families, not-for-profit organizations and institutional investors. Escala serves its clients through a collaborative, team-based approach focused on the client experience, a relationship built on trust and sustained over time by performance in line with evolving investment objectives. For more information about Escala, please visit https://escalapartners.com.au.
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