Focus invests in its first Canadian advisory firm

Partnering with Montreal-based Dorchester Wealth Management

Apr 13, 2015 @ 2:11 pm

By Srividya Kalyanaraman

+ Zoom

Focus Financial Partners has taken a stake in an 850 million dollar Canadian ($675 million) asset wealth manager in Montreal, representing its first investment in that country.

The firm is partnering with Dorchester Wealth Management, which was founded in 1928 in Montreal and serves Canadian, American and overseas clients with a team of nine investment professionals. The collaboration will give Dorchester access to Focus' merger and acquisition expertise and capital for growth.

(More: Focus Financial invests in $600 million wealth manager)

Focus Financial Partners works with independent fiduciary wealth management firms with the partner firms maintaining their entrepreneurial independence while having access to Focus' advisory services, resources and best practices. With more than $325 million in annual revenue, Focus has a presence in the U.S., the United Kingdom, and now Canada.

The Dorchester deal is part of Focus' planned expansion into other markets where they see the partnership model being successful.

“Our partnership model is new to Canada and we hope to create a market leadership position as we did in the U.S.,” said Rudy Adolf, founder and chief executive of Focus. “We hope to help Dorchester with geographical expansion and other advisory services like succession planning.”

“We are excited to partner with Focus, which shares our commitment to provide client-centric and unbiased wealth management offering,” said Robert Bard, president of Dorchester in a news release. “Focus brings greater resources and expertise in certain aspects of our business while still allowing us to maintain our boutique client service environment and investment excellence.”

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