Focus invests in its first Canadian advisory firm

Partnering with Montreal-based Dorchester Wealth Management

Apr 13, 2015 @ 2:11 pm

By Srividya Kalyanaraman

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.”

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

INTV

Why some retirement plan advisers think Fidelity is invading their turf

InvestmentNews editor Frederick P. Gabriel Jr. and reporter Greg Iacurci talk about this week's cover story that looks at whether Fidelity Investments is stepping on the toes of retirement plan advisers.

Latest news & opinion

Broker protocol: Indecision over recruiting agreement is rampant

Ruckus over recruiting agreement has even wirehouse lifers wondering if it's time

SEC Chairman Jay Clayton outlines goals for a new fiduciary standard

Rule should provide clarity on role of adviser, enhanced investor protection and regulatory coordination.

Advisers bemoan LPL's technology platform change

Those in a private LinkedIn chat room were sounding off about fears the independent broker-dealer will require a move to ClientWorks before it is fully ready.

Speculation mounts on whether others will follow UBS' latest move to prevent brokers from leaving

UBS brokers must sign a 12-month non-solicit agreement if they want their 2017 bonuses.

Maryland jumps into fiduciary fray with legislation requiring brokers to act in best interests of clients

Legislation requires brokers to act in the best interests of clients.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print