Focus Financial picks up $575M RIA

Linkup aimed at helping Pettinga Financial cope with ‘onslaught' of new regulations

Jan 12, 2011 @ 9:11 am

By Dan Jamieson

Pettinga Financial Advisors Inc. has joined Focus Financial Partners LLC.

The registered investment advisory firm based in Evansville, Ind., has about $575 million under management.

Terms of the arrangement, which was announced Tuesday, were not disclosed.

The deal brings Focus Financial, a partnership of independent advisory firms, to more than $40 billion in assets across 20 partner firms, and expands its presence in the Midwest, Focus said in a statement.

With the "onslaught of regulatory and compliance matters, I wanted to make sure we have the resources to stay on top," Mark Pettinga, the firm's founder and managing principal, said in an interview.

Focus can help with the regulatory side, he said, and it also brings expertise and capital to the table for acquisitions.

"I'm good at what I do — helping clients with their finances — but I've not had experience in approaching independent business owners and putting attractive packages together for them," Mr. Pettinga said.

Likely acquisition targets would be advisory firms based in Kentucky, Illinois and Indiana that offer a "fiduciary client service," and have assets in the range of $50 million to $500 million, he said.

Pettinga Financial's other principals are Matthew Volkman and Brian Goebel.


What do you think?

View comments

Most watched


Finding innovation in your firm

Adam Holt of AssetMap explains how advisers understand they need to grow, but great innovation may be lurking right under your nose.


How life planning, coaching can arm your clients and help your practice

Advisers are hungry for ways to improve their practice, but how can life planning and coaching help your business? Massachusetts Adviser Abbey Henderson offers her insights

Latest news & opinion

Galvin to propose fiduciary rule for Massachusetts brokers

The secretary of the commonwealth is proposing a fiduciary standard in response to an SEC investment-advice rule he views as too weak.

Summer reading recommendations from financial advisers

Here are some books that will keep you informed and entertained during summer's downtime

4 strategies for Roth conversions

There's never been a better time to do a Roth conversion, and here are several ways to go about it.

Cetera latest to be hit with data breach of personal information

Company is offering clients complimentary, two-year membership to an identity theft protection and credit monitoring service.

Morgan Stanley sees massive growth from giant teams of advisers

Andy Saperstein expects some teams to reach $100 million in annual revenue in the future.


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 It'll help us continue to serve you.

Yes, show me how to whitelist

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


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print