Focus Financial unit takes stake in $2 billion Connecticut RIA
NorthCoast Asset Management will become part of Cincinnati, Ohio-based Connectus Wealth Advisers.
Connectus Wealth Advisers, a Cincinnati, Ohio-based registered investment advisory firm managing $909 million, has agreed to acquire an interest in NorthCoast Asset Management, a Greenwich, Connecticut-based RIA firm managing $2.1 billion.
The transaction, the terms of which were not disclosed, will close in the fourth quarter.
Connectus is more than 75% owned by Focus Financial Partners of New York.
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