Focus continues M&A strategy with Homan-Buckingham deal

Focus Financial Partners, the private equity-backed RIA network with 2,700 wealth-management-focused principals and employees, is taking another pivotal step on its inorganic growth strategy.

Focus announced today that Homan Wealth Advisors, an independent firm based in Omaha, will join Buckingham Strategic Wealth, which combined with The Colony Group to form a single entity in May. Under that deal, Buckingham is operating under the Colony name, and the newly formed RIA arising from the two represents nearly 1,200 employees with more than 90 office locations nationwide.

The Homan-Buckingham transaction set to finalize in the fourth quarter of 2024, subject to regulatory approval.

Homan Wealth Advisors has had a longstanding relationship with Buckingham Strategic Partners, an affiliated service platform that supports advisors in managing complex financial planning needs. Richard “Rick” Homan, president and founder of Homan Wealth Advisors, sees the merger as a natural fit.

“As our clients know, for over 20 years we have leveraged the BSP team’s resources, experience, and knowledge to handle our back-office duties,” Homan said in a statement Friday. “Joining Buckingham Strategic Wealth was a natural next step... to further support our clients, both now and in the future.”

Adam Birenbaum, who rose up as CEO of the combined Buckingham/Colony firm, also welcomed the addition of Homan’s team, citing their “rich history and deep connection” since 2003.

“It’s exciting to officially welcome [Homan Wealth Advisors] to our community,” Birenbaum said. "We look forward to helping the team serve their clients and grow our presence in the Omaha area."

The Buckingham-Homan deal follows closely on the heels of another announcement from Focus revealing a series of significant legal appointments.

On Monday the firm announced that Greg Woods, formerly with LPL Financial, will join Focus as general counsel on November 19, succeeding Russell McGranahan, who left after a nine-year tenure. CEO Michael Nathanson expressed confidence in Woods’s leadership, stating, “Greg Woods is an exceptional lawyer, and we are pleased to have him assume leadership of our team.”

To support Woods, Focus made three promotions within its ranks of legal experts and leaders. It expanded Anil Abraham's remit to include his new role as chief risk officer, while likewise broadening Amrita Nangiana and Adam Karasik's functions to elevate them as co-deads of corporate legal. Each has a deep background in securities and mergers and acquisitions, positioning the legal team to align closely with Focus’s strategic growth objectives.

Focus has been firing on all cylinders with its internal merger initiative all this year, as part of a wealth hub strategy formulated and executed following its $7 billion take-private acquisition by Clayton Dubilier & Rice and Stone Point Capital in September 2023.