Focus Financial Partners, a partnership of advisory firms, reported net income of $3.9 million for its fiscal third quarter ended Sept. 30. This compares with net income of $0.4 million in the comparable 2019 period.
GAAP basic and diluted net income per share attributable to common shareholders was $0.03, unchanged from the same quarter last year, the company said in a release.
The company's quarterly revenue was $331.5 million, up 4.7% or $14.8 million from the 2019 third quarter. The primary driver of the increase was revenue growth from existing partner firms, driven largely by higher wealth management fees. The year-over-year quarterly organic revenue growth rate was 2.4%.
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
FINRA has been focused on firms and their use of social media for several years.
RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
