Focus Financial Partners has made an investment in Kavar Capital Partners, a registered investment adviser managing $682 million that is headquartered in Leawood, Kansas.
The transaction, the details of which were not disclosed, is expected to close later this month.
Kavar was founded in 2011.
The Cincinatti firm reportedly missed multiple signs that the errant advisor misappropriated $728k from clients to fund his gambling, pay personal expenses, and repay other investors.
“There was also cash moving off the sidelines,” one Merrill executive noted.
Wealth managers watch as Apple and NVDA battle it out for the title of the world's largest company.
The PE-backed wealth giant is welcoming the veteran with over 20 years of experience to help lead its next phase of growth.
Broadridge industry survey unpacks sentiments and gaps around active ETFs, alts, indexing solutions, and AI adoption.
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