Focus Financial Partners Inc. has acquired a stake in ARS Wealth Advisors, a registered investment advisory firm managing $704 million in St. Petersburg, Florida.
The transaction, details of which were not disclosed, is expected to close in the third quarter.
ARS Wealth, founded in 1997, is led by CEO Tony Anderson and partners Mike Murray and Drew Swenson.
The deal is the second major announcement for the firm in the last week.
The firm's trading index shows activity remains muted by historic standards.
Close race for the White House makes even hedging tricky.
Investors pulled almost $600M from BlackRock, Fidelity funds.
ChatGPT parent has begun preliminary talks with regulators.
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