Focus adds Midwest firm to the fold

Focus Financial Partners announced today that LaFleur & Godfrey Inc., a $400 million-in-assets advisory firm based in Grand Rapids, Mich., has joined the Focus partnership.
LaFleur & Godfrey was founded in 1987 and is led by its two principals, Richard Godfrey and Daniel VanTimmeren. The firm provides money management services using individual securities and fixed-income ETFs, as well as some financial planning services, to more than 200 clients who are predominately located in the Midwest.
“We’re really interested in growing,” Mr. VanTimmeren said. “We want to be a significant presence” in Western Michigan.
Mr. VanTimmeren, 51,  said LaFleur & Godfrey has never done any marketing and was looking for Focus to help expand its name as well as consult on potential acquisitions. 
With a lot of smaller advisory firms in LaFleur & Godfrey’s market, “we’re sure there will be [acquisition] opportunities that come about,” he said.
The firm is also thinking about succession.
“Focus can help us when Rick [Godfrey], who’s 68, is looking to transition into retirement,” Mr. VanTimmeren said.
LaFleur & Godfrey was co-founded by Mr. Godfrey and James LaFleur, who is now retired. Both men spent their careers in the bank trust environment before starting their own firm.
Terms of the transaction were not disclosed.
Focus partner firms typically enter into cash-flow sharing arrangements with Focus, in exchange for capital and support services.