Focus Financial is ringing in the new year by marking a major expansion to its internal consolidation strategy.
On Monday, Focus Financial Partners announced Cardinal Point Capital Management as its latest wealth hub, underscoring its commitment to Canada as a growth market within the North American wealth management sector.
Founded in 2009 and based in Toronto, Cardinal Point specializes in cross-border wealth management, offering investment, estate, tax, and financial planning services to high-net-worth individuals and business clients in the US and Canada. The firm reported managing approximately CAD 3.1 billion in regulatory assets as of September 30, 2024.
Jeff Sheldon, co-founder and CEO of Cardinal Point, noted how his firm has grown rapidly alongside the wealth industry at large since its 2021 acquisition by Focus.
“While we have doubled our regulatory assets under management over that time, added new team members, and successfully launched our business-management division, which caters to professional athletes, we recognize the increasing importance of firms taking proactive steps to innovate and continue providing clients with best-in-class capabilities and expertise,” Sheldon said in a statement Monday.
Cardinal Point will now serve as a hub firm for Focus in Canada, enabling it to take on a broader leadership role in the region. Michael Nathanson, CEO of Focus Financial Partners, emphasized the significance of Cardinal Point’s expertise.
“Cardinal Point has a differentiated value proposition in the Canadian market as one of the only full-service, cross-border wealth management firms. With exceptional leadership and client-service teams, Cardinal Point is well positioned to lead Focus’ consolidation and expansion efforts in Canada,” he said.
Cardinal Point joins four other hub firms within Focus’ network including The Colony Group, Kovitz Investment Group Partners, SCS Financial, and Gelfand, Rennert and Feldman, the latter of which is also the first business management hub at Focus.
Chuck Roberts and Stifel have been facing scrutiny due to sales of structured products and structured notes.
What will financial advice look like 20 years from now? Evan Vladem explores how AI may transform wealth management while reinforcing the enduring value of human guidance, trust, and empathy.
The Boston deal is set to push the PE-backed consolidator past $187 billion amid a broad RIA M&A slowdown and a potential shift in its ownership.
Anguilla-based affiliates may have been shams, the court said
Advisors with clients who own second homes in New York City face fresh uncertainty as the city seeks a stay and plans an appeal.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
