Focus Financial files for an IPO valued at $100 million

The RIA aggregator, founded by CEO Ruediger 'Rudy' Adolf (above), has partnered with more than 50 registered investment adviser firms.
MAY 24, 2018

Focus Financial Partners is planning an initial public offering, according to an S-1 form filed with the Securities and Exchange Commission on Thursday. The filing did not contain pricing details, but did value the offering at $100 million. Focus Financial will trade on the NASDAQ stock exchange under the ticker "FOCS." According to the prospectus, Focus Financial has partnered with more than 50 registered investment adviser firms around the United States. "We have achieved this market leadership by positioning ourselves as the partner of choice for many firms in an industry where a number of secular trends are driving RIA consolidation," the form states. "Our partner firms benefit from our intellectual and financial resources, operating in a scaled business model with aligned interests, while retaining their entrepreneurial culture and independence." Founded in 2006 by CEO Ruediger "Rudy" Adolf, Focus Financial brought in $662.9 million of revenue in the 2017 calendar year and had a net loss of $48.4 million. In the first three months of 2018, revenue was $196.2 million and its net loss was $12.1 million. The company says 90% of revenues are fee-based and recurring in nature. The company listed Goldman Sachs, BMO Capital Markets, Bank of America Merrill Lynch, RBC Capital Markets, KKR and SunTrust Robinson Humphrey as join book-running managers. Raymond James, William Blair, and Keefe, Bruyette & Woods were also named as co-managers.

Latest News

Gen Z and millennial rollover candidates are shifting - and eyeing the exit
Gen Z and millennial rollover candidates are shifting - and eyeing the exit

New Escalent research finds younger, more diverse DC plan participants are open to rollovers - but increasingly prefer outside firms.

Wealthy investors eye advisor guidance as 2026 midterms approach
Wealthy investors eye advisor guidance as 2026 midterms approach

UBS finds millionaire investors are more optimistic than before 2024 but are actively repositioning portfolios ahead of November 3.

Trump Accounts auto-enrollment leaves work to do, says Baird expert
Trump Accounts auto-enrollment leaves work to do, says Baird expert

Auto-enrollment has landed for 60 million children, but Baird planning director says key questions on rollovers and Roth conversions remain open.

AI surveillance tool brings prediction markets under compliance watch
AI surveillance tool brings prediction markets under compliance watch

MyComplianceOffice's AI-assisted surveillance links employee chats on Slack and Telegram with prediction market trades as Wall Street tightens rules

Advisor moves: LPL nabs $1B Northwestern team in Seattle
Advisor moves: LPL nabs $1B Northwestern team in Seattle

Elsewhere, Raymond James absorbs a family-run practice from Commonwealth into its independent channel, while RBC welcomes a father-son tandem formerly from UBS.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

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