Horan Capital Management, a registered investment adviser managing $723.4 million in Hunt Valley, Maryland, is being purchased by Connectus Wealth Advisers, a British-based international consortium of advisory firms that is owned in part by Focus Financial.
According to a statement, the deal will give Connectus a presence in the mid-Atlantic region.
The transaction is expected to close later this month.
The deal is Focus Financial's 22nd M&A transaction this year, the statement said. Earlier today, Focus announced that it had made an investment in in Kavar Capital Partners, a Leawood, Kansas-based RIA managing $682 million.
Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
Celebrity endorsements, $500M in claimed assets, and a state regulator stepping in.
“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.
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