Focus Financial Partners, a partnership of advisory firms, reported net income of $3.9 million for its fiscal third quarter ended Sept. 30. This compares with net income of $0.4 million in the comparable 2019 period.
GAAP basic and diluted net income per share attributable to common shareholders was $0.03, unchanged from the same quarter last year, the company said in a release.
The company's quarterly revenue was $331.5 million, up 4.7% or $14.8 million from the 2019 third quarter. The primary driver of the increase was revenue growth from existing partner firms, driven largely by higher wealth management fees. The year-over-year quarterly organic revenue growth rate was 2.4%.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
