Focus Financial Partners has entered the next phase of its internal consolidation strategy with the selection of its newest major wealth hub.
The firm has revealed Gelfand, Rennert & Feldman, a business management and multifamily office firm headquartered in Los Angeles, has become the fourth hub under its evolving intra-network merger strategy.
With roots stretching back more than half a century, GR&F offers business management, bookkeep, international tax, and other specialized services to its clients in entertainment, including music, television, and film, as well as athletes, executives, influencers, and high-net-worth individuals.
The firm also represents another significant milestone for Focus as it marks the PE-backed platform's first-ever business management hub, with additional locations in New York City, White Plains, Wilmington, San Rafael, Encino, Nashville, Boston, and London.
“In today’s dynamic landscape, in which clients are asking for a broader suite of services and deeper expertise, it’s increasingly important for firms to take proactive steps to bolster their offerings,” Tyson Beem, CEO of GR&F said in a statement on Friday.
Michael Nathanson, CEO of Focus, described GR&F as a “recognized leader” in the multifamily office space with a prominent client base and a talented leadership team.
“This next chapter as a hub will enable GR&F to expand their reach, and their expertise will be an essential piece of the Focus hub infrastructure,” Nathanson said.
Following its take-private acquisition by Clayton Dubilier & Rice and Stone Point Capital in September last year, Focus Financial has spent significant time and resources on streamlining its platform through an internal consolidation with several wealth hubs.
Apart form GR&F, Focus's other wealth hubs include The Colony Group – which absorbed GYL Financial Synergies in early November – Kovitz Investment Group Parners, and SCS Capital Management.
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