Focus is pressing on with its new growth direction as one of its primary wealth hubs unveils its next external acquisition.
Focus Partners Wealth has announced plans to acquire David Wealth Management, a Virginia-based RIA with roughly $239 million in assets under management, as part of its continued expansion strategy.
The acquisition, disclosed on Monday by Focus Financial Partners, is expected to close in the third quarter of 2025, pending customary conditions.
It marks the second external acquisition for Focus Partners Wealth since its rebranding earlier this year.
It's also a whisper of a transaction when one considers the first May deal for Churchill Management Corporation, a Los Angeles-based firm with $9.4 billion in client assets.
David Wealth, based in Fairfax and led by founder Jim David since 2012, expands Focus Partners Wealth’s footprint in the greater Washington, DC region – an area the firm identifies as a key market for growth.
“I have known the team at Focus Partners Wealth for many years, and the caliber of their people made them an ideal partner,” David said in the Monday statement. “As a multi-generational firm, we are deeply committed to delivering exceptional service to the families who entrust us with their financial futures.”
Focus Partners Wealth, a rebranded entity formed in January through the merger of The Colony Group and Buckingham Wealth Partners, now operates under a unified platform.
The firm is one of the main hubs within Focus Financial Partners, a private equity-owned consortium of fiduciary wealth managers that was taken private by Clayton, Dubilier & Rice in 2023.
“M&A remains a key strategic priority as we continue to bring together exceptional firms that share our commitment to delivering greater value and service to clients and their advisors,” said Adam Birenbaum, president of Focus Financial Partners and CEO of Focus Partners Wealth.
Focus Partners Wealth serves clients in all 50 states across nearly 100 locations.
With the addition of David Wealth, the firm continues its trajectory toward expanding its regulatory assets under management, which is poised to reach approximately $140 billion, making it the largest domestic business within the Focus Financial network.
Recent changes in leadership underscore its push for growth and operational scale. In May, Focus Partners Wealth named Zinovy Iosovich as chief growth officer.
Last month also saw Fisher Investments alum Mark Israel stepping in as chief technology officer for the broader Focus organization.
The acquisition of David Wealth Management further reflects Focus’s dual-track strategy of bolstering national coverage while integrating independent firms that align culturally and operationally.
Terms of the deal were not disclosed.
A $141M judgment and a federal asset freeze collide over one shrinking pool
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
