RIA moves: Focus Financial, Cerity Parners notch firsts with latest additions

Focus Financial Partners and Cerity Partners are extending their reach in new directions, each marking a first in their respective growth strategies.

On Thursday, Focus said its Focus Partners Wealth division has agreed to acquire Los Angeles-based Churchill Management Corporation, marking the first external deal since the New York-based RIA behemoth's rebranding in January.

The transaction, set to close in the third quarter pending customary approvals, is projected to add roughly $9.4 billion in regulatory assets under management as of March 31.

Founded in 1963, Churchill offers investment management and financial planning to clients nationwide and employs a nationwide team of advisors and business development staff. Churchill will continue to operate as a standalone division before transitioning fully into the Focus Partners Wealth brand.

“The Churchill team … combine a very rare mindset of high growth and progress forward with a high standard of care,” Adam Birenbaum, chief executive of Focus Partners Wealth, said on Thursday.

Randy Conner, president of Churchill, said, “Throughout our more than 60 years of serving clients, our core principle has been to meet and exceed our clients’ financial goals using a comprehensive, multi-strategy approach to investing.”

The acquisition comes as Focus Financial continues to refine its leadership structure.

Early this month, it appointed Zinovy Iosovich to the newly created position of chief growth officer, initially tasked with scaling growth efforts across Focus Partners Wealth. More recently, Mark Israel, previously executive vice president for technology and transformation at Fisher Investments, joined as chief technology officer. 

Meanwhile, Cerity Partners announced its entry into the Arizona market, adding advisors Chad Wing and Dustin Brutton as partners in a newly launched Scottsdale office. The pair will be joined by four team members and had previously led operations at Canopy Wealth Management Arizona.

Previously with Northwestern Mutual, the Canopy Wealth team ended that affiliation to launch their own RIA in 2021. They bring together more than 50 years of combined professional experience.

“Our focus has always been taking great care of our clients – helping them manage their financial resources, grow their wealth, and navigate life’s financial complexities with confidence,” said Wing.

Their latest move marks Cerity’s first expansion into the Southwest, reinforcing a strategy of pairing regional expansion with seasoned advisory teams that focus on high-net-worth individuals, families, and business owners.

“Entering the Arizona market represents an exciting step in Cerity Partners’ growth journey,” said Claire O’Keefe, partner and head of partner development at the firm.

Prior to adding the Canopy Wealth team, Cerity Partners extended its reach in the East Coast as it acquired Cook Wealth, a $529 million RIA firm in North Carolina.