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 group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.
The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC’s Aspire Holdings exited their investments.
The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”
The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
