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 leadership changes coming in June, which also include wealth management and digital unit heads, come as the firm pushes to offer more comprehensive services.
Strategist sees relatively little risk of the university losing its tax-exempt status, which could pose opportunity for investors with a "longer time horizon."
As the next generation of investors take their turn, advisors have to strike a fine balance between embracing new technology and building human connections.
IFG works with 550 producing advisors and generates about $325 million in annual revenue, said Dave Fischer, the company's co-founder and chief marketing officer.
Five new RIAs are joining the industry coalition promoting firm-level impact across workforce, client, community and environmental goals.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
