Focus Financial Partners, an investor in registered investment advisory firms, is buying a stake in The Planned Approach, a Kansas City, Missouri, RIA managing $266 million.
The acquisition, the terms of which were not disclosed, is expected to close in the fourth quarter.
The Planned Approach was founded in 2002 by Stephanie Guerin and Kelly Hokanson.
Guerin, Hokanson and their team will join Buckingham Strategic Wealth, a St. Louis, Missouri-based RIA firm that's majority-owned by Focus Financial.
Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.
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