Focus Financial Partners noted NorthCoast Asset Management will join his partner firm Connectus Wealth Advisors.
NorthCoast is a registered investment advisory firm based in Greenwich, Connecticut. Connectus is a global consortium of advisers that lists the location of its office as Cincinnati in its Security and Trade Commission ADV form filed in August.
Focus did not disclose the financial terms of the deal, which it says is expected to be finalized in the fourth quarter of this year.
NorthCoast, founded in 1988, has more than $ 2.1 billion in customer assets, according to its Form ADV filed in March.
The company complements its financial planning services with proprietary investment solutions, including an investment program that focuses on capital appreciation with downside protection, and alternative strategies to hedge downside risk during the downturn. the diversification of concentrated equity positions, according to Focus.
“Connectus is the ideal strategic partner with a strong cultural fit that would preserve the independence of our investment process and provide strategic support. We will continue to evolve our differentiated investment strategies and present our capabilities to a wider audience of businesses and their clients. ” Patrick JaminNorthCoast’s chief investment officer said in a statement.
“Connectus will also significantly expand the technology, tools and resources available to us to improve our clients’ bottom line,” he added.
Meanwhile, the deal provides Connectus with NorthCoast’s “unique” investment management capabilities and “significantly” expands its presence in the United States, according to Rajini kodialam, co-founder and COO at Focus.
The deal shows Connectus’ appeal to a wide range of wealth management companies, both at home and abroad, Kodialam said.
Kodialam says the deal also shows how much Focus is leverage its size and expertise to help its network businesses grow.
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