Focus Financial Partners said two The cardinal point entities join its network.
Cardinal Point is a wealth management company with operations in the United States and Canada. The entities joining Focus are Cardinal Point capital management and Cardinal Point Wealth Management.
According to Focus, Cardinal Point provides personalized investment, estate, tax and financial planning solutions to high net worth individuals and families. In the United States, the company has offices in Boca Raton, Florida; Irvine, California; and Phoenix, according to its website.
Focus has not disclosed the financial terms of the deal, which it expects to close in the fourth quarter of this year.
Cardinal Point Capital Management had $ 339 million in client assets as of September 2020, according to its Security and Trade Commission Form ADV. Cardinal Point Wealth Management had $ 566 million in client assets as of December 2020, according to its Form ADV.
Jeff sheldon, Founder and CEO of Cardinal Point, says the partnership with Focus will allow the company to maintain its entrepreneurial spirit while providing access to customer and business solutions that will enhance its current capabilities.
Rudy Adolf, founder, CEO and chairman of Focus, said in a statement that the agreement adds diversity to its network and expands its international footprint.
Focus was one of the biggest contractors in the RIA space last year, with seven deals in 2020, according to Echelon partners.
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