NEW YORK, NY / ACCESSWIRE / December 31, 2021 / Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”), a leading partnership of independent trust wealth management companies, today announced that Provident Financial Management (“Provident”), a multi- family office and corporate management with offices in Santa Monica, Woodland Hills and San Francisco, CA, as well as Nashville, TN, and London & Co., LLP (“London”), a tax, accounting and Los Angeles, CA-based business management firm have entered into definitive agreements to join the Focus partnership as Focus’s new partner firm, which will be called Provident Financial Management. These transactions are expected to close simultaneously this year, subject to customary closing conditions.
Founded in 1982 by Barry Siegel and Bill Vuylsteke, Provident offers comprehensive concierge and business management services to a diverse clientele including musicians, artists, actors and high net worth individuals. London, which is headed by Philip London and Scott Adair, provides a full range of accounting services, including tax and tour accounting, as well as business management services to a range of clients and artists and businesses. non-artists. London’s service offerings will complement and enhance those of Provident, while further diversifying Provident’s customer base. Joining Provident will ensure continuity for the London team and clients.
The combined company will be led by Barry, Bill, Philip and Scott, as well as a group of CEOs from Provident including Ivan Axelrod, Pamula Johnson Solar, Bo Gardner, Jeffrey Turner, Joni Soekotjo, Dawn Nepp, Lisa Ferguson, Shelley Venemann, Larry Eibund, Barbara Karol and Debra (“Debbie”) Dez.
âOur main goals in finding a strategic partner were to ensure the continuity of our well-established brand, while also having access to additional resources to help us better serve our customers and grow our business,â said Barry Siegel, partner of Provident. âFocus’s in-depth understanding of the multi-family office and corporate management space made it an obvious choice,â added Bill Vuylsteke, Partner at Provident. “We also greatly appreciated Focus’s M&A expertise in helping us identify a company of London caliber.”
âScott and I are very happy to join forces with Barry, Bill and the entire team at Provident,â said Philip London, London Co-Managing Member. “We are confident that our customers will benefit from our ability to leverage the Provident platform and promote continuity of customer service.”
âWe are delighted to welcome Provident and London to Focus as a new partner firm. The Provident and London teams exemplify the dynamic and entrepreneurial mindset we seek from our partners, âsaid Rudy Adolf, Founder, CEO and Chairman of Focus. âWhile we’ve seen these companies grow their businesses over the years, their well-established customer relationships and focus on exceptional service levels are clear differentiators. The combined company of Provident and London further expands our presence in the multi-family office and business management sector, while adding complementary expertise to the Focus partnership. These transactions are also an example of our ability to think creatively. and to identify opportunities for companies even before they join us, positioning them to grow and better serve their customers.
We are concluding a record year of M&A activity, underscoring the attractiveness of our value proposition and the scale advantages we offer to our partner companies around the world. In 2021, we added 14 new partners and 24 mergers, including 8 mergers for Connectus, for a total of 38 deals. We enter 2022 with excellent momentum and are very excited about the prospects for the future growth of our business. “
About Focus Partenaires Financiers inc.
Focus Financial Partners Inc. is a leading partnership of independent trust wealth management companies. Focus provides access to best practices, resources and continuity planning for its partner firms that provide individuals, families, employers and institutions with comprehensive wealth management services. Focus’s partner companies maintain their operational independence, while benefiting from the synergies, scale, economy and best practices offered by Focus to achieve their business objectives. For more information on Focus, please visit www.focusfinancialpartners.com.
About the financial management of pensions
Provident Financial Management is a leading corporate management firm with a well-established brand and a strong presence in key markets with three offices in California and an office in Nashville, TN. The company provides family concierge services including business management, comprehensive tax planning and touring accounting to musicians, artists, actors and high net worth individuals. For more information on Provident, please visit http://www.providentfm.com/.
About London & Co., LLP
London & Co., LLP is a leading business management and family office firm providing a full range of business management and accounting services including tax and tour accounting. The company provides services to artists, performers, producers, business owners, record labels and various businesses. For more information on London, please visit http://www.londonco.com/.
Caution regarding forward-looking statements
This press release contains certain forward-looking statements that reflect Focus’s current views regarding certain current and future events. These forward-looking statements are and will be subject to numerous risks, uncertainties and factors relating to Focus’s operations and business environment, including, without limitation, the uncertainty surrounding the current COVID-19 pandemic, which may lead to significantly different future events. of these forward-looking statements or anything implied therein. All forward-looking statements contained in this press release are based on information available to Focus as of the date of this press release. Focus does not undertake to publicly update or revise its forward-looking statements, even if experience or future changes clearly indicate that the statements expressed or implied therein will not be made. Additional information on risk factors that may affect Focus can be found in the documents filed by Focus with the Securities and Exchange Commission.
Investor and media contacts
Senior Vice President
Head of Investor Relations & Corporate Communication
Focus Financial Partners
Phone. : + 1-646-813-2909
Investor Relations and Corporate Communication
Focus Financial Partners
Phone. : + 1-646-560-3999
THE SOURCE: Focus Financial Partners inc.
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