NEW YORK, NY / ACCESSWIRE / July 24, 2020 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Focus partner firm LaFleur & Godfrey LLC ("L&G") will acquire Daniel McAdams' business and McAdams, an investment management services professional, will become a Partner Emeritus of L&G. The transaction is expected to close in the third quarter of 2020, subject to customary closing conditions.
McAdams currently provides comprehensive investment management and financial planning services. Through this transaction L&G, which is based in Grand Rapids, Michigan, will increase its presence in West Michigan and McAdams' clients will gain access to L&G's significant investment management, operational infrastructure and extensive planning resources. In his new role at L&G, McAdams will assist in the transition of his business to L&G and work with the L&G business development team.
"We are thrilled to welcome Dan's business to the L&G family," said Dan Van Timmeren, Partner and Senior Portfolio Manager at L&G. "We believe our holistic wealth management and investment focus, together with Dan's reputation and relationship with his clients, will enable us to ensure that Dan's clients continue to be well served."
"I am very excited for this transaction, as I know that my clients will benefit from having access to L&G's deep bench of talent, investment acumen, planning experience and robust infrastructure," said McAdams. "I hold the L&G team in high regard and have consistently been impressed by their commitment to outstanding client service."
"We are pleased to announce the addition of Dan McAdams' business to L&G," said Rudy Adolf, Founder, CEO and Chairman of Focus. "This transaction will enable L&G to offer their holistic wealth management and investment principles to new clients in West Michigan. Our ability to provide access to capital and extensive M&A expertise is instrumental to helping our partner firms broaden their capabilities and accelerate the growth of their businesses."
About Focus Financial Partners Inc.
Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus") is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while benefitting from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.
About LaFleur & Godfrey LLC
Tracing its origins back to 1987, LaFleur & Godfrey LLC ("L&G") is based in Grand Rapids, Michigan and is one of the largest registered investment advisers in West Michigan. L&G offers investment management and financial planning services to high net worth clients, and the firm's investment philosophy is driven by precise portfolio customization for each client. For more information about L&G, please visit https://www.lafleurgodfrey.com/.
Cautionary Note Concerning Forward-Looking Statements
This release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.
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SOURCE: Focus Financial Partners Inc.