NEW YORK, NY / ACCESSWIRE / October 30, 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 Howard Capital Management, Inc. ("Howard Capital"), a registered investment adviser ("RIA") headquartered in Los Angeles, will join forces with Focus partner firm NKSFB, LLC ("NKSFB"), a multifamily office and business management firm also based in Los Angeles. This transaction is expected to close in the fourth quarter of 2020, subject to customary closing conditions.
NKSFB has well-established relationships with many of the world's top entertainers, musicians, producers, athletes and other high net worth individuals. This transaction will enable NKSFB to offer its clients access to comprehensive investment management and financial planning capabilities through Howard Capital, innovatively addressing NKSFB's clients' need for coordinated wealth management and business management services. This will significantly enhance the value of NKSFB's service offering, further reinforcing its leading presence nationally.
"We are excited about joining forces with Howard Capital," said Mickey Segal, Managing Partner of NKSFB. "This transaction will give our clients access to outstanding investment strategies and processes designed to help them manage their entire financial lives, including benefiting from sophisticated investment strategies. The principals at Howard Capital will help us deliver investment solutions tailored to the individual needs of our clients and their families. We look forward to a long and successful relationship."
"Since inception, Howard Capital Management is proud to have provided clients with exceptional service and personalized financial advice," said David Robinson, President of Howard Capital, and Jason Kaplan, Managing Partner of Howard Capital, in a joint statement. "Through the years we have established a great relationship with Mickey and the NKSFB team. We feel confident that they are the right partners for us, as they equally share a deep commitment to provide exceptional solutions for their clients. Our clients are our top priority, and we are excited to continue providing customized advice in helping them to achieve their financial goals."
"We are very pleased that NKSFB and Howard Capital will be joining forces," said Rudy Adolf, Founder, CEO and Chairman of Focus. "This transaction is an excellent example of how the power and scale of our network enable us to add value to our partner firms in highly innovative ways. The artist and entertainer segment is one in which coordinated service offerings are not readily available but can add critical value to clients. This transaction will enhance the client services offered by both NKSFB and Howard and position each firm for accelerated growth. Thinking innovatively, being at the forefront of market trends, and identifying opportunities for our partner firms to grow and better serve their clients are compelling elements of Focus' value proposition."
About Focus Financial Partners Inc.
Focus Financial Partners Inc. 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 they benefit 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 NKSFB, LLC
NKSFB, LLC is a premier multifamily office and business management firm based in Los Angeles, California. NKSFB has one of the largest multifamily office and business management practices in the country, representing many of the world's top entertainers, musicians, producers, athletes, executives, high net worth individuals and entrepreneurs. For more information about NKSFB, please visit www.nksfb.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, including, without limitation, uncertainty surrounding the current COVID-19 pandemic, 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.