NEW YORK, Feb. 19, 2019 (GLOBE NEWSWIRE) -- Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, today announced that definitive agreements have been entered into under which MacGuire, Cheswick & Tuttle Investment Counsel LLC (“MacGuire Cheswick & Tuttle”) will join existing Focus partner firm Crestwood Advisors Group, LLC (“Crestwood”), and Anthony Smith Advisors, Inc. (“Anthony Smith Advisors”) will join existing Focus partner firm Patton Albertson Miller Group, LLC (“Patton Albertson & Miller”). Both transactions are expected to close in the second quarter of 2019, each subject to customary closing conditions.
- MacGuire, Cheswick & Tuttle Investment Counsel LLC is an independent investment management firm based in Darien, Connecticut. Founded in 2009 by Kevin A. MacGuire, Susan C. Brewer, and David P. Tuttle, MacGuire Cheswick & Tuttle provides investment management services to high net worth individuals and families, and employs a similar investment style to Crestwood. Following this transaction, Crestwood expects to provide additional portfolio and wealth management solutions to MacGuire Cheswick & Tuttle’s clients, and ultimately serve as the succession plan for the MacGuire Cheswick & Tuttle partners. The transaction will also provide Crestwood with a physical presence in Fairfield County, Connecticut.
- Anthony Smith Advisors, Inc. is an independent wealth management firm based in Atlanta, Georgia. Founded in 1994 by Anthony “Tony” Smith, Anthony Smith Advisors is a fee-only firm providing financial planning and wealth management services. This transaction will enhance Anthony Smith Advisors’ service offering through access to Patton Albertson & Miller’s deep bench strength and enable the team to continue to build inter-generational relationships with clients. This combination will also strengthen Patton Albertson & Miller’s foothold in the greater Atlanta region, further expanding the firm’s presence in the Southeast region and its M&A capabilities.
“We are pleased to announce the first M&A transactions for each of Crestwood and Patton Albertson & Miller since they joined the Focus partnership,” said Rudy Adolf, Founder, CEO and Chairman of Focus Financial Partners. “MacGuire Cheswick & Tuttle provides Crestwood the opportunity to partner with three experienced and like-minded senior advisors, and provides a presence in the very attractive Fairfield County market. Anthony Smith Advisors brings a talented group of financial advisers with deep expertise in complex tax and estate matters. Clients always benefit from deeper knowledge and a broader range of service offerings. Supporting our firms’ entrepreneurial visions and devotion to clients is our mission at Focus. Providing access to capital and value-add resources allows our partners to execute these visions and continually improve client outcomes.”
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 they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus Financial Partners, please visit www.focusfinancialpartners.com.
About Crestwood Advisors Group, LLC
Crestwood Advisors Group, LLC (“Crestwood”) is an independent investment management and wealth advisory firm headquartered in Boston, Massachusetts. Crestwood offers a suite of investment management and wealth management services to high-net-worth individuals and families located across the country. For more information about Crestwood, please visit https://crestwoodadvisors.com.
About Patton Albertson Miller Group, LLC
Patton Albertson Miller Group, LLC (“Patton Albertson & Miller”) is an independent, fee-only wealth management and advisory firm headquartered in Chattanooga, Tennessee, with additional locations in Macon and Atlanta, Georgia. Patton Albertson & Miller offers a comprehensive range of wealth management services and financial planning to high-net-worth individuals and families across the country. For more information, please visit https://www.pattonalbertsonmiller.com.
Cautionary Statement 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.
Investor and Media Contact Information
Steve Calk or Sam Gibbons
Tel: (646) 561-3226
Source: Focus Financial Partners Inc.