NEW YORK, March 01, 2019 (GLOBE NEWSWIRE) -- Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, today announced that Neuman + Associates (“N+A”), a full-service, multifamily office and business management firm headquartered in Encino, California, has joined Focus partner firm NKSFB, LLC (“NKSFB”), a Los Angeles-based multifamily office and business management firm.
Founded in 1991 by Harley J. Neuman, N+A offers a broad range of multifamily office and business management services to clients in the entertainment industry. This transaction will allow N+A to tap into NKSFB’s infrastructure and platform, enabling the N+A team to focus more on servicing clients. This combination will also help NKSFB strengthen its existing presence in Southern California.
“We are excited to partner with NKSFB and Focus, and believe the combination will ultimately create a better experience for our clients,” said Harley Neuman, President and Founder of N+A. “With the relationships and resources that are available to us through both NKSFB and Focus, we see a great opportunity to enhance our services to our clients and further capitalize on growth opportunities in the future.”
“We have known Harley for a long time and have the upmost respect for the business that he has built,” said Mickey Segal, Managing Partner of NKSFB. “We are thrilled to have such a great addition to our team and are looking forward to working together.”
“This partnership between N+A and NKSFB will further solidify Focus’ and NKSFB’s leadership positions in the family office and business management space,” said Rudy Adolf, Founder, CEO and Chairman of Focus. “We are excited to add such a reputable firm to our partnership, and believe this transaction will help us continue to expand resources for our partner firms in the ultra-high net worth and entertainment segments. Transactions like this demonstrate the network and scale benefits our strong M&A capabilities offer our partner firms.”
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, please visit www.focusfinancialpartners.com.
About NKSFB, LLC
NKSFB, LLC (“NKSFB”) is a premier multifamily office and business management firm based in Los Angeles. 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 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.
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Source: Focus Financial Partners Inc.