The Chicago-based serial RIA acquirer has roped in more than $13 billion in client assets via six deals announced so far in 2021.
The Cleveland-based holding company, which in the spring had waged a public, but ultimately unsuccessful proxy battle against Blucora, will be the 77th Focus partner firm.
Focus also said on Thursday it will add Prairie Capital Management, a registered investment advisor with $5 billion in assets under advisement, and merge another $1.3 billion-asset RIA in Rhode Island into existing partner firm SCS Capital Management.
“We see many attractive opportunities to deploy capital,” says CEO Rudy Adolf, citing $1 billion to fuel deals in 2021.
Despite rising debt, CI Financial chief Kurt MacAlpine says the Toronto-based asset manager will continue to buy RIAs in the United States.
LPL CEO Dan Arnold said it is having an “ongoing dialogue” with the remaining undecided Waddell & Reed advisors ahead of the mid-year closing of the deal.
The acquisition of Bainco International Investors brings Cerity Partners’ total assets to over $28 billion.
PWA Wealth Management was the roll-up’s seventh acquisition to close in 2020.
Independent broker-dealer aggregator Atria says SCF Securities will add about 150 brokers with $4 billion in assets under administration.