Focus Financial takes stake in $2 billion RIA

Focus Financial Partners has agreed to take a stake in Ancora Holdings Inc., the parent of four advisory firms managing more than $2 billion. The firm is based in Cleveland.

Terms of the agreement were not disclosed. The transaction is expected to close in the fourth quarter.

Its stake in Ancora will expand Focus’ presence in the Midwest high-net-worth market.

Ancora, founded in 2003, is employee-owned and managed by a seven-person executive team led by Fred DiSanto, its chairman and CEO.

[More: Focus Financial pushes forward with blistering M&A pace in 2021]

Active investment managers must consider ESG when building portfolios today

The post Focus Financial takes stake in $2 billion RIA appeared first on InvestmentNews.

Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
%d bloggers like this: