ON THE MOVE-Focus Financial adds team with $400 mln in assets

Mon Aug 5, 2013 3:25pm EDT

Aug 5 (Reuters) - Focus Financial Partners LLC, a firm that has grown by acquiring independent advisers and teams across the United States, said Monday it landed a team in Michigan that manages about $400 million in client assets.

LaFleur & Godfrey Inc, a Grand Rapids-based independent investment adviser founded in 1987, joined Focus last Thursday.

The firm is led by co-founder Richard Godfrey, who has worked as an adviser in the Michigan area for nearly 40 years, and Daniel VanTimmeren, who joined LaFleur & Godfrey in 2007 after serving as chief investment officer for Holland, Michigan-based Bayside Capital Management.

LaFleur & Godfrey provides investment management services centered on the use of individual securities, bonds and fixed income exchange-traded funds. It also provides financial planning to over 200 clients, who are mainly located in the western Michigan area.

New York-based Focus, which has about $66 billion in total client assets, provides services such as technology support and legal advice to independent adviser teams that join as partnering firms. Focus said it added $14 billion in client assets in 2012.