Jan 22 Focus Financial Partners LLC, a firm that
has expanded by acquiring independent advisers and teams across
the United States, said on Tuesday it has boosted its client
asset base by roughly $450 million through new hires and
The largest portion of those new assets came from the
addition of Pittsburgh-based independent firm H.L. Zeve
Associates, which merged with one of Focus' existing partner
firms, JFS Wealth Advisors.
"There are real efficiencies to clients that could be gained
by combining the two organizations," said H.L. Zeve president,
Steve Lee, in an interview on Tuesday. "It enhances the suite of
services that we can offer to our clients... to round out our
New York-based Focus, which has about $60 billion in total
client assets, provides services such as technology support and
legal advice to independent adviser teams that join as
partnering firms. While a part of the broader Focus network, the
individual teams maintain their autonomy and choose their own
third-party custodian for their clients' securities.
H.L. Zeve, founded by veteran adviser Harvey Zeve, has $325
million in client assets under management. The addition of
Zeve's team brings JFS' total client asset count to more than
JFS, founded in 1986 by Bob Jazwinski, was an early Focus
partner. Jazwinski said part of his decision to join Focus was
to benefit from the collaborative nature of working with other
"(Focus) is a great resource to brainstorm on issues and
best practices for delivering better client services," he said.
OTHER ADDITIONS TO FOCUS
Also on the move, veteran adviser Haley Rockwell joined
existing Focus partner firm LLBH Private Wealth Management,
based in Westport, Connecticut. Rockwell, who managed $110
million in client assets at Greenwich, Connecticut-based firm
Chronogram, joined LLBH as a managing director.
Focus firm CapGroup Advisors, a Richmond, Virginia-based
wealth manager with more than $1 billion in assets, hired
financial adviser Jeremy Kuhlen as a managing director. Kuhlen
previously co-founded Mentor Wealth Management, a Richmond-based
firm with roughly $35 million in assets.
Buckingham Family of Financial Services hired veteran
adviser Dan Solin, who joined Buckingham's asset management
unit as a wealth adviser. Solin was previously senior vice
president at Index Fund Advisors, an Irvine, California-based
independent advisory firm. In his new role, Solin will also be a
director of investor advocacy.