Fri, Mar 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Focus Financial Partners buys hedge fund of funds provider

Friday, February 01, 2013
Opalesque Industry Update - Focus Financial Partners, LLC, the largest partnership of independent wealth management firms approaching $60 billion in client assets, today announced that The Portfolio Strategy Group, a Westchester based investment advisor, has joined the Focus partnership, effective December 31, 2012. With over $1 billion in client assets, PSG provides investment management solutions to more than 200 clients throughout the U.S.

“We are excited to bring this high quality investment advisor into the Focus partnership and expand our presence in the very attractive and under-penetrated New York market,” said Rudy Adolf, founder and CEO of Focus. “PSG’s investment management expertise will be a resource to other partners and will strengthen our ability to serve clients. Through the addition of such firms as PSG, 2012 has been another successful year for Focus and we look forward to continuing our momentum into 2013.” Through successful transactions and organic growth, Focus added $14 billion in client assets in 2012.

Founded in 1990 by Managing Partner Richard Yoken, PSG serves high-net- worth entrepreneurs and professionals. At a time when high-quality investment consulting with an open architecture approach to investing was only available to institutions, Mr. Yoken founded PSG. He was one of the first to pioneer the approach of delivering these valuable services to high-net-worth individuals.

“In the process of seeking a future partner we placed a paramount emphasis on retaining our independence to achieve our future goals,” said Mr. Yoken. “Through our partnership with Focus, our clients are reassured that we will maintain our culture and rigorous investment management process for the long term. We also look forward to working with Focus to attract additional experienced investment professionals and benefit from the experiences of other Focus Partners.”

PSG has eight full time employees, including Managing Directors Edward Scharf, Peter Yorkes, Lawrence Bartimer, and Thomas Zottner.

Silver Lane Advisors LLC advised PSG on the transaction. Silver Lane Partner, Erika Cramer, commented, “We are pleased to have helped PSG find, in Focus, a partner that enables them to maintain their independence while helping the current and next generation leadership position PSG for an even more exciting future.”

(press release)

About Focus Financial Partners
Founded in 2006, Focus Financial Partners, LLC, is the leading international partnership of independent, fiduciary wealth management firms. Approaching $60 billion in client assets and with over 800 employees, including over 100 partners, Focus provides wealth management, benefit and investment consulting services to individuals, families, employers and institutions. Clients benefit from Focus’ independence, as well as unrivaled access and continuity. Focus principals maintain their entrepreneurial independence, benefit from the synergies, scale, economics and best practices of the market leader and achieve an eventual, smooth ownership transition.

Focus was included on Inc. magazine’s 5000 ranking of the nation’s fastest-growing private companies in 2011 and 2010. In 2012, Focus was named a Crain’s New York Business “Fast 50” growth firm in New York City. For more information, please visit www.focusfinancialpartners.com.

About The Portfolio Strategy Group
The Portfolio Strategy Group (PSG) is a registered investment advisor serving a national clientele from its White Plains, NY office. PSG develops an investment strategy for its clients’ entire portfolio and implements the plan utilizing experienced investment advisors, including hedge funds, which have been selected by PSG. The firm is one of the oldest and most experienced wealth managers in the country. The five partners at PSG combine for over 120 years of investment experience.

PSG was founded in 1990 by Richard Yoken, and is headquartered in White Plains, NY. PSG provides discretionary investment advisory services to high net worth individuals and institutional investors with investible assets of $1 million to $100 million. The firm's investment offering combines core portfolio management expertise with an open architecture selection of externally-managed products. PSG also offers a strong alternative capability, which includes both outside managers and its proprietary hedge fund of funds product.

fg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  2. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  3. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  4. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less

  5. Hedge funds await outcome of French elections, feel pinch on lower oil prices & weak dollar[more]

    Komfie Manalo, Opalesque Asia: Hedge funds felt the pinch of lower oil prices and weak U.S. dollar as the Lyxor Hedge Fund Index was marginally down as of the week ending 14 March, Lyxor Asset Management said in its Weekly Briefing. The Lyxor He