Summit Partners is reportedly shopping around its stake in Focus Financial
Focus has wheeled and dealed this year with acquisitions and big lines of credit -- now this
Elmer Rich III
Oh oh. “Smart money leaves first.”
Ary Rosenbaum
As a Geller Group employee, Sheldon Geller and Rudy Adolf led us all believe that when Focus achieved “critical mass”, we’d go public, probably in 5 years. That was 6 1/2 years ago. I didn’t believe them then and I refused those incentive units that were no incentives and were units of nothing. I am glad my future wasn’t attached to that scratched anchor. We all know what happened with that Geller transaction. Rumor is that Focus performed no due diligence in that purchase and I think it showed.
Elmer Rich III
“....the advisors, would not realize value from the deal….”
We do both TPA and RIA M&A deals. The above quote describes the experience of most roll-ups. It is hard to see how this trend will change, let alone to sellers receiving enough value to support their retirements. That is the goal of our clients.
How can a potential seller trust the finances of a firm where the owners, who know the financials best, are dropping the investment? Of course, how will the debt be paid?
Let’s also remember that many (most?) roll-up firms have collapsed suddenly.
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Carson Group legal drama discovered by Omaha media with settlement still on table • DPL annuity sales top $3 billion milestone, two months ahead of schedule • Potomac gets serious about Seinfeld • SSGA raids Schwab for technology executive
Carson case develops • After taking 58 months to sell its first $1 billion of annuities, DPL did its third billion in six months • Potomac's Christopher Norton promises to show fun side of RIAs and thanks F-word (fiduciary) video ban • SSGA has a new COO.
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Focus Financial Partners, LLC
Consolidator/Roll-up Firm
Top Executive: Rudy Adolf
DeVoe & Company
Consulting Firm
Top Executive: David DeVoe
FiComm Partners
Marketing & Public Relations
Top Executive: Megan Carpenter, CEO
