NEW YORK, NY / ACCESSWIRE / July 1, 2022 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Ross Bennet Smith ("RBS"), a boutique family office services firm based in London, will join with Focus partner firm NKSFB, LLC ("NKSFB"), one of the premier multifamily office and business management firms in the United States. This transaction is expected to close in the third quarter of 2022, subject to customary closing conditions.
Founded in 1983 by Stephen Ross and led by Daniel Ross since 2016, RBS is a leading provider of business management, tax, family office and corporate finance advisory services to a diverse set of global clients, including recording artists, actors, athletes, high net worth families and media and technology companies. RBS will leverage NKSFB's scale and infrastructure to expand its client services and geographic reach. Through RBS, NKSFB will gain additional talent as well as an international presence and expertise, while further expanding its position as a preeminent multifamily office and business management firm.
"I am excited for RBS to join forces with NKSFB, and for the opportunity to add my unique expertise to NKSFB as a Partner while I continue to lead RBS," said Daniel Ross, Managing Partner of RBS. "Not only are RBS clients gaining a greater breadth and depth of services, but they will also benefit from access to the NKSFB network and a brand which resonates globally."
"Daniel leads an incredible business that will add substantial value to our clients, while expanding our business beyond the United States. There will be many opportunities for collaboration, and we look forward to providing an enhanced client experience," said Mickey Segal, Managing Partner of NKSFB. "We are excited to have RBS' talented leadership and professionals join us, and we look forward to working and growing together."
"We are thrilled that the RBS team will be joining NKSFB," said Rudy Adolf, Founder, CEO and Chairman of Focus. "RBS' expertise in the UK market, combined with their deep client service capabilities and strategic advisory services, will further enhance NKSFB's brand and differentiated offering. We are pleased that NKSFB continues to utilize our M&A capabilities to advance their goal of becoming a global multifamily office and business management firm."
About Focus Financial Partners Inc.
Focus Financial Partners Inc. is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.
About NKSFB, LLC
Based in Los Angeles, CA, NKSFB, LLC is a multifamily office and one of the premier business management practices in the United States, representing many of the world's top entertainers, musicians, producers, athletes, executives, high net worth individuals and entrepreneurs. For more information about NKSFB, please visit www.NKSFB.com.
Cautionary Note Concerning Forward-Looking Statements
This release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment, including the impact of the conflict in Ukraine, which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.
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SOURCE: Focus Financial Partners