Cardinal Point to Join Focus as a New Partner Firm, Bringing Cross-Border Tax and Wealth Management Expertise to the Focus Partnership
New York, NY – September 15, 2021 – Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that Cardinal Point Capital Management Inc. and Cardinal Point Wealth Management, LLC (together, “Cardinal Point”) have entered into a definitive agreement to join the Focus partnership. The transaction is expected to close in the fourth quarter of 2021, subject to the receipt of regulatory approval and other customary closing conditions.
Since 2009, Cardinal Point has provided personalized investment and estate, tax and financial planning solutions to high-net-worth individuals and families in both the United States and Canada. Over the last twelve years Cardinal Point has built a reputation as a leader in cross-border wealth management through its integrated approach to addressing the complex needs of its clients. The transaction brings a unique value proposition to the Focus partnership while also expanding Focus’ presence in Canada.
“Our strategic partnership with Focus will not only position Cardinal Point for continued growth but will also help ensure continuity for our clients and employees,” said Jeff Sheldon, Founder and CEO of Cardinal Point. “Having known Focus for some time, this transaction will allow us to preserve our firm’s entrepreneurial spirit which was extremely important to us. It will also provide us with access to client and business solutions that will enhance our current capabilities. We are excited for the future growth and expansion of our business with Focus as our strategic partner.”
“We are thrilled to welcome Cardinal Point to Focus,” said Rudy Adolf, Founder, CEO and Chairman of Focus. “Cardinal Point is a clear leader in cross-border wealth management, adding a unique expertise to our partnership as we continue building a portfolio of firms that are highly complementary. This transaction further diversifies our partner group while also increasing our international footprint, which is an important strategic priority. We believe that Cardinal Point’s success with high-net-worth clients, together with its comprehensive service offering and strong leadership team, positions the firm to be a platform for future growth in both the United States and Canada.”
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 Cardinal Point
Cardinal Point is an independent cross-border wealth management firm with offices in both the United States and Canada. Cardinal Point provides personalized investment and estate, tax and cross-border financial planning solutions to affluent individuals and families located in both the United States and Canada. For more information about Cardinal Point, please visit https://cardinalpointwealth.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, without limitation, uncertainty surrounding the current COVID-19 pandemic, 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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