NEW YORK, April 26, 2019 (GLOBE NEWSWIRE) -- Focus Financial Partners Inc. (FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that Focus partner firm Buckingham Strategic Wealth (“Buckingham”) has entered into a definitive agreement under which Lake Mary Wealth Management, LLC (“Lake Mary”) will join Buckingham. This transaction is expected to close in the second quarter of 2019, subject to customary closing conditions.
Lake Mary is a fee-only registered investment advisor located in Maitland, Florida. Founded by Paula Taylor, Lake Mary provides wealth and investment management services to its clients. Lake Mary has entered into the agreement for this transaction pursuant to the terms of a succession agreement it has had in place with Buckingham since 2017. Buckingham’s evidence-based investment philosophy and emphasis on holistic wealth management solutions will help facilitate a seamless transition for Lake Mary’s clients.
“For my entire career, I have been passionate about helping clients achieve what is most important to them financially, and doing so through a service-first approach,” said Paula Taylor, Founder of Lake Mary. “In searching for a succession partner, it was vital for me to be convinced that my clients would receive the same high level of service they have come to expect from me. As a proud member of The BAM ALLIANCE, I have seen up close the level of service Buckingham provides to its clients. I could not think of a better solution to provide continuity to the clients for which I have such deep respect and admiration.”
“Serving as Paula’s succession partner is an honor, and we appreciate the opportunity to provide valuable continuity for Lake Mary’s clients,” said Adam Birenbaum, CEO of Buckingham. “Our firms share not only a similar investment philosophy, but also a commitment to doing the right thing for our clients at all times and a focus on deeply personal relationships, so our fit is a natural one. What’s more, through Lake Mary’s longtime membership in The BAM ALLIANCE, our firms have been associated for more than two decades. Given the distinct strengths and robust services that our firm brings to the table, implementing this succession agreement and welcoming Paula’s clients into the Buckingham family will be a win-win for everyone involved.”
“The Lake Mary transaction exemplifies the value that Focus brings to succession planning for both advisors and clients,” said Rudy Adolf, Founder, CEO and Chairman of Focus. “By building a long-term relationship with Buckingham, Lake Mary’s clients will benefit from partnering with a like-minded firm that Lake Mary has known for years. This transaction demonstrates the benefits of our network and scale to the succession planning process.”
About Focus Financial Partners Inc.
Focus Financial Partners Inc. (FOCS) (“Focus”) 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 Buckingham Strategic Wealth
Founded in 1994, Buckingham Strategic Wealth (“Buckingham”) helps individuals, businesses, trusts, nonprofits, retirement plans and medical practice owners achieve their most important goals by creating customized, comprehensive, evidence-based financial plans. Its investment philosophy is rooted in an academic approach tailored to address each client’s distinct willingness, ability and need to accept market risk. As a registered investment advisory firm, Buckingham operates under a fiduciary obligation to its clients. Buckingham’s investment approach centers on modern portfolio theory implemented through passively managed mutual funds and Buckingham’s fixed income portfolio design and execution capabilities. Buckingham’s headquarters are in St. Louis, and it has 33 offices in South Carolina, Virginia, Maryland, Pennsylvania, West Virginia and New Jersey, among 11 other states. For more information about Buckingham, please visit www.buckinghamadvisor.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 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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