NEW YORK, May 28, 2019 (GLOBE NEWSWIRE) -- Focus Financial Partners Inc. (FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which TMD & Associates, Inc. (“TMD”) will join Focus partner firm One Charles Private Wealth Services, LLC (“One Charles”). This transaction is expected to close in the third quarter of 2019, subject to customary closing conditions.
TMD is a registered investment adviser based in Scottsdale, Arizona. Founded in 1994 by Todd Douma, TMD provides customized financial planning and wealth management services to business owners, corporate executives, professional athletes and other affluent clients throughout the country. Through this transaction, TMD and One Charles will integrate their collective resources and expertise to enhance the service offerings to their clients. Additionally, TMD and One Charles share a similar culture and vision, coming together to create a collaborative partner group with capable next generation talent. The transaction also expands One Charles’ geographical reach with a scalable presence in the Southwest region.
“This is a great day for our firm,” said Todd Douma, Founder of TMD. “Part of TMD’s mission is to truly make a difference in people’s lives. This includes our clients, our employees and our community. One Charles shares this kind of vision and we see huge value for all our stakeholders in creating a deep bench of like-minded people that share a common passion. We look forward to seeing what the next stage in our firm’s history brings, and are excited to be joining with an institutional quality wealth advisory firm that is a powerful advocate for its clients.”
“We are excited about the opportunity to partner with Todd and his team,” said Paul Squarcia, Founding Principal of One Charles. “This opportunity is consistent with our strategy of expanding our investment management services on behalf of our clients. This is a strategic move that gives our firm a footprint on both the East Coast and West Coast, enhancing our ability to attract new clients and employees through a deeper product offering while also ensuring business continuity.”
“We are pleased to announce the first strategic transaction on behalf of One Charles since they joined the Focus partnership in 2017 after becoming independent with Focus’ assistance in 2015,” said Rudy Adolf, Founder, CEO and Chairman of Focus. “This business combination speaks to our ability to support like-minded advisors and breakaway teams in increasing scale, broadening geographic reach and enhancing client service through our strong M&A capabilities, again demonstrating the network benefits of the Focus partnership.”
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 One Charles Private Wealth, LLC
One Charles Private Wealth Services, LLC (“One Charles”) is an independent wealth and investment advisory firm headquartered in Hingham, Massachusetts. One Charles provides clients located around the country with a wide range of services and solutions around investments, banking, insurance and socially responsible investing. For more information please visit www.onecharlespw.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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