Focus Financial Partners
23.7.2021 15:02:49 CEST | ACCESS Newswire | Press release
GAVIN Hockey Wealth Specialists to Join Connectus, Establishing Connectus' Presence in the Canadian Wealth Management and North American Athlete Markets
NEW YORK, NY / ACCESSWIRE / July 23, 2021 / 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 GAVIN Hockey Wealth Specialists ("GAVIN"), a registered portfolio manager and investment adviser based in Toronto, will join Connectus Wealth Advisers ("Connectus"). This transaction is expected to close in the third quarter of 2021, subject to customary closing conditions.
GAVIN is an independent, multi-family office that provides customized financial planning, investment and business management services to professional hockey players in Canada and the United States. Based in Toronto, the firm specializes in working with these athletes at all stages of their careers, helping them to achieve financial security through an integrated approach to investing, tax and estate planning, and risk and cash flow management, among other services. For nearly eighteen years, GAVIN's expertise in these areas has helped the firm create a long-standing and loyal client base and a well-recognized brand name.
"Since our business was founded in 2003, we have been committed to growing and defending our clients' wealth, while expanding and strengthening our leadership in the hockey market," said Stew Gavin, President and Co-Founder of GAVIN. "Becoming part of Connectus allows us to advance these goals and to focus even more deeply on our clients, while maintaining our highly customized and specialized service model."
"It will also enable us to achieve substantial operating efficiencies by leveraging Connectus' shared infrastructure," added Matthew Bacchiochi, Vice President and Co-Founder of GAVIN. "Equally important, we will benefit from Focus' scale advantages, specialized expertise and resources to enhance our client experience and expand our business into other professional athlete markets,"
"We are thrilled to welcome the GAVIN team to Connectus," said Rajini Kodialam, Co-Founder and Chief Operating Officer of Focus. "This transaction marks the expansion of Connectus into the Canadian wealth management market and the ninth firm to join Connectus since it began to extend its business internationally late last year. We could not be more excited to partner with a firm that has such a strong entrepreneurial and client-centric mindset, reinforced by an outstanding reputation and high brand visibility. The addition of a firm of GAVIN's caliber is further evidence that Connectus' differentiated value proposition is resonating strongly worldwide, and will complement its presence in the United States, Australia and the United Kingdom."
Blair Franklin Capital Partners, a Toronto-based M&A advisory firm, served as financial advisor to GAVIN for this transaction.
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 Connectus Wealth Advisers
Connectus is a global consortium of client-centric advisers that deliver comprehensive wealth management advice through access to expanded services, shared resources and best practices. Connectus exemplifies the spirit of partnership and collaboration, yet celebrates the entrepreneurial mind-set of its advisers. Connectus is designed for founders and teams who want to continue to manage their client relationships and maintain their boutique cultures, while gaining the operational efficiencies of shared infrastructure and access to expanded client service capabilities.
Through Focus, Connectus advisers gain a strategic growth partner with specialized expertise. They benefit from Focus' scale and extensive network, continuity planning, insights and best practices. Focus is also a source of permanent capital to accelerate growth and enhance business and client outcomes. For more information, please visit www.connectuswealth.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.
Investor and Media Contacts
Tina Madon
Senior Vice President
Head of Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-813-2909
tmadon@focuspartners.com
Charlie Arestia
Vice President
Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-560-3999
carestia@focuspartners.com
SOURCE: Focus Financial Partners
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