Focus Financial Partners said Thursday that a team with five veteran advisors and $1 billion in client assets had joined its network: Portfolio Strategy Group, an RIA in White Plains, N.Y.
New York-based Focus provides wealth-management and investment services to independent advisors and others. It had nearly $60 billion in client assets and included 125 partnerships as of Dec. 31. It added $14 billion in assets last year.
“We are excited to bring this high-quality investment advisor into the Focus partnership and expand our presence in the very attractive and under-penetrated New York market,” said Rudy Adolf, founder and CEO of Focus, in a press release. “PSG’s investment management expertise will be a resource to other partners and will strengthen our ability to serve clients.”
Portfolio Strategy Group was founded in 1990 by Managing Partner Richard Yoken to serve high-net-worth entrepreneurs and professionals through open-architecture platforms and other programs.