Focus Adds Wealth Group in Canada; United Capital Picks Up 2 Firms

Focus Financial Partners is crossing the border. The wealth management group said Monday that Dorchester Wealth Management of Montreal has joined its partnership.

Dorchester advisors have some $850 million Canadian dollars — about $635 million U.S. dollars at Monday’s exchange rate — in assets under management. Its client base includes Canadians, Americans and others, who are served by nine investment professionals.

“We see tremendous potential through Dorchester to increase our regional reach in Canada and bring more exciting international opportunities to Focus,” said Rudy Adolf, founder and CEO, in a statement.

According to Focus, the deal means Dorchester now has access to Focus’ M&A expertise and growth capital. The new partner “plans to utilize Focus’ continued geographic expansion in North America to attract top quality talent and ensure the strongest possible wealth management offering for clients,” it says.

“Focus brings greater resources and expertise in certain aspects of our business while still allowing us to maintain our boutique client-service environment and investment excellence,” said Robert Bard, president of Dorchester Wealth Management, in a press release.

The Dorchester group was founded in 1928 and is licensed with different regulatory groups in Quebec, Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario and the United States.

Focus adds that it has more than 30 firms in its network and annual revenues of about $325 million.