Focus Combines Two Companion Companies In Newest Consolidation

RIA aggregator Focus Monetary is continuous to consolidate accomplice corporations; this time, the Dallas, Texas-based Brownlie & Braden Advisors is becoming a member of Focus accomplice agency Prairie Capital Administration Group, situated in Kansas Metropolis, Mo.

As of the transaction, Prairie Capital has $7 billion in managed belongings. Brownlie & Braden’s former president, James Braden, will turn into a managing director at Prairie and referred to as the deal an “thrilling subsequent step” within the agency’s evolution.

“The mix will enable us to supply an excellent broader array of subtle options to our purchasers,” he mentioned. “What’s equally thrilling is the sturdy cultural alignment.”

Brownlie & Braden was based in 1997 and joined Focus as a accomplice agency in 2017. The RIA works with high- and ultra-high-net-worth people, offering personalised recommendation, tax and property planning and different providers.

Prairie Capital was based in 1995, and it managed $5 billion when Focus acquired it in 2021. Along with its headquarters in Kansas Metropolis (and the newly acquired Brownlie & Braden Dallas-Fort Value workplaces), Prairie Capital has principals in Chicago and Denver. The agency works with UHNW people, household workplaces, foundations and endowments, and its providers embrace wealth administration, monetary planning, tax and property planning and different household workplace wants.

In response to Prairie Capital Managing Director Andy Klocke, Dallas-Fort Value is a “key strategic market” for the agency, and the mix of the 2 Focus accomplice corporations will “considerably improve” Prairie Capital’s presence there.

“Brownlie & Braden’s experience, dedication, and shared values make this mix a pure match,” he mentioned. 

Final 12 months, WealthManagement.com reported that Focus Monetary anticipated to consolidate round 90 independently operated subsidiaries into a number of of its already-existing bigger corporations. 

As a part of this technique, Focus marked a number of corporations as “hubs” for taking in current corporations, together with The Colony Group, Kovitz Funding Group Companions and SCS Capital Administration LLC. Earlier this month, Focus named the Los Angeles-based Gefland, Rennert & Feldman as its fourth hub.

Earlier this 12 months, Focus appointed Mitch Kovitz, the principal, founder, and co-chief funding officer on the $7.68 billion accomplice agency Kovitz, as vice chairman; moreover, Michael Nathanson, CEO of the $21 billion Colony Group, grew to become Focus’ president (and later CEO).

Focus has continued consolidating its accomplice corporations, together with merging The Colony Group with GW & Wade, a Massachusetts-based RIA with $10.4 billion in managed belongings. Focus mixed The Colony Group with accomplice agency Buckingham Strategic Wealth in Might to create a $50.2 billion RIA. 

In June, Focus shifted Connectus Wealth Advisers’ U.S.-based enterprise traces into The Colony Group and Kovitz Funding Group Companions; one month later, Kovitz purchased the $2.6 billion accomplice agency Relative Worth Companions Group, bringing Kovitz to greater than $24 billion in belongings. 

This week, Focus introduced that two Connecticut-based accomplice corporations, Coastal Bridge Advisors and TrinityPoint Wealth, would mix below the Coastal Bridge title.

Final 12 months, Focus was taken personal in a sale to personal fairness agency Clayton, Dubilier & Rice. Within the aftermath, all three Focus founders, together with former COO Raijini Kodialam, former M&A head Lenny Chang and former CEO Rudy Adolf, exited.