Focus Monetary Companions has agreed to accumulate Homan Wealth Advisors, an Omaha, Neb.-based registered funding advisor.
Homan Wealth Advisors will be introduced into Focus’s Buckingham Strategic Wealth enterprise, which is itself now a part of that guardian firm’s The Colony Group. That is Colony’s first exterior deal because it merged with Buckingham in Might.
As of June, the mixed Buckingham/Colony agency had $95 billion in belongings. It has 90 areas throughout 31 states and the District of Columbia.
Final 12 months, Focus was taken personal in a sale to personal fairness agency Clayton, Dubilier & Rice. Since then, executives have been busy cleansing up its sprawling operation, consolidating its 90 independently operated subsidiary practices into a handful of its largest branded companies, together with Colony and Kovitz.
Homan, which was based in 2003 by Richard “Rick” Homan, will not be a Focus accomplice agency. Based on its most up-to-date Type ADV, the RIA managed about $271 million in consumer belongings and suggested on $120.5 million in retirement plans.
The agency has lengthy partnered with Buckingham, working on its affiliated wealth administration platform, Buckingham Strategic Companions, since its inception.
“As our shoppers know, for over 20 years, we now have leveraged the BSP group’s sources, expertise and information to deal with our back-office duties,” Homan stated in an announcement. “This alliance has allowed us the time and area to serve our shoppers and their distinctive wants in a customized method. As we thought-about the way forward for the agency, becoming a member of Buckingham Strategic Wealth was a pure subsequent step.”
“This transaction is one more step in a brand new period of alternative for our firm,” stated Michael Nathanson, the previous head of Colony who was named Focus CEO in April. “We imagine the mixed Buckingham/Colony enterprise presents a differentiated, main alternative for each shoppers and advisors and anticipate it to realize fast progress going ahead.”
Phrases of the deal, anticipated to shut within the fourth quarter, weren’t disclosed.
