Focus Financial Partners, a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which HORNE Wealth Advisors, a registered investment advisor with offices in Ridgeland, Mississippi and Nashville, Tennessee, will join with Focus partner firm Buckingham Strategic Wealth.
This transaction is expected to close in the third quarter of 2019, subject to customary closing conditions.
HORNE Wealth provides comprehensive wealth planning and investment management services to individuals, families, institutions and businesses. Led by Stan Purvis, HORNE Wealth is a subsidiary of HORNE LLP, a large regional accounting firm led by Joey Havens. Following this transaction, Purvis and the HORNE Wealth team will join Buckingham where the wealth management business of HORNE Wealth will continue. The transaction expands Buckingham’s presence into Mississippi and Tennessee and its overall depth of talent.
HORNE Wealth has been associated with Buckingham since 2009 through its membership in The BAM ALLIANCE, a nationwide community of independent financial advisors that engage BAM Advisor Services, LLC, Buckingham’s sister company.
“Over the years, it has become clear that our firms have a like-minded approach to delivering highly attentive and deeply personal levels of client service,” said Purvis. “We share the same core values and evidence-based investment philosophy. We’re excited to begin taking advantage of Buckingham’s distinctive strengths to improve our clients’ experience, through access to enhanced technology capabilities, industry-leading thought leadership, and more robust resources and specialists.”
“We are pleased to welcome HORNE Wealth to the Buckingham family,” said Adam Birenbaum, CEO of Buckingham. “Aligning our efforts will allow us to better serve our clients and help them achieve their most important financial and life goals. We accomplish these objectives through a combination of highly engaged relationships and comprehensive investment and wealth planning services. Stan and his team will be assets to our firm as a whole, helping us to enhance the client experience while adding to our exceptional talent base, which is an integral component of our long-term vision. We are honored that they are choosing to partner with Buckingham.”
“We are excited for Stan and the HORNE Wealth team to join Buckingham. Given the two firms’ cultural alignment and similar client service philosophy, the transaction will unlock powerful benefits for their clients,” said Rudy Adolf, Founder, CEO and Chairman of Focus. “This partnership will expand Buckingham’s presence in the Southeastern United States as they continue to grow their nationwide presence. Transactions like this further reinforce the value we offer to our partner firms as they benefit from our network and scale benefits, as well as our strong M&A capabilities.”
About Focus Financial Partners Inc.
Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”) 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 Buckingham Strategic Wealth
Founded in 1994, Buckingham Strategic Wealth (“Buckingham”) helps individuals, businesses, trusts, nonprofits, retirement plans and medical practice owners achieve their most important goals by creating customized, comprehensive, evidence-based financial plans. Buckingham’s investment philosophy is rooted in an academic approach tailored to address each client’s willingness and ability to accept market risk. As a registered investment advisor, Buckingham has a fiduciary obligation to its clients. The firm’s investment approach centers on modern portfolio theory implemented through passively managed mutual funds and the firm’s fixed income portfolio design and execution capabilities. Buckingham is headquartered in St. Louis and maintains 33 offices in 19 states. For more information about Buckingham, please visit www.buckinghamadvisor.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 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.
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Source: Focus Financial Partners Inc.