Seller Details:
NorthCoast Asset Management LLC, a registered investment adviser located in Greenwich, CT. NorthCoast was founded in 1988 and specializes in providing proprietary investment management services that are based on quantitative research, a systematic investment process, and a rigorous approach to risk management.
Buyer Details:
Focus Financial Partners Inc. 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.
Connectus is a global consortium of client-centric advisers that deliver comprehensive wealth management advice through access to expanded services, shared resources and best practices. Connectus exemplifies the spirit of partnership and collaboration, yet celebrates the entrepreneurial mind-set of its advisers. Connectus is designed for founders and teams who want to continue to manage their client relationships and maintain their boutique cultures, while gaining the operational efficiencies of shared infrastructure and access to expanded client service capabilities.
Through Focus, Connectus advisers gain a strategic growth partner with specialized expertise. They benefit from Focus’ scale and extensive network, continuity planning, insights and best practices. Focus is also a source of permanent capital to accelerate growth and enhance business and client outcomes.
Transaction Summary:
NorthCoast provides Connectus with a unique set of investment management capabilities and substantially expands Connectus’ footprint in the United States.