The acquisition is the fifth for Focus this year, and adds Vestor, a Chicago-based independent advisory firm with over $500 million in client assets, to its 24 partner firms and affiliates. The move is part of a strategy to attract independent advisors and brokers as the industry moves towards more independence.
“We are excited to make our entry into the Chicago market with Vestor and, through them, hope to attract interest from additional advisors,” says Rudy Adolf, founder and CEO of Focus, which has $52 billion in assets under management.
Vestor has provided a range of wealth management services for nearly three decades, targeted towards high-net worth clients all over the country.
“We were searching for a strategic partner for a number of years and were excited when we found Focus,” said Brian Baker, president and CIO at Vestor. “At the core, the Focus model is based on preserving our independence while allowing us to access resources so we can actively pursue our vision of extending our services to more clients and recruiting like-minded advisors to join us.”