The nation's largest aggregator is making a new international push.

Montreal-based Dorchester Wealth Management joined Focus this month, officially becoming the aggregator's second international firm. Focus founder Rudy Adolf also says he is close to announcing the addition of a third firm in yet another international market, but he declined to give specifics.

Greystone Financial Services, with offices in London and Manchester, U.K., joined Focus about five years ago, Adolf says.

Founded in 1928, Dorchester has C$850 million (roughly $675 million) under management, according to a release about the deal.

"This is our first deal in the Canadian market but we are very interested in a number of international markets," Adolf says.

Focus' network has more than 30 firms, who pay Focus between 30% and 50% of their net income in perpetuity in return for access to capital and other benefits, according to Adolf. Focus now claims $325 million in revenues.


Dorchester plans to use a capital injection from Focus to open a new office in Toronto, the firm's president, Robert Bard, says.

The value of "the additional resources can't be understated," Bard says. "It will allow us to put another footprint down in another city, with additional talent."

"We are extremely proud to be the first Canadian [Focus] firm," he adds. "I think it puts us in a unique position. ... We have a new currency which we can use to attract talent."

Dorchester charges fixed fees and a percentage of AUM, according to an ADV form filed with the SEC this month; the firm is also registered with regulators in seven Canadian provinces. All the Focus firms, Adolf says, offer independent advice and maintain only minimal (if any) commission business.

"When you look into a new market," Adolf says, "you see dynamics that are similar to U.S. dynamics; and when you see a quality target and they buy into the overall value proposition it creates a good entry opportunity."

The company last week announced the addition of 45-year-old The Fiduciary Group in Savannah, Ga.

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