Last week I came across an article referenced by Michael Kitces discussing the recent IPO of Focus Financial, a large Registered Investment Advisor. Focus Financial raised $500 million in its initial public offering, which will be used to purchase up to 500 smaller RIA firms as it attempts to grow via acquisition. Although growing via acquisition isn’t my ideal growth strategy, I don’t have any issues with larger firms acquiring smaller firms. I am, however, a little concerned about what the pressures and expectations from Wall Street may mean for Focus, its advisors and most importantly, its customers.
In a solo-edition of Talkin’ Shop, I share my thoughts and ask for your comments about the potential pressures from Wall Street.
Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.