Focus Financial Partners Adds Douglas C. Lane & Associates
– Wealth Management Firm Contributes to Focus’ Increased Presence in the New York Metropolitan Area –
New York, NY – January 19, 2016 – Focus Financial Partners (‘Focus’), a leading partnership of independent, fiduciary wealth management firms, announced today that New York City-based registered investment advisory firm Douglas C. Lane & Associates (‘DCL&A’) has joined Focus as of January 1, 2016. The addition of DCL&A further solidifies Focus’ strong presence in the robust M&A market among independent advisory firms.
As one of the largest independent RIAs on the East Coast with 34 employees, DCL&A provides highly customized investment management services to clients in 47 states and 17 countries. Since Doug Lane founded the firm in 1994 with his wife Gay, Principal and COO of DCL&A, their driving motivation has been a personalized approach to wealth and investment management alongside proprietary equity research and a high-touch relationship with its clients. Prior to establishing DCL&A, Doug spent 26 years as a research analyst, portfolio manager and partner at Brundage, Story & Rose. Long-time associates of Doug and now Managing Partners of the firm, Ned Dewees and Sarat Sethi have played a key role in DCL&A’s success and will lead the firm during its next stage of growth. Doug and Gay will remain active partners of the firm. DCL&A’s deep expertise, particularly in equities and wealth management, has been widely recognized in the industry, exemplified by Sarat’s regular appearances on CNBC.
Throughout the firm’s history, Doug and Gay have been committed to the development of a culture based on loyalty and service to clients, and to the establishment of a next-generation of highly qualified partners and associates. This commitment to quality and excellence, coupled with the firm’s emphasis on providing consistently strong investment performance, has allowed DCL&A to build multi-generational family relationships across its clientele.
“While evaluating potential strategic partners, we found that Focus places the same emphasis as we do on valuing client relationships and achieving long-term growth,” said Douglas Lane, Founder and Principal of DCL&A. “While ensuring our continued independence, Focus has a proven track record of supporting entrepreneurially-minded firms like ours via M&A and value-add programs such as marketing, technology and operations. We are confident that the best interests of our clients will be safeguarded for years to come thanks to this new partnership with Focus.”
“We are excited to add a firm from the greater New York area like DCL&A to the Focus partnership,” said Rudy Adolf, Founder and CEO of Focus. “The advisors at DCL&A have clearly established an incredible brand based on long-lasting, trusting relationships with their clients, an attribute we hold in high esteem at Focus. This, coupled with their entrepreneurial spirit and desire to grow and innovate, makes them a perfect fit for the Focus partnership.”
Colchester Partners, a Boston-based M&A advisory firm, advised DCL&A on the transaction.
About Focus Financial Partners
Focus Financial Partners is a leading partnership of independent, fiduciary wealth management firms. Focus provides unrivaled access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with wealth management, benefit and investment consulting services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices of the market leader to achieve their business objectives. For more information about Focus Financial Partners, please visit www.focusfinancialpartners.com.
About Douglas C. Lane & Associates
Douglas C. Lane & Associates, Inc. is a registered investment advisory firm based in New York City. The firm manages capital for its client base of high net worth families, trusts, pensions, endowments, foundations and institutions in 47 states and 17 countries around the world. DCL&A is independently owned and operated, and has 34 associates, including 12 principals. The firm was founded in 1994 by Doug and Gay Lane with a vision to serve the investment needs of clients in a different and better way. For more information, please visit www.dclainc.com
Focus Financial Partners
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