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September 1, 2021 at 8:00 AM CDT
Ancora Holdings to Join Focus as a New Partner Firm, a Premier Wealth Advisory and Investment Management Firm With a Substantial and Growing Presence in the Midwest
NEW YORK, NY / ACCESSWIRE / September 1, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that Ancora Holdings Inc. (together with its subsidiaries, “Ancora”), a premier wealth and investment management firm based in Cleveland, OH, has entered into a definitive agreement to join the Focus partnership. The transaction is expected to close in the fourth quarter of 2021, subject to customary closing conditions. Ancora will significantly expand Focus’ presence in the Midwest high net worth market.
Founded in 2003, Ancora employs a distinctive, multi-faceted model, offering bespoke wealth planning, asset management and retirement plan solutions to high-net-worth individuals and families, as well as institutions and foundations. A differentiated feature of the firm’s holistic approach is its deep investment management expertise. Ancora offers its clients an array of proprietary solutions in equity, fixed income, mutual funds and alternative investments. Ancora is employee-owned and managed by a 7-person executive team led by CEO and Chairman Fred DiSanto.
“Ancora was founded as an independent, employee-run firm that can create and implement innovative solutions to meet the complex needs of our clients,” said Fred DiSanto. “Continuously evolving our business model has been an important part of our approach and a critical component to our success. Partnering with Focus allows us to maintain our independence while at the same time enhancing our client value proposition. We are impressed by Focus’ unique approach to partnering with entrepreneurs, and we believe that by leveraging Focus’ many resources, we will be able to further accelerate the growth of our business.”
“We are excited to welcome Ancora to the Focus partnership,” said Rudy Adolf, Founder, CEO and Chairman of Focus. “Ancora is a scaled wealth management firm that has differentiated itself through its diversified service model, which is complemented by an impressive investment team and performance track record. Integral to Focus’ success is partnering with innovative firms that are clear industry leaders and are well positioned for future growth. The value of our partnership resonated with the Ancora team because of our unique focus on empowering the entrepreneur and the value-added services we offer our partner firms. We believe that Ancora will take full advantage of these resources, positioning it to be a major platform not only in the Midwest but beyond.”
Colchester Partners LLC, an investment banking and M&A advisory firm, served as financial advisor to Ancora.
About Focus Financial Partners
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. For more information about Focus, please visit focusfinancialpartners.com.
About Ancora Holdings Inc.
Founded in 2003, Ancora Holdings Inc. offers integrated investment advisory, wealth management and retirement plan services to individuals and institutions across the United States. The firm’s comprehensive service offering is complemented by a dedicated team that has the breadth of expertise and operational structure of a global institution, with the responsiveness and flexibility of a boutique firm. For more information about Ancora, please visit https://ancora.net.
Cautionary Note Concerning Forward-Looking Statements
This release contains certain forward-looking statements that reflect Focus’ current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus’ operations and business environment, including, without limitation, uncertainty surrounding the current COVID-19 pandemic, which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus’ filings with the Securities and Exchange Commission.
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SOURCE: Focus Financial Partners