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February 25, 2021 at 8:00 AM CST
Focus Financial Partners Announced that Matheys Lane Capital Management Will Join Partner Firm SCS Financial, Expanding SCS’s Presence in the Ultra-High Net Worth Market
NEW YORK, NY / ACCESSWIRE / February 25, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Matheys Lane Capital Management, L.P. (“Matheys Lane”), a registered investment adviser in Providence, Rhode Island, will join Focus partner firm SCS Capital Management LLC (“SCS”), based in Boston, Massachusetts with offices in New York, New York and Los Angeles, California. This transaction is expected to close in the second quarter of 2021, subject to customary closing conditions.
Established in 2008 by Heather Crosby, Matheys Lane provides a broad range of investment advisory, financial planning, and customized wealth management solutions to ultra-high net worth families and family offices. Gaining access to SCS’s infrastructure, resources and deep bench of talent will enhance Matheys Lane’s current service offerings and promote continuity for its clients. This transaction will enable SCS to expand its presence in the ultra-high net worth market and also add talented professionals to its team. Crosby, together with Chief Investment Officer Michael Sweeny, will join SCS as Managing Directors.
“We are very excited to join a firm of SCS’s caliber and reputation,” said Heather Crosby, Founder and Managing Director of Matheys Lane. “We believe that bringing together two like-minded, client-centric firms will elevate the experience of our collective client base.”
“We immediately identified a cultural fit with the Matheys Lane team, and we share the same strong commitment to providing outstanding solutions for our clients,” said Tony Abbiati, CEO of SCS. “We are excited to welcome Heather and her team into the SCS family. We look forward to many years of partnership and to building on the breadth and depth of our client relationships.”
“We are extremely pleased that Heather and the Matheys Lane team will be joining SCS,” said Rudy Adolf, Founder, CEO and Chairman of Focus. “This transaction not only expands SCS’s presence in the ultra-high net worth market, but brings together two highly complementary businesses and further reinforces the value of Focus’ scale, network, and highly differentiated M&A expertise to our partners. The business expansion that our partner firms achieve via acquisitions is a powerful catalyst to the overall growth of our partnership.”
About Focus Financial Partners Inc.
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 www.focusfinancialpartners.com.
SCS is a leading wealth and investment management firm that focuses on ultra-high net worth families and institutions. SCS offers fee-based expert advice that helps wealthy families feel secure and confident in their financial futures. Full services encompass critical areas, including Financial Planning and Investment Management. SCS prides itself in its independent, unwavering approach, and all clients benefit from its honesty in helping them pursue their personal objectives. For more information about SCS, please visit www.scsfinancial.com.
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