Focus to buy out management of $30bn SCS Financial in hub deal -sources (2024)

Mar 12, 2024

SCS will become the RIA financier's third hub firm for future consolidation of its RIA network.

By Ian Wenik

Focus to buy out management of $30bn SCS Financial in hub deal -sources (2)

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RIA financier Focus Financial Partners is in talks to buy out the management of $30bn affiliateSCS Financial, according to sources with knowledge of the situation.

A deal between the two companies is slated to close ‘imminently,’ one source told Citywire.

SCS will become a ‘hub’ firm for Focus when the transaction closes, according to sources with knowledge of the situation. Focus is using ‘hub’ firms to acquire other Focus-affiliated RIAs as part of the company’s new strategic plan to consolidate its network of wealth managers.

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Focus to buy out management of $30bn SCS Financial in hub deal -sources (2024)

SCS will become the RIA financier's third hub firm for future consolidation of its RIA network.

To continue reading, register for a free Citywire account

To read this article please sign in

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Leave a comment

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