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Focus Financial Adds Family Office in New York

By Alex Padalka December 19, 2018

Focus Financial is wrapping up 2018 with three new additions in New York, Pennsylvania and Oregon, the company says.

The New York-based family office and business management firm Altman, Greenfield & Selvaggi has signed a definitive agreement to join Focus, according to a press release from Focus.

Founded in 1986 by Abraham Altman and Frank Selvaggi, AG&S offers concierge-style services and caters to the entertainment industry, Focus says.

“Focus has been attracting a growing number of independent wealth management firms, with an increase in the ultra high net worth space in recent years. AG&S will be our first family office and business management firm to be headquartered in New York, making them an ideal hub for additional acquisitions,” Rudy Adolf, founder, CEO and chairman at Focus, says in the press release.

Additionally, Pittsburgh, Pa.-based independent wealth management firm Alpern Wealth Management, founded in 2012, and Ashland, Ore.-based Griffon Financial Planning, founded in 2000, have signed definitive agreements to join Buckingham Strategic Wealth, a RIA partner of Focus Financial, according to the press release.

The additions will expand Buckingham’s presence in Pennsylvania and give it a footprint in the Pacific Northwest, Focus says.

“Buckingham continues to be exemplary in M&A and growth. Helping to connect like-minded entrepreneurs and turbocharging their growth is what we always strive to do here at Focus,” Adolf says in the press release. “We are very excited to be continuing to execute on our robust pipeline.”

Ruediger Adolf

The companies did not release the terms of the deals.

Focus Financial has been on an aggressive acquisition streak in recent months, and it’s paid off: In the third quarter, the firm’s revenue was up more than 30% year over year.