Focus Financial Partners says it has signed an agreement to acquire yet another registered investment advisor firm.
Founded by Glenn Ullmann in 2002 and based in Jacksonville Beach, Florida, The Ullmann Financial Group offers services covering investment management, financial planning, advanced estate planning, charitable giving, and insurance and tax strategies, according to Focus.
Ullmann manages around $580 million for 812 accounts, according to its latest Form ADV.
“We look forward to taking advantage of Focus' resources and value-added programs to benefit our clients and enhance the growth of our business,” Ullmann said in a statement. "Focus will be instrumental in assisting us as we continue attracting new clients, retaining and promoting our talented wealth management specialists, and supporting our entrepreneurial culture and ongoing independence."
The companies didn’t disclose the financial terms of the deal, which is scheduled to close in the fourth quarter.
Earlier this month, Focus said its partner firm Connectus Wealth Advisers will acquire a Massachusetts-based RIA overseeing $766 million and an Australian wealth management firm, while in September Focus announced that it was acquiring a $2.1 billion Connecticut-based RIA.
The planned addition of Ullmann is Focus’ ninth new partner firm this year, Rudy Adolf, founder, chief executive officer and chairman of Focus, said in a statement.
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