Focus Financial has announced its IPO on the Nasdaq, marking the development with a celebration at the stock exchange’s Times Square headquarters.
The private equity-backed firm entered the Australian market in May 2016 with Melbourne boutique MW Lomax joining the network, followed by the subsequent acquisition of Queensland-based advice outfit Financial Professionals.
Focus chief executive Rudy Adolf said the IPO has broader significance for the independent wealth management market in the US.
“This is not just a great step for Focus, but this is truly a major event for the RIA industry. Our success is a reflection of the unstoppable trend towards higher quality advice, only provided by fiduciary advisors,” Mr Adolf said.
“We are excited to continue on journey with our dedicated partners and employees, and are looking forward to operating as a public company on the Nasdaq Stock Exchange.”
