NEW YORK, NY / ACCESSWIRE / February 21, 2023 / 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 Cortina Business Management, Inc. ("Cortina Business Management"), a boutique multifamily office and business manager located in Needham, MA, will join Focus partner firm Gelfand, Rennert & Feldman, LLC ("GR&F"), a leading multifamily office and full-service business management firm headquartered in Los Angeles, CA.This transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
Cortina Business Management was founded in 2002 by Rose Cortina. The firm provides family office and business management services to actors, entertainers, musicians and business executives. The merger with GR&F will provide the Cortina Business Management team with additional resources and infrastructure to enhance their client service. This transaction will broaden GR&F's client base and expand its geographic presence in the Northeastern United States.
"Rose has built a tremendous business over the years. The client-first service philosophy that she and her talented team embrace will pair well with GR&F's service model," said Tyson Beem, Chief Executive Officer of GR&F. "We look forward to having them join the GR&F team."
"We are delighted that Cortina Business Management will be joining GR&F," said Rudy Adolf, Founder, CEO and Chairman of Focus. "The clients of both firms will benefit from this combination of resources and talent, and this transaction will help position GR&F for accelerated growth. Thinking innovatively and identifying opportunities for our partner firms to grow and better serve their clients are central to the value we deliver through our M&A expertise."
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.
About Gelfand, Rennert & Feldman, LLC
Gelfand, Rennert & Feldman, LLC is a leading multifamily office and full-service business management firm that provides unparalleled service to entertainers, athletes, executives and high net worth individuals. GR&F offers a comprehensive range of business management services and tax services customized to suit clients' unique financial needs. Headquartered in Los Angeles, CA, GR&F has offices in New York, NY, Nashville, TN, and London in the United Kingdom. For more information about GR&F, please visit http://www.grfllp.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 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.
Investor and Media Contacts
Tina Madon
Senior Vice President
Head of Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-813-2909
tmadon@focuspartners.com
Charlie Arestia
Vice President
Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-560-3999
carestia@focuspartners.com
SOURCE: Focus Financial Partners Inc.
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