Focus Financial Partners Inc. has entered into a acquisition agreement under which its partner firm Connectus Wealth Advisers will join Horan Capital Management, a $723 million AUM registered investment advisor located in Hunt Valley, Md., according to a news release.

The transaction is expected to close later this month, pending customary closing conditions, the release said.

Horan, a boutique wealth management firm, provides transparent, independent, and comprehensive investment management and wealth planning services, primarily to wealthy individuals and families, the release said. John Heinlein, Horan's CEO and senior portfolio manager, said the partnership will enable him and his team to focus on investment management, which is at the core of the value they deliver to clients.

“Leveraging Connectus' shared resources to support our business will enable us to increase our operational efficiency and deepen our investment management and financial planning capabilities. Having Focus as a strategic partner will allow us to expand our client services and accelerate the growth of our business in the near-term, while solving for succession and continuity of client experience in the long-term,” he said in a statement.

Noting that this is the 15th merger on behalf of Focus’ partner firms and the 22nd M&A transactions year to date, Rudy Adolf, founder, CEO and chairman of Focus, said Horan substantially expands Connectus’ footprint and establishes its presence in the Mid-Atlantic wealth management market. “Connectus complements Focus’ growing partnership and addresses an important strategic need in the independent wealth management market,” he said.

Adolf added that the Connectus model is an outstanding example of how they are leveraging their scale and expertise to help wealth management advisors better serve their clients, optimize their efficiency and solve for growth. He said he anticipates that Connectus will expand its presence globally.

Connectus, with offices in New York and Austraila, is designed for founders and teams who want to continue managing their client relationships and maintaining their boutique cultures while gaining the operational efficiencies of shared services, the release said. As a consortium, it offers integrated technology, investment support and centralized services, including compliance, accounting and talent management. 

Headquartered in New York City, Focus Financial Partners Inc. is a partnership of independent, fiduciary wealth management firms.