RIA aggregator Focus Financial Partners is acquiring a Denver-area firm to fold into one of its partner entities, Transform Wealth LLC.
The firm said that Custom Portfolio Group LLC of Englewood, Colo., will join Transform in a deal expected to close in the fourth quarter. According to its Form ADV, Custom Portfolio Group has $175.6 million in assets under management. On its ADV, the firm lists 88 clients, 50 of whom were high-net-worth clients accounting for $147 million of the firm’s AUM.
The firm was founded in 2011 by its previous sole owner, David Twibell.
Transform Wealth has some $2.5 billion in AUM, according to its own Form ADV for 2024. The firm partnered with Focus Financial in 2016 and has absorbed other Focus acquisitions in Colorado, including Strategic Capital Advisers and Weatherstone Capital Management (the latter was purchased when Transform was known as the Carnick & Kubik Group).
Focus said in a press release that Custom Portfolio Group serves individuals, families, non-profit organizations, and businesses and offers wealth planning, retirement advice, and strategic investing expertise. Focus said the deal will allow the Custom Portfolio Group to gain access to Transform’s financial planning and investment advisory services, and that Transform will be able to build out its Colorado presence.
Focus has been in the news largely for its restructurings this year, including the merger of two big legacy names in the advisory business. In May it said it was combining Buckingham Strategic Wealth in St. Louis and the Colony Group in Boston. Private equity manager Clayton, Dubilier & Rice bought Focus last year and took it private. Michael Nathanson, the CEO of Colony, took over the chief executive officer reins at Focus in April.
“Providing exceptional service to our clients has always been a fundamental principle for us. When we connected with Transform, it was evident that our values were in sync,” said Twibell. “We are eager to collaborate with their larger, skilled team to enhance our client service offerings as we move into the next stage of our growth.”
“This exciting deal joins two established, like-minded investment and wealth planning firms based in the Denver area and is a great example of our team cultivating a meaningful relationship over a period of several years,” said Travis Danysh, chief corporate development officer at Focus. “After getting to know David and his team, we are confident in their ability to seamlessly work with Transform to deliver an excellent client experience with access to a deeper array of tools and capabilities.”