Focus Financial Partners Inc. (NASDAQ: FOCS) revealed that it has inked a partnership agreement with Cardinal Point Capital Management Inc. and Cardinal Point Wealth Management, LLC (together, “Cardinal Point”). Cardinal Point has offered tailored investment and estate, tax, and financial planning solutions to high-net-worth individuals and families in both the US and Canada since 2009.
In the past twelve years, Cardinal Point has earned recognition as a leader in cross-border wealth management through its comprehensive approach to tackling the complex needs of its clients. The new deal brings a unique value to the Focus partnership while also increasing Focus’ presence in Canada.
The strategic partnership with Focus will not only position Cardinal Point for continued growth but will also assist in guaranteeing continuity for its clients and workers. This partnership will enable the firm to retain its entrepreneurial spirit which was extremely important to the firm. It will also offer firm access to client and business solutions that will improve its current capabilities.
In addition to this, Focus believed that Cardinal Point is an emerging leader in cross-border wealth management. So, this collaboration will add unique expertise to its collaboration as it continues building a portfolio of firms that are highly balancing. This deal further expands its partner group while also enhancing its international footprint, which is an important strategic priority.
Furthermore, it has been disclosed that the partnership is probably be executed in the fourth quarter of 2021. Its execution is dependent on the receipt of regulatory authorization and other customary closing conditions.