Focus Financial Partners (NASDAQ: FOCS) is a wealth management firm taking on the big boys at traditional brokerage firms. The company is made up of a collection of independent investment advisors, operating as a partnership. Most of its partners are registered investment advisors (RIAs) because of strict legal standards that require RIAs to put clients' interest above all others, including their own.
They say money talks -- well, it's talking, and RIAs have been grabbing market share of high-net-worth clients away from traditional brokerages for over a decade now. Despite challenges posed by the pandemic in 2020, Focus Financial Partners posted its first profit since going public over two years ago. Its focus on RIAs has provided it with a steady stream of revenue, but its aggressive expansion strategy is what put this company on my radar.
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Is Focus Financial Partners a Buy?