Focus Financial Partners said it was on track for its most successful mergers and acquisitions year to date, after closing two new partner firms, St. Petersburg, Florida-based ARS Wealth Management and based in Seattle Badgley Phelps Wealth Managers—and seven mergers on behalf of partner firms during the third trimester.

Year-to-date to November 1, the company has completed 28 transactions, including eight new partner companies and 20 mergers, including eight for its Connectus Company. The company already has three additional pending deals in the pipeline in the fourth quarter.

“I don’t see next year or any of the years to come a significant change in the pace of M&A opportunities that we see,” Rudy Adolf, Founder, CEO and Chairman, said on a call with officials. analysts Thursday. “Yes, taxation may or may not have some involvement in the United States, but let’s always keep in mind that the fundamental driver of industry consolidation, the fundamental driver of our acquisition activity is really the aging of founders and of the founding generation.”

On the analysts’ call, Adolf said the company has also begun offering dedicated fiduciary services through Focus Fiduciary Solutions, a division headed by Ted Simpson, a former senior wealth planning strategist at Wells Fargo. The company currently has a list of approximately 10 trust companies, both domestic and international, that it works with to provide these services, with plans for expansion.

“These services will create a significant opportunity for our partners, advisors, to expand and retain the assets of multigenerational clients,” Adolf said.

He also highlighted the growth of the company’s cash and credit management solutions, a nationwide network of banking and lending institutions that work with Focus partner companies at competitive pricing levels. Since launching this program, Focus has helped close $2 billion in deals.

“We see it as just using scale – the overall scale of our organization, using our buying power – to create better solutions than any of our partners or, quite frankly, any which in the industry could provide to our end customers and partners,” Adolf said.

“The central theme of all these value-added programs is ultimately to equip our partners with all the capabilities, all the skills of a high-end private banker, without any baggage,” he added. “We are really going beyond the private banker in the sense that we have introduced the concept of open architecture to the high end of the credit market.”

Overall, Focus reported third-quarter non-GAAP earnings of 98 cents per share, beating analysts’ expectations of 2 cents, according to Revenue was $454.5 million in the quarter, up 37% year-over-year, beating expectations of $9.1 million. Its partner companies reported organic revenue growth of 28.8% in the quarter, above the expected range of 24% to 27% for the quarter.


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