NEW YORK & SOUTHFIELD, Mich., Aug 12, 2013 (BUSINESS WIRE) -- Focus Financial Partners, LLC, the largest partnership of independent wealth management firms, announced today that Telemus Capital Partners, LLC, one of Michigan's leading independent Registered Investment Advisors (RIA) with over $2.2 billion in client assets, has joined forces with Focus as of August 1.
Telemus, with offices in Southfield and Ann Arbor, Mich., was founded in 2005 by former Merrill Lynch and UBS Financial Services executives Gary Ran, Bob Stone, and Lyle Wolberg. All three partners will continue to lead operations at Telemus moving forward.
The firm offers a range of advisory services including investment management, financial planning, retirement and estate planning, life insurance and tax consulting to nearly 600 clients nationwide.
Gary Ran, partner and chairman at Telemus, said, "Our new partnership provides the Telemus Capital team access to the financial, marketing and operational support of Focus, thereby allowing more resources and time to be directed to growing and preserving client wealth and attracting new talent."
Gary Ran has been listed in the top 50 of Barron's annual Top 100 Financial Advisors ranking every year since the inception of the survey.
Rudy Adolf, founder and CEO of Focus, said, "With the addition of Telemus, we have brought in a very attractive, top independent advisory firm to our growing partnership and have expanded our Midwest presence. Telemus will contribute to our vast network of experienced investment management teams, and will help attract other quality brokers and independent advisors to Focus."
"Over the past eight years, we've built a successful investment advisory firm that provides customized solutions to our loyal client base," added Lyle Wolberg, partner and senior advisor at Telemus. "A key reason for our decision to join Focus was to further enhance our client offering by leveraging Focus' resources and best practices in areas such as talent recruitment, investments and operations."
In addition to Gary Ran, Bob Stone, and Lyle Wolberg, Mary Bakhaus and Joshua S. Levine are partners at Telemus. The firm has ten advisors.
Telemus is the third Midwest firm to join the Focus partnership in less than a year and is the fifth transaction for the firm in 2013.
About Focus Financial Partners
Founded in 2006, Focus Financial Partners, LLC, is the leading international partnership of independent, fiduciary wealth management firms. With over $250 million in revenue and 27 partners, Focus provides wealth management, benefit and investment consulting services to individuals, families, employers and institutions. Clients benefit from Focus' independence, as well as unrivaled access and continuity. Focus principals maintain their entrepreneurial independence, benefit from the synergies, scale, economics and best practices of the market leader and achieve an eventual, smooth ownership transition. Focus was included on Inc. magazine's 5000 ranking of the nation's fastest-growing private companies in 2011 and 2010. In 2012, Focus was named a Crain's New York Business "Fast 50" growth firm in New York City. For more information, please visit www.focusfinancialpartners.com.
Telemus Capital Partners, LLC
Telemus is an independent advisory firm focused on providing solutions for investment and asset management, as well as wealth advisory services for high-net-worth individuals. Founded in 2005, Telemus has offices in Southfield and Ann Arbor and serves clients across the country. For more information, please visit www.telemuscapital.com.
SOURCE: Focus Financial Partners, LLC