Focus Financial Partners merging firms in Grand Rapids and Petoskey
A financial services group has acquired a Petoskey company and is merging it with a Grand Rapids partner company.
New York-based Focus Financial Partners Inc. (Nasdaq: FOCS) – a partnership of independent, fiduciary asset management firms – announced last week that it had reached a definitive agreement, according to Investment Counsel Inc., a registered investment advisor in Petoskey, to do so Join Focus-affiliate LaFleur & Godfrey (L&G) based in Grand Rapids.
The terms of the contract were not disclosed. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions.
Chris Walker Courtesy Investment Counsel
Under the direction of Chris Walker, President, Investment Counsel provides portfolio management services to high net worth individuals, families and institutions. According to Focus Financial, Walker and his team will improve the investment capacity available on L & G’s holistic wealth management platform and further expand their presence in West Michigan. In return, the Investment Counsel team will benefit from L & G’s resources and robust infrastructure to further improve the customer experience.
“We are very excited to be joining a LaFleur & Godfrey company,” said Walker. “With this transaction, Investment Counsel can leverage L & G’s extensive resources and develop a long-term continuity plan so that Investment Counsel clients are always served.”
Dan Van Timmeren Courtesy LaFleur & Godfrey
Dan Van Timmeren, Partner and Senior Portfolio Manager at L&G, said his company is “excited to welcome Chris and his talented team”.
“Our companies share a similar customer-first-service perspective,” said Van Timmeren. “Investment Counsel’s extensive investment management know-how fits in well with our core competencies. This combination enables us to offer all of our clients an even wider range of wealth management services. “
Rudy Adolf, Chairman and CEO of Focus, said Focus was “pleased” with the merger.
“This is L & G’s second transaction in the last 12 months and another demonstration of how we can help our partner firms improve their customer service skills through our differentiated M&A and sourcing expertise,” said Adolf. “This transaction also strengthens our know-how in structuring innovative succession planning solutions for founders who want to transform their business.”