Focus Financial Partners has added West Virginia-based RIA Lanham O’Dell & Company to its ranks, the RIA roll-up announced after the market closed on Monday.
Lanham O’Dell, which had six advisors managing around $652 million for over 850 clients as of September, according to a form ADV filed with the Securities and Exchange Commission, is the oldest private RIA in the state, Focus Financial said. The firm also maintains offices in Hurricane, W.V. and Jupiter, Fla.
Financial terms of the deal, which is expected to close in the first quarter of 2019, were not disclosed.
‘Focus impressed us with its innovative partnership model, access to capital and best practices. We are looking forward to utilizing the many resources they offer to keep a leading edge in all services we provide,’ Lanham O’Dell co-founder Bob O’Dell said in a statement.
Focus Financial also announced that it has merged David Weise & Associates, an Encino, Calif.-based business management firm into one of its existing partner firm NKSFB, another business management company. Both companies specialize in working with the entertainment industry.
‘We will continue to help our partner firms enhance their service offerings through access to our capital and resources,’ Focus Financial chief executive Rudy Adolf said.
The deal is Focus' third in two weeks. The firm announced on New Years Eve that two of its subsidiaries -- The Colony Group and Gelfand, Rennert & Feldman -- had made tuck-in acqusitions.