Focus Financial Partners has bolstered its network with the addition of Chicago-based Vestor Capital Partners, a fee-based RIA firm with over $500 million in assets under management.

The move brings Focus’s total number of partner firms and affiliates to 24 and represents its fifth transaction so far this year.

Based largely in the Chicago area, Vestor provides a range of wealth management services, including investment management, financial planning, retirement planning, insurance, estate/wealth transfer planning, business succession services and income tax planning to high net worth clients.

“At the core, the Focus model is based on preserving our independence while allowing us to access resources so we can actively pursue our vision," said Brian Baker, president and chief investment officer at Vestor.

In other recent developments at Focus, in September Founders Financial Network and Buckingham Asset Management - both Focus Financial partner firms - entered into an agreement in which the former will merge into the latter, creating a $17 billion RIA powerhouse in St Louis, MO.  

Focus Financial Partners was established in 2006 and employs 750 staff, including 100 partners. It provides wealth management, benefit and investment consulting services to individuals, families, employers and institutions.