Focus Financial Partners has invested in Indiana-based registered investment advisor Pettinga Financial Advisors in a deal that effectively expands Focus' asset under management base to more than $40 billion.

The Focus family was established in 2006 with four partner firms and $3.5 billion in combined AuM and has since grown to 20 partner firms and affiliates and more than 650 employees worldwide. The company has been partnering with various companies with a concentration on one or a combination of three key areas: private wealth management for high net worth families and individuals, institutional investment consulting, or retirement plans.

"We are delighted to celebrate our five year anniversary by crossing the $40 billion [AuM] threshold. We see tremendous opportunities for the Focus family as the sea change continues with astute investors increasingly choosing to work with sophisticated independent wealth management firms," Rudy Adolf, founder and chief executive of Focus Financial Partners, said in a statement.

Pettinga, which records around $600 million in assets, has been providing fee-only financial advisory services to wealthy individuals and families in the Indiana-Illinois-Kentucky tri-state area for more than 16 years. It typically works with clients with a minimum of $500,000 in investable assets.