Focus Financial's Income, Revenues Surge

Tom Burroughes

22 February 2019

, the US-listed wealth management firm operating in North America, Canada and the UK, which recently floated on the stock market, said that its total revenues in 2018 rose by 37.4 per cent from a year before, standing at $910.9 million.

It also said that adjusted net income last year rose by 44.6 per cent to $125.3 million.

Focus, which has moved to acquire a number of firms in recent weeks, such as in Australia and Canada, said that Q4 2018 revenues rose by 30.4 per cent, standing at $247.5 million.

“Focus ended 2018 on a strong note, capping a very successful year," Rudy Adolf, founder and chief executive, said.

“We completed our initial public offering and also made significant progress against our strategy to increase our presence in the high net worth and ultra-high net worth markets,” he added.

The firm’s chief financial officer, Jim Shanahan, said that Focus Financial Partners generated nearly $1 billion in annualized revenues in the fourth quarter of 2018. The business beat its targeted 20 per cent annual growth rates in revenues and adjusted net income per share.