Focus Financial Partners is acquiring a Los Angeles-based RIA with more than 7,000 customers and $9.4 billion under management, according to an announcement on Thursday.
Churchill Management Group will become part of Focus Partners Wealth, a Focus Financial subsidiary managing $96 billion, according to the announcement and regulatory filings. The deal comes as Focus Financial has been consolidating its network of RIAs into “hub” firms, and is the largest of only a few of external acquisitions announced since Focus was taken private in 2023 by private equity firm Clayton, Dubilier & Rice.
“M&A remains an avenue for us to add high-quality firms that are committed to evolving for the benefit of their clients,” Michael Nathanson, CEO of Focus Financial Partners, said in a statement.
Specific terms of the purchase were not disclosed. Focus said it expects to complete the deal by the third quarter.
Churchill, founded in 1963, has 42 advisors. It is owned primarily by founders, senior executives and related family trusts, according to its Form ADV filing. The firm will retain its brand after the deal “for a period of time” before being dissolved into Focus Partners Wealth.
Focus Partners Wealth was formed in 2024 through the merger of two large Focus subsidiaries and rebranded in January from The Colony Group. It is the largest of the six hubs under Focus Financial, which oversees around $400 billion in assets.
This year, Focus Financial has announced a spate of promotions of senior Focus Partners leaders to roles at the parent company. Adam Birenbaum, CEO of Focus Partners Wealth, became president of Focus Financial; Justin Ferri, co-president of Focus Partners Wealth, was named chief of operations; and Zinovy Iosovich, its other co-president, stepped into the role of chief growth officer for the parent.
Focus Financial also hired Jason Dubinsky, former Morningstar chief financial officer, for the same role and Mark Israel, the former head of technology at RIA giant Fisher Investments, as chief of technology.
