Fidelity exec signs on with Focus Financial
Focus Financial Partners LLC today announced it has hired Mark Dupont as director of adviser services.
Focus Financial Partners LLC today announced it has hired Mark Dupont as director of adviser services.
Mr. Dupont, formerly an implementation manager at the custody unit of Fidelity Investments, will be responsible for transitioning breakaway advisers to the RIA firms that are part of the Focus network.
Focus provides consulting and financing services for new and existing advisory firms. It has 20 firms in its network, with $40 billion under management.
At Fidelity, Mr. Dupont was involved in transitioning about 50 teams with $7 billion in assets, primarily from wirehouse firms.
But he said his new role at Focus is different.
“What’s exciting about Focus is that it’s involved in the development and building of [new advisory] businesses,” Mr. Dupont said. “At the custodians, that part is already done.”
“Fidelity is a very important strategic partner for us,” said Rich Gill, Focus vice president and Mr. Dupont’s boss.
Mr. Dupont’s background at the firm “will be a great advantage for us,” Mr. Gill said.
The wirehouses remain a key target market for Focus firms, which tend to be top-end teams.
Despite some reports that recruiting activity has slowed, “we’re seeing a ton of activity in the wirehouse space and the non-independent space” overall, Mr. Gill said.
Learn more about reprints and licensing for this article.
