Focus Financial fills another hole, buys niche RIA

Focus Financial Partners LLC announced the acquisition of Hufford Financial Advisors LLC today. It marks the fifth deal the firm has made this year, adding a total of about $6 billion to its assets under management from the deals. The transaction took affect on Sept. 30.

Hufford, based in Indianapolis IN, focuses on dentists, providing accounting and practice management services along with financial planning and investment advice. The firm grew out of Brian Hufford’s accounting practice dedicated to dental professionals which was founded in 1977. It has over 700 clients and manages approximately $900 million in assets. Mr. Hufford is the twenty-second partner in Focus Financial.

“We essentially offer family office services for dental professionals to organize and simplify their financial picture,” said Mr. Hufford in a press release. “By partnering with Focus, Hufford will be able to continue its growth well into the future, providing opportunities for the Hufford team to keep building its leadership position and provide the best new ideas to our clients.”

Focus Financial has of late been one of the more active buyers of RIA firms in the country. Since its founding in 2006 with four partner firms and $3.5 billion in assets under management, Focus Financial has now acquired 20 firms and has over $45 billion in assets under management.

“Focus continues to look for best-of-breed practices to add to our mix of businesses, and Hufford is clearly a leader in the area of holistically serving the dental community,” said Rudy Adolf, CEO of Focus Financial Partners. “We look forward to helping them grow this successful model.”