Focus Financial is ringing in the new year by marking a major expansion to its internal consolidation strategy.
On Monday, Focus Financial Partners announced Cardinal Point Capital Management as its latest wealth hub, underscoring its commitment to Canada as a growth market within the North American wealth management sector.
Founded in 2009 and based in Toronto, Cardinal Point specializes in cross-border wealth management, offering investment, estate, tax, and financial planning services to high-net-worth individuals and business clients in the US and Canada. The firm reported managing approximately CAD 3.1 billion in regulatory assets as of September 30, 2024.
Jeff Sheldon, co-founder and CEO of Cardinal Point, noted how his firm has grown rapidly alongside the wealth industry at large since its 2021 acquisition by Focus.
“While we have doubled our regulatory assets under management over that time, added new team members, and successfully launched our business-management division, which caters to professional athletes, we recognize the increasing importance of firms taking proactive steps to innovate and continue providing clients with best-in-class capabilities and expertise,” Sheldon said in a statement Monday.
Cardinal Point will now serve as a hub firm for Focus in Canada, enabling it to take on a broader leadership role in the region. Michael Nathanson, CEO of Focus Financial Partners, emphasized the significance of Cardinal Point’s expertise.
“Cardinal Point has a differentiated value proposition in the Canadian market as one of the only full-service, cross-border wealth management firms. With exceptional leadership and client-service teams, Cardinal Point is well positioned to lead Focus’ consolidation and expansion efforts in Canada,” he said.
Cardinal Point joins four other hub firms within Focus’ network including The Colony Group, Kovitz Investment Group Partners, SCS Financial, and Gelfand, Rennert and Feldman, the latter of which is also the first business management hub at Focus.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Two C-level leaders reveal the new time-saving tools they've implemented and what advisors are doing with their newly freed-up hours.
The RIA led by Merrill Lynch veteran John Thiel is helping its advisors take part in the growing trend toward fee-based annuities.
Driven by robust transaction activity amid market turbulence and increased focus on billion-dollar plus targets, Echelon Partners expects another all-time high in 2025.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
