and Taking Focus Financial Partners Private in a deal that would value the company at more than $7 billion Expected to end next quarterthe company shrank revenue in the first quarter.
Rudy Adolph, chief financial officer and chief financial officer of the New York-based registered investment advisory firm Acquirer Jim Shanahan said in a post-focus earnings call with analysts in less than 10 minutes. spoke in a prepared remark of First Quarter Results Disclosed May 4th. The company’s fourth quarter earnings Neither asked any questions after their comments.
The company has not released its forecast for the second half of the year, and Focus will not disclose earnings for the next quarter if the buyer, Clayton, Dubilier & Rice, has already completed the acquisition.
Falling stock and bond values have reduced revenue for Focus, which classifies 75% of its revenue as market-related and derives 96% of its business from wealth management fees. Since the company’s founding in 2006, he has over 290 transactions, 5,900 financial advisors and other employees, and his 90 partner RIAs.early private equity investor IPO in 2018At the end of the call, Adolf took the time to praise his company partners.
“In an environment like the one we experienced last year, it demonstrates the value of our industry leadership and what they do, and positions us for solid growth and performance as financial markets recover,” he said. said. “[Co-founders] Rajini [Sundar Kodialam]Lenny [Chang] We cannot be proud of the great partnership and the quality of business the Focus team has built with our partners over the past 18 years. We look forward to continuing to grow and evolve the company and to take advantage of the substantial growth opportunities that lie ahead of us. ”
Scroll down the slideshow to see key takeaways from the company’s first-quarter earnings from financial advisors and other wealth management professionals. To see the company’s fourth quarter income statement, click hereTo view coverage of the company’s third quarter results, please follow below. this link.