New York, NY, December 10, 2021 – Park Sutton Advisors, LLC (“Park Sutton Advisors”) is pleased to have represented Cassaday & Company, Inc. (“Cassaday”) on its announced acquisition by Focus Financial Partners, Inc. (“Focus”), a partnership of over 80 independent wealth management firms. Cassaday, located in McLean, Virginia, brings $5 billion in assets under management and immeasurable talent to the Focus partnership. Terms of the transaction were not disclosed.
Stephan Cassaday, Chairman and CEO of Cassaday, highlights, “Our strategic partnership with Focus will allow us to further enhance the level of service we are providing to our clients, while also providing a path to partnership for our next generation of talented leaders. Becoming a Focus partner firm enables us to maintain our entrepreneurial culture and operational autonomy while giving us access to resources that will help us provide an even greater level of service and attention for our clients. We will also enjoy the synergies of joining a partnership of high-quality and like- minded firms who are each industry leaders in their own right.”
“We are delighted to partner with a firm of Cassaday’s reputation. Steve and the rest of his team have created a distinctive client-centered culture, complemented by internal processes and differentiated approaches to wealth management. The firm has received impressive national and regional recognition as an industry leader.” said Rudy Adolf, Founder, CEO, and Chairman of Focus.
John Eubanks, a Director at Park Sutton Advisors, who co-led the transaction said, “This transaction represents a major talent acquisition for Focus. Steve and his team have developed an institutionalized seminar-based marketing campaign that is among the best in the industry. Focus provides Cassaday with the opportunity to remain independent while benefiting from tremendous consulting resources, synergies, and best practice.”
“The Cassaday team has built an impressive organization, one that is a DC and Virginia market leader and centered on impeccable client service and top-notch advice. This level of service coupled with a well-developed marketing approach has allowed them to grow quickly and receive many industry accolades” said Steven Levitt, Managing Director and Founder of Park Sutton Advisors, who co-led the transaction. He added, “We are so pleased the Cassaday team has found a strategic partner that will assist them in expanding their success. The Park Sutton team could not be happier to have advised our client on this important transaction.”