NEW YORK--()--Focus Financial Partners Inc., an interdependent partnership of wealth management, business management, and related financial services firms, announced today that two Focus network firms, Lake Street Advisors Group, LLC and Edge Capital Group, LLC, have each entered into definitive agreements to join SCS Financial, Focus Partners Family Office and OCIO, headquartered in Boston, MA. Both transactions are expected to close in the first quarter of 2025, subject to customary closing conditions.

By joining forces with SCS, Lake Street and Edge will gain access to SCS’ deep investment management capabilities as well as expanded family office services, enriching the value proposition that each firm offers to its respective clients. Through these transactions, SCS will benefit from the addition of two talented, client-first teams that collectively include more than 70 advisors and other professionals experienced in serving ultra-high-net-worth clients. Lake Street furthers SCS’ presence in the Northeast region of the United States, while Edge expands the SCS presence in the Southeast and Southwest regions of the United States.

Upon completion of both transactions, Lake Street and Edge are expected to add approximately $3.49 billion and $6.98 billion, respectively, in regulatory assets under management to SCS’ over $32 billion in regulatory assets under management, in each case measured as of September 30, 2024. These transactions are transformational in furthering SCS as one of the leading advisors of ultra-high-net-worth clients, expanding the firm’s reach across 13 offices and over 200 team members.

“At Lake Street, we are highly attuned to the challenges and opportunities facing today’s ultra-high-net-worth families and are dedicated to helping our clients address those challenges. We seize on every opportunity to further their success,” said Buddy Webb, CIO of Lake Street. “Joining SCS will allow us to tap into a broader array of industry-leading investment solutions and capabilities and, in turn, provide even more rewarding client experiences.”

“At Edge, we pride ourselves on putting clients’ interests first, and our primary goal has always been to provide a talented team that prioritizes high quality client service,” said Will Skeean, Chairman of Edge. “By joining SCS, we will gain access to a deep bench of talent and additional resources to help us continue to provide high quality solutions to clients,” added Harry Jones, Managing Partner of Edge.

“Among other core values, Lake Street, Edge, and SCS share a steadfast commitment to providing our clients with carefully tailored tools and advice for helping them understand, expand, and fully leverage their wealth,” said Tony Abbiati, CEO of SCS Financial, Focus Partners Family Office and OCIO. “We look forward to welcoming the talented Lake Street and Edge teams to SCS, and to collaborating with them to better serve our clients on their journeys towards realizing their personal and financial ambitions.”

“Similar to SCS, both Lake Street and Edge provide complementary tailored solutions to help ultra-high-net-worth clients solve complex challenges,” said Michael Nathanson, CEO of Focus Financial Partners. “We are pleased to have these like-minded teams come together to enhance each other’s capabilities, and we are excited to see SCS’ presence and position as a leader in the ultra-high-net-worth client segment grow substantially.”

About Focus Financial Partners Inc.
Focus is an interdependent partnership of wealth management, business management, and related financial services firms, rooted in a client-first approach and powered by the collective energy and capabilities of its many advisors and professionals. The Focus partnership includes wholly owned firms operated under the Focus Partners brand that reflect the company’s key business lines. Through a blend of innovative solutions, strong capital backing, and deep business expertise, Focus empowers its firms to achieve their business objectives by helping them to better serve their clients and advisors. Discover more about how Focus is evolving the wealth and business management landscape by visiting www.focusfinancialpartners.com or by following the company on LinkedIn.

About SCS Financial, Focus Partners Family Office and OCIO
SCS Financial, Focus Partners Family Office and OCIO, is a leading wealth and investment management firm that focuses on ultra-high-net-worth individuals, families, and institutions. SCS offers fee-only advice designed to put client interests first and help wealthy families and institutions feel secure and confident in their financial futures. Priding itself on its steadfast client-focused approach, SCS believes all clients benefit from its integrity in helping them pursue their personal objectives. SCS provides an integrated approach to family office and investment management, encompassing critical areas across financial planning, multi-asset class portfolio management and private investments, and a powerful technology platform. SCS manages over $32 billion in assets, measured as of September 30, 2024, and is a dedicated Family Office & Outsourced Chief Investment Officer (OCIO) business line of Focus Financial Partners. SCS is headquartered in Boston with additional offices in New York, Providence, Los Angeles, and West Palm Beach, and upon completion of the two transactions described above, will also have offices in Atlanta, Dallas, Charlotte, Lexington, Nashville, Tampa, and Portsmouth.

About Lake Street Advisors Group, LLC
For over 20 years, Lake Street has provided tailored financial solutions to ultra-high-net-worth families. The firm’s deep understanding of clients' financial lives has allowed it to foster long-lasting relationships and help them navigate the complexities of modern wealth and succession planning. For more information about Lake Street, please visit www.lakestreetadvisors.com.

About Edge Capital Group, LLC
Edge is a wealth management firm devoted to serving individuals, families, and institutions with substantial wealth by focusing on investment management, advanced financial planning, family office services, and advisor coordination to meet the financial needs of clients. Headquartered in Atlanta, GA, with five additional offices across the Southeast and Southwest regions of the United States, the firm is dedicated to helping clients accomplish their financial goals. For more information about Edge, please visit www.edgecappartners.com.