Focus Financial Network, Inc. (Minneapolis)

Name: Focus Financial Network, Inc.
Address: 1300 Godward Street Ne, Minneapolis, MN, 55413
Telephone: 651-631-8166

Focus Financial Network, Inc. is a large advisory firm based in Minneapolis. It manages $2.83 billion of regulatory assets for 19,688 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 39 other states.

Focus Financial Network provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Focus Financial Network: assets under management

The assets under management (AUM) of Focus Financial Network, Inc. is $2.83 billion. The firm's AUM has grown by 217% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.47 billion in discretionary accounts and $355.9 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $146.49 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $126.79 thousand.

Focus Financial Network has custody of $396.38 million in cash and securities for 1,632 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 61% of the total AUM. The second-largest asset type is exchange traded securities, which make up 34% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Focus Financial Network, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Focus Financial Network serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Focus Financial Network is individuals with 7,737 clients and $1.74 billion of assets under management. Among the 12 most similar advisory firms, Focus Financial Network has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $2.83 billion for 16,097 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Focus Financial Network doesn't advise any private funds.

Careers at Focus Financial Network, Inc.

The company employs 162 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 120 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Focus Financial Network, Inc. is owned by David William Beissler. Matthew David Nelson joined the executive team most recently as the Owner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
William Robert Bergstrom	Executive officer	1 May 2006	Other	1296561
John Kyle Watkins	Executive officer	1 May 2006	Other	1285779
John Patrick Layton	Exective officer	1 May 2006	Other	1363732
David Kenneth Heitkamp	Executive officer	1 May 2006	Other	1187125
Michael Scott Dales	Executive officer	1 May 2006	Other	1606303
John Harris Dritz	Senior officer	1 May 2006	Other	1460968
John Gregory Bina	President, chief compliance officer	1 May 2006	Other	2129365
David William Beissler	Owner	1 Mar 2019	Other	4177136
Matthew David Nelson	Owner	1 Mar 2019	Other	3025011

Based in Minneapolis

The principal office where Focus Financial Network, Inc. performs its advisory services is located at 1300 Godward Street Ne, Minneapolis, MN 55413, which is also the mailing address of the firm. An additional office of the firm is in St. Charles, MN. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 651-631-8166 or by fax 651-631-1139. The normal business hours are 9 a.m. to 4 p.m. on Monday - Friday. You can find more information about the New York firm at focusfinancial.com.