Industry-leading platform and premier practice management firm join forces
BERNARDSVILLE, N.J., May 10, 2023 /PRNewswire/ -- FLX Networks, the technology platform dedicated to modernizing, simplifying, and revolutionizing engagement between asset managers, wealth management firms, and financial advisors, today announced they have signed a letter of intent to acquire Focus Partners, a nationally recognized practice management firm.
Focus Partners' extensive practice management capabilities are an industry-leading solution and a proven partner to many of the largest and fastest growing advisor teams. "As a compound company, this acquisition represents a natural vertical integration of an existing partner on the FLX Solutions Exchange. Additionally, it provides a valuable and scalable resource to the wealth management firms and their financial advisors joining FLX Networks," said Brian Moran, FLX founder & CEO.
"We couldn't be more excited to join FLX Networks," said Michael Silver and Eric Sheikowitz, co-founders of Focus Partners. "Practice Management, coaching, and value-added content have never been more important in our industry than they are today. With the power of FLX Networks, we will be able to bring industry-leading solutions to a much broader audience and user base."
"We see demand and utilization growing further, with engagements at enterprise, branch, and team levels," said Mark Spina, FLX President and CRO. "Focus Partners has proven themselves one of the best in the business. We are pleased to add this to our solution set for our members in traditional live settings and more modernized on-demand offerings. Overall, Focus Partners will advance FLX's position as a modern network of investment and business solutions."
Focus Partners will retain its company name in the near term, with plans to transition to "FLX Networks" by the end of 2023. The division will be led by Focus Partners founders Eric Sheikowitz and Michael Silver.
About Focus Partners
Focus Partners is an industry-leading practice management firm who coach and consult financial advisors, wealth management firms, and asset managers.
About FLX Networks
FLX Networks revolutionizes engagement for asset and wealth management firms and financial advisors. FLX community members access thought leadership, investment ideas, business resources, and industry connectivity in one centralized destination, delivering productivity, savings, and growth.
SOURCE FLX Networks
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