Focus Financial Partners has agreed to take a stake in Ancora Holdings Inc., the parent of four advisory firms managing more than $2 billion. The firm is based in Cleveland.
Terms of the agreement were not disclosed. The transaction is expected to close in the fourth quarter.
Its stake in Ancora will expand Focus' presence in the Midwest high-net-worth market.
Ancora, founded in 2003, is employee-owned and managed by a seven-person executive team led by Fred DiSanto, its chairman and CEO.
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