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Focus Financial firm to acquire $723 million RIA

Horan Capital Management, a registered investment adviser managing $723.4 million in Hunt Valley, Maryland, is being purchased by Connectus Wealth Advisers, a British-based international consortium of advisory firms that is owned in part by Focus Financial.

According to a statement, the deal will give Connectus a presence in the mid-Atlantic region.

The transaction is expected to close later this month.

The deal is Focus Financial’s 22nd M&A transaction this year, the statement said. Earlier today, Focus announced that it had made an investment in in Kavar Capital Partners, a Leawood, Kansas-based RIA managing $682 million.

[More: Focus Financial reports higher net third-quarter income]

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