NEW YORK, NY / ACCESSWIRE / January 30, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ('Focus'), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Alliance Benefit Group Southwest, LLC ('ABGSW'), a retirement administration and record-keeping firm based in Albuquerque, NM, will join Focus partner firm Sentinel Benefits Group, LLC, which is part of Sentinel Group ('Sentinel'), headquartered in Wakefield, MA. The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.

ABGSW delivers administration and recordkeeping services and solutions that support workplace retirement and benefit plans across a wide range of industries both regionally and nationally, including a number of tribal retirement and per capita plans. ABGSW will expand Sentinel's geographical reach and deepen its expertise in providing retirement plan recordkeeping and administration services, including to Native American tribes and their commercial enterprises. This transaction will position Sentinel for further growth in the Southwest and enable it to leverage a strong team with extensive experience.

'We have known Dennis Davis and the ABGSW team for over a decade and we have been incredibly impressed with their organization. We are thrilled to welcome them to the Sentinel family,' said Sam Mitchell, CEO of Sentinel. 'They have built an outstanding reputation in the retirement industry and bring an excellent team to Sentinel that will further position Sentinel for success in the years to come.'

'Having known the group at Sentinel for many years, we know that we share a commitment to excellent client service. Sentinel's national presence and broad service offering will allow us to accelerate the growth of our business and provide a differentiated offering to our clients. Becoming part of Sentinel is a catalyst for taking ABGSW to the next level, both for our clients and our employees,' said Dennis Davis, Principal of ABGSW.

'We are delighted that ABGSW will be joining Sentinel,' said Rudy Adolf, Founder, CEO and Chairman of Focus. 'This is Sentinel's sixth merger since joining Focus and will further enhance the depth and scale of its retirement plan business. ABGSW will allow Sentinel to expand into a new client segment and add a talented team of individuals based in the Southwest, as well as a loyal client base. Since joining the Focus partnership, Sentinel has continued to grow into new geographies and added additional service offerings, demonstrating the value that we offer our partner firms in helping them scale their businesses within their specific areas of expertise.'

About Focus Financial Partners Inc.

Focus Financial Partners Inc. (NASDAQ:FOCS) ('Focus') is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.

About Sentinel Group

Sentinel Group ('Sentinel') provides employee benefits and financial services and is located in Wakefield, MA with additional offices in Troy, MI and Long Island, NY. Sentinel serves both individuals and institutions, providing offerings including employee benefits and retirement plan administration, open architecture retirement plan recordkeeping, investment advisory services, defined benefit and cash balance plan services, actuarial consulting, employee stock ownership plans, and group benefits brokerage. For more information about Sentinel, pleasevisit https://www.sentinelgroup.com.

Cautionary Note Concerning Forward-Looking Statements

This release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.

Investor and Media Contacts

Tina Madon
Senior Vice President
Head of Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-813-2909
tmadon@focuspartners.com

Charlie Arestia
Vice President
Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-560-3999
carestia@focuspartners.com

SOURCE: Focus Financial Partners