Telemus, which has offices in Southfield and Ann Arbor, Michigan, has more than $2.2 billion in client assets. The 10-adviser firm offers investment management, financial planning, retirement and estate planning, life insurance and tax consulting to nearly 600 clients throughout the U.S. The three founding partners, Gary Ran, Bob Stone and Lyle Wolberg, will continue leading operations at Telemus. The partners are former executives with Merrill Lynch and UBS Financial Services. Mary Bakhaus and Joshua S. Levine are also partners.
The addition of Telemus solidifies Focus Financial’s Midwest presence, the company said in a statement. Telemus is the third Midwest firm to join the Focus partnership in less than a year and is the fifth transaction for the firm in 2013. Telemus will contribute to its network of investment management teams. Focus intends to continue attracting other brokers and independent registered advisers (RIAs), according to Rudy Adolf, founder and chief executive of Focus.
Wolberg, partner and senior adviser at Telemus, said Focus’ resources and best practices in talent recruitment, investments and operations would help the firm enhance its client offering.
The partnership will give the Telemus team access to the financial, marketing and operational support of Focus, which will allow them to direct more resources and time to expanding and preserving client wealth and attracting new talent, according to Ran, partner and chairman at Telemus.