Focus Financial Network, a registered investment advisor overseeing $9.5 billion in client assets, has planted its flag on the East Coast for the first time with a new office in Winchester, Virginia. The firm, which has historically concentrated its operations in the Midwest, said the move is part of a broader national expansion strategy.
Joining the firm to lead the new location is Jennifer McDonald, QPFC, a 23-year wealth management veteran who has resided in Frederick County for 34 years. McDonald brings a practice centered on financial planning, retirement income and distribution strategy, investment management, and risk management. She described the move as an opportunity to leverage Focus Financial Network's scale and industry standing, as well as its backing from Osaic Inc., one of the largest wealth management platforms in the United States.
“Joining Focus Financial Network allows me to take my practice to the next level, while continuing to provide a high level of service clients have always received,” McDonald said in a statement. “I'm excited about what this means moving forward and the opportunity to continue serving the Winchester community.”
Focus Financial Network positions itself primarily as a financial planning firm, and leadership emphasized that McDonald's planning-first approach aligned with the firm's ethos. Bina, president of Focus Financial Network, said in a release: “Jenn's commitment to financial planning and exceptional client service makes her a natural fit for Focus Financial Network. As we continue expanding beyond the Midwest, we're focused on collaborating with experienced advisors who share our planning-first philosophy and long-term commitment to helping clients achieve their financial goals.”
The expansion comes amid a wave of RIA growth and consolidation across the industry. For context, Carson Group recently acquired a $236 million California RIA, extending its West Coast footprint, while Coastal Bridge Advisors completed a three-way merger to create a $10 billion RIA. Focus Financial Network's move into the Mid-Atlantic region signals a similar appetite for geographic diversification.
McDonald also holds the role of Vice Chair on the Winchester Medical Center Foundation Board, where she has volunteered for more than 15 years, and serves as a Girl Scout leader. She and her husband, Matthew, have three children.
The Winchester office marks Focus Financial Network's first location east of the Mississippi River, and the firm indicated that additional East Coast offices may follow as it continues to seek advisors who share its planning-centric approach.
