Focus Financial Partners, a leading US wealth advisory firm, has acquired Cheshire-based Watterson Financial Planning.

Watterson, an appointed representative of Sense Network Limited, will join Connectus Wealth Advisers, a wealth manager owned by Focus.

Focus has offices in New York and San Francisco and is expanding internationally with a recent acquisition in Australia via its Connectus arm.

The deal will give Connectus a foothold in the UK with further expansion possible.

Focus Financial Partners Inc is a partnership of independent, fiduciary wealth management firms and recently set up Connectus to acquire adviser firms.

This transaction is expected to be concluded in the first quarter of 2021 subject to regulatory approval. The cost of acquisition has not been disclosed.

Connectus aims to provide comprehensive wealth management advice through firms which retain their own brands. In the US it owns Atlas Private Wealth Management of Albany, New York and in Australia Brady & Associates Financial Advisers of Sydney.

Connectus says it is “designed for founders and teams who want to continue to manage their client relationships and maintain their boutique cultures.”

Firms can access Focus’s network and capital raising ability.

Watterson Financial Planning is an independent firm based in Knutsford, Cheshire.

It provides  investment management and holistic Financial Planning, including retirement, inheritance, tax and insurance planning, to high net worth individuals and corporate clients throughout the UK.

Craig Watterson, director of Watterson Financial Planning, said: “We are very pleased to be joining Connectus. The partnership will enable us to maintain our highly personalised client service model while providing access to the resources and expertise necessary to enhance our existing client experience and ensure continuity for both our clients and employees.

“Connectus will provide the reach and scale of a global partnership without compromising the boutique nature of our firm."

Rajini Kodialam, co-founder and chief operating officer of Focus, said: “We are thrilled that the Watterson Financial Planning team will be joining Connectus.”

"Watterson Financial Planning will be Connectus first expansion into the UK and we could not be more excited to partner with a firm that brings the reputation and entrepreneurial spirit that is so critical to the success of independent firms.”