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Focus Financial Expands Business Team With Brokerage Vets

Focus Financial Partners is bulking up its business and operations team to attract more high-profile advisers to join its ranks.The firm, which buys interest in registered investment adviser teams who typically manage $500 million or more, has hired Mark Hovanic, an industry veteran with ties to the wealth management arms of Morgan Stanley (MS) and UBS AG (UBS, UBSN.VX), and Matt Sonnen, the former chief operating officer of the "breakaway" success story Luminous Capital Holdings.Mr. Hovanic has been in the retail brokerage industry for nearly 15 years, according to Financial Industry Regulatory Authority records, including working for Morgan Stanley. He most recently was at Cetera Investment Services."What Mark brings to the table, which we didn't have before, was really a wirehouse insider," said Focus Financial Chief Executive Rudy Adolf. "He's somebody who talks the right language, who has the right approach to the wirehouse teams. He can really articulate what the benefits are of ...

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