# Focus Financial

> Focus Financial is an SEC-registered investment advisory firm in Minneapolis, MN, registered since 2010, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated October 1, 2026.

- CRD: 116140
- Filed as: FOCUS FINANCIAL
- Legal name: Focus Financial Network, Inc.
- Also doing business as: BROOKLANDS, FDI INCORPORATED/FINANCIAL DESIGNS, MCMURRAY WHITNEY FINANCIAL, MERTZ WEALTH STRATEGIES, INC., MOSER & HEIER FINANCIAL SOLUTIONS, THE BASBALLE GROUP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Minneapolis, MN
- Filing period: October 2026
- Form ADV filing dated: October 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/116140
- AdvisorCensus page: https://advisorcensus.com/firm/focus-financial-minneapolis-mn-116140

## Quick answers

**How is Focus Financial compensated?**
On its Form ADV (Item 5.E, October 2026), Focus Financial reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); other.

**Where is Focus Financial located?**
Focus Financial's principal office is in Minneapolis, MN, according to its Form ADV; the September 2026 filing also lists 17 other offices (Schedule D, Section 1.F).

**Is Focus Financial registered with the SEC or a state?**
Focus Financial is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 116140.

**How much does Focus Financial manage?**
Focus Financial reports $6,823,756,233 in regulatory assets under management in its Form ADV filing dated October 1, 2026 (96% discretionary).

**How have Focus Financial's assets and staff changed since 2021?**
In the Form ADV data for Focus Financial: Regulatory assets under management: $4,166,788,948 in the October 2021 data and $6,823,756,233 in the October 2026 data, up 64%. Total employees: 202 in October 2021 and 189 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Focus Financial serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (11,863); high net worth individuals (1,697); corporations or other businesses not listed above (88).

**Which custodians does Focus Financial use?**
Focus Financial's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Pershing LLC as custodians holding 10% or more of its separately managed account assets.

**Does Focus Financial report any disciplinary disclosures?**
Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/116140

**What changed in Focus Financial's recent Form ADV filings?**
In the October 2026 filing data: Registered or notice-filed in HI.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Other

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Pershing LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $6,823,756,233
- Discretionary: $6,573,904,985
- Non-discretionary: $249,851,248

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 11,863 | $2,837,538,858 |
| High net worth individuals | 1,697 | $3,863,492,613 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 33 | $52,722,506 |
| Charitable organizations | 3 | $2,038,984 |
| Corporations or other businesses not listed above | 88 | $67,963,272 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)
- Educational seminars/workshops

### Firm details
- Registered since: 2010 (16 years)
- Employees: 189 total, 114 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, VT, WA, WI, WY
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/116140

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Alexandria, MN
- Bemidji, MN
- Bloomington, MN
- Burnsville, MN
- Edina, MN
- Elk Grove, IL
- Fosston, MN
- Lisle, IL
- Minneapolis, MN
- North Branch, MN
- St Louis Park, MN
- St. Charles, MN
- St. Louis Park, MN
- Waconia, MN
- Wausau, WI
- Winona, MN
- Woodbury, MN

### Websites listed on Form ADV (Item 1.I)
- focusfinancial.com
- Facebook @p
- LinkedIn @focus-financial-network-inc-

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $4,166,788,948 | 202 | March 25, 2021 |
| October 2022 | $5,084,683,954 | 210 | September 6, 2022 |
| October 2023 | $4,459,201,828 | 194 | September 29, 2023 |
| October 2024 | $5,385,968,542 | 167 | September 24, 2024 |
| October 2025 | $6,262,663,508 | 172 | July 21, 2025 |
| October 2026 | $6,823,756,233 | 189 | October 1, 2026 |

Regulatory assets under management: $4,166,788,948 in the October 2021 data and $6,823,756,233 in the October 2026 data, up 64%.
Total employees: 202 in October 2021 and 189 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Registered or notice-filed in HI.

### September 2026
- Added an office in St. Louis Park, MN.

### April 2026
- No longer lists the business name AFC Financial Advisory Group.
- No longer lists the business name Mertz Wealth Strategies.
- Added the business name Mertz Wealth Strategies, Inc..
- Added the business name McMurray Whitney Financial.
- Added the business name The Basballe Group.
- Its Item 11 disclosure answers changed.
- Employees performing advisory functions went from 118 to 114.
- Added an office in North Branch, MN.
- No longer lists an office in Bloomington, MN.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Focus Financial (CRD 116140): Form ADV filing data as of October 2026.