New York's Focus Financial Partners shopping for Aussie advice firms

Sally Rose and Kate Cowling

Updated May 17, 2016 – 1.07pm, first published at 11.00am

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New York's Focus Financial Partners, which last week took a stake in Australian firm MW Lomax, has a $US1 billion ($1.37 billion) war chest and appetite for half a dozen more local deals.

Focus Financial Partners revealed last week it had taken a minority stake in MW Lomax, a firm with $350 million in funds under advice and employing 55 advisers and accountants across its two offices in Melbourne and Sydney.

Sally Rose previously covered superannuation, financial services and business Connect with Sally on Twitter.

Kate Cowling writes on personal finance and is based in our Sydney newsroom. Connect with Kate on Twitter. Email Kate at kate.cowling@afr.com.au