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Focus Financial Partners has announced the merger of its partner firms GYL Financial Synergies with The Colony Group.
This move is set to expand Focus firm Colony’s assets and capabilities in wealth management services.
The transaction was completed on 1 November 2024, with plans for a rebranding of the combined entity expected soon.
Focus CEO Michael Nathanson said: “This deal marks the 8th merger into Colony this year, a milestone that underscores the continued momentum of Focus Financial Partners’ forward-looking strategy.
“Bringing together two like-minded Focus firms that offer a wealth of talent, experience, and scale is exactly the kind of strategic alignment needed to drive innovation, accelerate growth, empower advisors, and create additional value for clients.”
The GYL team, which has been a part of Focus since 2016, offers solutions for both institutional and private clients.
It provides investment management, financial planning, institutional consulting, and family office services.
With this merger, GYL contributes over $6.6bn in regulatory assets under management to Colony’s client assets.
This strategic move not only broadens Colony’s team of experts but also bolsters its financial planning, investment management, and institutional consulting capabilities.
The merger has the added benefit of doubling the size of Colony’s institutional practice and increases the total number of Colony’s offices across the US to 100.
As a result of the merger, GYL CEO Gerry Goldberg will assume the role of division president at Colony alongside Wendy Hartman.
Goldberg said: “Our guiding principle is that the interests of the client come first and that we should strive for constant improvement and innovation to serve them.
“Each client is unique, and we consider it a privilege to help them navigate significant financial and life events. Joining Colony provides a wide variety of tools that enhance the abilities of our advisors to meet our clients’ evolving needs.”
Last week, Focus agreed to acquire Homan Wealth Advisors, based in Omaha, Nebraska.
“Focus partner firms GYL Financial, Colony merge operations” was originally created and published by Private Banker International, a GlobalData owned brand.
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