Focus Financial Hits $50 Billion In Assets With Merger

Eliane Chavagnon

31 May 2012

The Colony Group, a partner of Focus Financial Partners, is to merge with Mintz Levin Financial Advisors in a deal which will see Focus’ assets swell to over $50 billion.

Martin Levin Financial Advisors will adopt Colony’s name and relocate to the firm's Boston, MA, headquarters, with founders Cary Geller and Robert Glovsky transferring to Colony's executive management team, the firm said.

The terms of the deal, which represents Focus' third transaction this year, were not disclosed.

“As our firm has grown, we have increasingly observed the tremendous advantages that could be realized by uniting with a like-minded, complementary business,” said Michael Nathanson, chairman and chief executive of Colony.

Colony, which became a Focus partner firm in October last year, and MLFA are both Boston-based registered investment advisory firms, with combined client assets of around $2.5 billion.

MLFA said an "average" client would have around $3 million in investable assets, and that it specializes in the HNW segment with between $1 million and 30 million in assets. The firm was founded in 1998 and oversees approximately $1.1 billion of client assets.

Focus Financial Partners was established in 2006 and employs 750 staff, including 100 partners. It provides wealth management, benefit and investment consulting services to individuals, families, employers and institutions.

Founded in 1986, Colony provides investment, wealth management, and other financial advisory services for HNW individuals and families, corporate clients, retirement plans, and charitable foundations. It has offices in Boston and Naples, FL, and oversees approximately $1.4 billion in client assets.