Focus Financial Partners’ The Colony Group and Mintz Levin Financial Advisors to Combine

Focus assets grow to more than $50B with third transaction of the year

Agreement unites Boston-based RIA powerhouses

NEW YORK & BOSTON--()--Focus Financial Partners, LLC (“Focus”), the largest partnership of independent wealth management firms, with over $50 billion in assets, today announced that its partner firm, The Colony Group (“Colony”), has entered into an agreement with Mintz Levin Financial Advisors (“MLFA”) under which MLFA will be merged with and into Colony.

The Colony Group, a Focus partner firm since October 2011, and Mintz Levin Financial Advisors are Boston-based registered investment advisory firms with combined client assets of approximately $2.5 billion. This is Focus’s third transaction of the year. The terms of the deal were not disclosed.

“This transaction is unprecedented not only for Focus, Colony and MLFA but for the independent wealth management industry,” said Rudy Adolf, Founder and CEO of Focus. “I am thrilled that Focus was able to bring this deal to fruition, further demonstrating our strength at delivering immediate value to our partner firms.”

Colony provides investment and wealth management services, including estate and tax planning to high net worth individuals and families as well as corporate clients, retirement plans, and charitable foundations. The firm is a previous winner of Charles Schwab & Co., Inc.’s “Best-in-Business IMPACT Award®.”

“With the support of our partners at Focus, we are very pleased to be able to combine forces with MLFA,” said Michael Nathanson, Chairman and CEO of Colony. “As our firm has grown, we have increasingly observed the tremendous advantages that could be realized by uniting with a like-minded, complementary business. I look forward to leveraging the synergies between Colony and MLFA to bring even greater value to our clients.”

MLFA was founded by Robert Glovsky, Cary Geller and the law firm of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. Both Mr. Glovsky and Mr. Geller have been listed among the top wealth advisors in the country by leading industry publications such as Barron's and Worth. An average MLFA client has approximately $3 million in investible assets, and the firm specializes in serving high-net-worth individuals within a range of $1-30 million.

MLFA will adopt Colony’s name and relocate to the firm’s Boston headquarters. Mr. Geller and Mr. Glovsky, who is the former Chairman of the Certified Financial Planner Board of Standards and the founder of Boston University’s Program for Financial Planners, will join Colony’s executive management team.

“I am proud we have built a nationally recognized firm with deep industry roots,” said Mr. Glovsky, who will serve as Colony’s Vice Chairman. “Looking ahead, I am excited that MLFA will grow as part of Colony and gain an even more robust client service model, with expanded capabilities and resources.”

Michael Paley, Managing Director at Focus and a leader for the transaction added, “Focus has consistently facilitated strategic transactions on behalf of our partner firms thanks to our structure and resources. We look forward to building on this success and finding strategic ways to serve our current and future partner firms.”

About Focus Financial Partners

Founded in 2006, Focus Financial Partners, LLC, is the leading international partnership of independent, fiduciary wealth management firms. With over $50 billion in assets and 750 employees, including 100 partners, Focus provides wealth management, benefit and investment consulting services to individuals, families, employers and institutions. Clients benefit from Focus’s independence, unrivaled access and continuity. Focus principals maintain their entrepreneurial independence, benefit from the synergies, scale, economics and best practices of the market leader and achieve an eventual, smooth ownership transition. For more information, please visit www.focusfinancialpartners.com.

About The Colony Group

Founded in 1986, The Colony Group, LLC provides investment, wealth management, and other financial advisory services for high net worth individuals and families, corporate clients, retirement plans, and charitable foundations. Managed by financial professionals dedicated to providing objective advice and exceptional service to clients, The Colony Group has offices in Boston and Naples, Fla. Colony oversees approximately $1.4 billion of client assets. For more information, please visit www.thecolonygroup.com.

About Mintz Levin Financial Advisors

Founded in 1998, Mintz Levin Financial Advisors, LLC provides high net worth individuals and families with comprehensive and customized financial planning services. MLFA’s professionals work in teams to create, implement, and monitor holistic financial plans that address the investment, retirement, estate planning, philanthropic, tax, risk management, and education planning needs of clients. Headquartered in Boston, MLFA oversees approximately $1.1 billion of client assets. For more information, please visit www.mintzlevinfinancial.com

Contacts

FTI Consulting
Jim Cheston, +1 212.850.5675
jim.cheston@fticonsulting.com
or
Kim O’Halloran, +1 312.553.6733
kim.ohalloran@fticonsulting.com

Contacts

FTI Consulting
Jim Cheston, +1 212.850.5675
jim.cheston@fticonsulting.com
or
Kim O’Halloran, +1 312.553.6733
kim.ohalloran@fticonsulting.com