Focus Financial Partners said Monday that five U.S.-based business lines within partner firm Connectus Wealth Advisers have joined The Colony Group, a Focus partner firm.
The firms are: Atlas Private Wealth Management, Connectus Private, Hunt Valley Wealth, Mid-Continent Capital and NEIRG Wealth Management.
With the alliance, Connectus advisors and clients joining Colony "will benefit from expanded services and deeper capabilities, gaining access to Colony's open architecture investment platform, in-house tax planning, family office services and more," Focus said Monday in a statement.
"Importantly, this transaction adds senior-level talent to Colony and will strengthen its footprint in key markets, including Chicago, greater Baltimore and South Florida," Focus said.
The five Connectus groups moving to Colony Group have a total of $5.3 billion in assets under management.
Zinovy Iosovich, president and chief services officer of Colony, said the firms "are excited to welcome these experienced and talented teams to Colony," and that "each brings a unique offering and core competency, and we are committed to providing the advisory teams additional depth and broader capabilities to better serve their clients."
Michael Nathanson, CEO of Focus, added that the deal "maximizes the potential and effectiveness of each Connectus business line while adding additional high-quality senior leadership to Colony."
