The Atlanta-based wealth management firm Gratus Capital is set to join forces with fellow Focus Financial firm The Colony Group, bringing an additional $3.8 billion to the combined entity.
The transaction was announced this week by Focus, which is a partner and backer of both wealth management firms. It is expected to close in the third quarter of 2024, subject to customary closing conditions.
The news comes about two months after Focus revealed that two of its flagship advisory firm partners — Buckingham Strategic Wealth and The Colony Group — had reached a deal to merge in order to unify their resources, capabilities and talent. With this and other recent additions, The Colony Group's total client assets now stand at about $110 billion.
Gratus, which joined Focus as a partner firm in 2014, predominantly serves high-net-worth individuals and families in areas ranging from investment management and comprehensive financial planning to business owner strategies.
Through this transaction, Gratus will gain access to Colony's expertise, tools and resources, including tax and family office services.
