$3.6B West Coast RIA to Join Colony Group

By John Manganaro

News August 05, 2024 at 11:31 AM

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San Diego-based wealth management firm HoyleCohen is set to join forces with fellow Focus Financial firm The Colony Group, bringing an additional $3.6 billion to the combined entity.

The transaction was announced Monday 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 three 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 $114 billion.

HoyleCohen has four offices across California and Arizona, having initially joined Focus as a partner firm in 2006. Its advisors specialize in long-term planning and tailored wealth solutions for clients.

With the transaction, HoyleCohen will gain access to Colony's planning and investment expertise to enhance its wealth advisory capabilities. In turn, Colony will leverage HoyleCohen's advisors and resources to strengthen its footprint within key markets across the West Coast.

Adam Birenbaum, CEO of The Colony Group, cited HoyleCohen's personalized financial and life planning advice capabilities as drivers of the transaction: "We welcome HoyleCohen's talented advisors, and we look forward to working with them to further enhance our offerings and capabilities."

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