NEW YORK & BOSTON--(BUSINESS WIRE)--Focus Financial Partners (“Focus”), LLC, the largest international partnership of independent wealth management firms, announced today that Long Wharf Investors (“LWI”), an independent Registered Investment Advisor with approximately $200 million in client assets, has merged into Focus’ Boston-based partner firm, The Colony Group (“Colony”). Also based in Boston, LWI principals Rod Macdonald and John Keller will join the Colony team. Following the close of the transaction, Colony’s assets under management will be approximately $3.75 billion.
Established in 1995, Long Wharf Investors has provided wealth and investment management services to more than 125 high-net-worth clients. The firm has served a wide range of clients, including individuals, families, trusts, foundations and non-profits. Mr. Macdonald and Mr. Keller were attracted to the opportunity to become part of a larger organization where they could serve the long-term best interests of their clients and create a succession plan for the future.
“Long Wharf was founded twenty years ago to provide our clients with boutique wealth management services and proprietary investment strategies,” said Mr. Macdonald. “When we were introduced to Colony by Focus, we immediately recognized that they had a similar client service philosophy, and there was a natural fit between the two firms. With Colony, we could achieve our objectives of joining a larger firm with many professionals, gaining access to vast resources, and better protecting our clients by accessing a built-in succession solution, all without compromising our core values and client-first philosophy. We know this combination with Colony will be seamless for our clients but, at the same time, will enhance the support and depth of expertise available to us in serving those clients.”
Mr. Macdonald is a Certified Financial Planner™ professional and, before joining Long Wharf, was a practicing business and commercial real estate attorney in Boston for over 20 years. He served for 15 years as Chairman of an Advisory Committee in developing a master plan for the City of Boston Waterfront, which is currently undergoing tens of billions of dollars in development. He has also served on the boards of various nonprofit organizations in Massachusetts.
Mr. Keller co-founded LWI and has more than 25 years of industry experience. He previously worked at Fleet Investment Advisors and Bank of New England in Strategy and Policy Committee roles, as director of Research, and as manager of the Yankee Growth Fund. He is a member of the CFA Institute and the Boston Security Analyst Society.
“Long Wharf Investors has built a firm that is fully dedicated to providing clients with a first-class wealth management experience and the investment strategies to match,” said Michael Nathanson, CEO of The Colony Group. “At The Colony Group, we have continued to acquire outstanding talent as a way to achieve strategic growth. The Long Wharf team shares our values and dedication to client service at the highest levels, which has greatly facilitated our combination.”
Rajini Kodialam, Managing Director of Focus, said: “As the industry continues to consolidate, we remain keenly focused on supporting our partners’ strategic growth aspirations. The Colony Group has developed itself impressively over the three years since joining Focus. This partnership with LWI reinforces their commitment to growth and service excellence and demonstrates the value of the support and resources we bring to our partners.”
Colony joined Focus in October 2011, and since then has grown its assets under management from approximately $1.2 billion to approximately $3.75 billion. This combination represents Colony’s third successful transaction in the last 24 months, after Mintz Levin Financial Advisors in Boston in 2012 and Prosper Advisors in New York in 2013.
About The Colony Group:
The Colony Group, LLC is an independent, fee-only, wealth management company with approximately $3.75 billion in assets under management and offices in Massachusetts, New York, and Florida. Founded in 1986, The Colony Group, with nearly 70 employees, provides high-net-worth individuals and families, corporate executives, professionals, and institutions with deep expertise that goes beyond investment management and also encompasses the full suite of financial counseling services, including tax, estate, retirement, and philanthropic planning, asset allocation, and cash and risk management. For more information, please visit www.thecolonygroup.com.
About Focus Financial Partners:
Founded in 2006, Focus Financial Partners, LLC is the leading international partnership of independent, fiduciary wealth management firms. With more than $300 million in annual run rate revenues, Focus provides unrivaled access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers, and institutions with wealth management, benefit, and investment consulting services. Focus partner firms maintain their entrepreneurial independence, while they benefit from the synergies, scale, economics, and best practices of the market leader to achieve their business objectives. Focus was included on Inc. Magazine’s 5000 ranking of the nation’s fastest-growing private companies in 2011 and 2010. In 2012, Focus was named a Crain’s New York Business “Fast 50” growth firm in New York City. For more information about Focus Financial Partners, please visit www.focusfinancialpartners.com.