The Colony Group, a Boston-based registered investment adviser managing $13 billion, is acquiring Derby & Co., an RIA managing $691 million in nearby Newton, Massachusetts.
The terms of the arrangement were not disclosed.
Derby & Co. was founded in 1987 by Burt Derby. His sons Mark and Jonathan will join Colony as principals and senior wealth advisers.
This is the fifth acquisition this year by Colony, a Focus Financial partner firm. The earlier deals include its purchase of $288 million Legacy Wealth Partners in Calabasas, California, which was announced in August, and its deal for $2.8 billion New Providence Asset Management in New York, which was announced in June.
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Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
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