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.
Counting advisor moves in and out of firms requires some art as well as science.
“I'm just a big believer that based on demographics alone, we are looking at a 10-to-15 year bull market in M&A in the RIA and independent wealth space,” said Michael Belluomini, SVP of M&A at Carson Group.
As a tsunami of retirees comes crashing in, three-fifths of those surveyed believe – wrongly – that the federal safety net will cover their LTC needs.
Orion's latest update, a partnership with 11th.com, focuses on an underserved area of compliance for advisors and wealth firms.
The latest arrivals, including a 10-advisor ensemble from Ameriprise, bolster the firm's independent contractor and employee advisor channels.
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.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave