Focus Financial Partners, the national wealth network, isn’t letting any moss grow under its feet as it announces another move in its hub strategy: On Monday, it announced a merger that will see partner firm InterOcean Capital Group merge into another partner firm, The Colony Group.
Based in Nashville, Tennessee, InterOcean Capital Group has carved a niche for itself by offering comprehensive consulting, financial planning, and asset management services. Since joining Focus in 2020, InterOcean has been dedicated to delivering bespoke wealth management solutions to affluent individuals and families, along with providing portfolio management and investment consulting to a select number of institutions.
Under the deal announced Monday, set to close in the second quarter, InterOcean will have access to Colony’s expanded array of resources and capabilities, while Colony stands to bolster its presence across several key markets, including Nashville, Chicago, and Scottsdale, Arizona.
"We are very proud of the business we have built over the last 19 years and wanted to seize an opportunity to accelerate our growth and continue building upon the services we provide to our clients," Rege S. Eisaman, chief executive and chief investment officer at InterOcean Capital, said in a statement.
Eisaman, who’s been in the industry for more than two decades, expressed enthusiasm for the enhanced planning and family office capabilities that Colony brings to the table.
"This transaction brings an experienced, high-energy and talented team across multiple functions, specifically investment management, to Colony,” added Zinovy Iosovich, president and chief services officer at Colony.
"This deal marks an important next step in the evolution of each business,” Travis Danysh, head of mergers and acquisitions at Focus. “We’re excited to see the ways in which Colony and InterOcean continue developing and implementing a range of sophisticated strategies designed to meet every client’s unique needs."
The Colony Group, which Focus snapped up in 2012, also figured in another merger deal announced March. That one, which was slated for completion in the first quarter, involved the assimilation of Massachusetts-based GW & Wade’s $10.4 billion practice with Colony’s $21.1 billion book.
Just last week, Focus announced another intra-network consolidation involving Strategic Wealth Partners Group and Kovitz Investment Group Partners. That merger, the third in Focus’s ongoing hub strategy, will form a $14.5 billion practice.
The Olympia, Washington firm's retirement planning expertise reinforces the consolidator's growth momentum to exceed $160 billion in client assets.
Beyond content generation and execution, firms that can offer answers around governance, transparency, and supervision are set to pull ahead in the next leg of the AI race.
The experienced advisory teams join Ameriprise and Janney as the race for experienced talent continues.
Additional investment and partnership will see joint development of wealth management, brokerage and digital asset platforms.
Rising drug and outpatient costs are pushing plan members to demand more financial guidance and most insurers are falling short.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
