Just days after Focus Financial Group announced that Homan Wealth Advisors will join Buckingham Strategic Wealth to boost The Colony Group, another firm has also joined the group.
Connecticut headquartered Focus partner firm GYL Financial Strategies has formally joined The Colony Group, adding $6.6 billion to its assets under management. The deal completed on November 1.
GYL has been with Focus Financial since 2016 and provides customized solutions for institutional and private clients along with investment management, financial planning, institutional consulting, and family office services.
As well as taking the number of Colony offices across the country to 100, the addition of GYL also enhances its institutional practice in both capabilities and scale – doubling its size in one move.
Former GYL chief executive officer Gerry Goldberg has joined Colony as part of the deal as divisional president alongside Wendy Hartman of Buckingham Strategic Wealth.
“Our guiding principle is that the interests of the client come first and that we should strive for constant improvement and innovation to serve them,” said Goldberg. “Each client is unique, and we consider it a privilege to help them navigate significant financial and life events. Joining Colony provides a wide variety of tools that enhance the abilities of our advisors to meet our clients’ evolving needs. I am excited to be part of the leadership team while remaining connected to our clients as a division president at the combined company.”
There have been eight mergers into Colony so far in 2024.
“We are thrilled to welcome GYL and its highly skilled and motivated network of talented professionals to our firm,” said Adam Birenbaum, CEO of Colony. “GYL is an excellent partner to further reinforce our commitment to empowering clients with outstanding advice, services, investment management, and capabilities for achieving their financial goals.”
“I’m seeing more disputes like this between advisors and other advisors at the same practice,” said one industry executive.
Beth Emswiler and Andrew Borner join as senior managing directors as the private bank widens its push for ultra-high-net-worth clients
Morningstar advisor survey finds admin work, rising client demands are offsetting efficiency gains from greater technology adoption.
Raymond James, UBS and Prime Capital Financial also announced additions as advisor recruiting stays brisk across wirehouse and independent channels
A new platform turns disputed facts into tradable markets, flipping the prediction market model on its head.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
