Focus Financial announces another firm has joined The Colony Group, adding $6.6B

Focus Financial announces another firm has joined The Colony Group, adding $6.6B
The deal is the second major announcement for the firm in the last week.
NOV 05, 2024

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.”

Latest News

Farther debuts AI investment proposal tool for advisors to win clients
Farther debuts AI investment proposal tool for advisors to win clients

"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews.

Are you optimally efficient?
Are you optimally efficient?

Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.

Advisor moves: Father-son duo leaves Raymond James for LPL, RayJay adds Merrill Lynch alum in Florida
Advisor moves: Father-son duo leaves Raymond James for LPL, RayJay adds Merrill Lynch alum in Florida

Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.

Beacon Pointe adds six RIAs in two-month acquisition spree, boosting AUM by $2.7B
Beacon Pointe adds six RIAs in two-month acquisition spree, boosting AUM by $2.7B

The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.

RIA moves: RWA Wealth Partners strengthens leadership as $8B Procyon widens Northeast footprint
RIA moves: RWA Wealth Partners strengthens leadership as $8B Procyon widens Northeast footprint

The Dynasty Financial partner firm's latest deal in Connecticut adds roughly $600 million in client assets.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.