The changes continue at Focus Financial as the firm announces another merger of firms within its network. The independent wealth network unveiled an agreement under which GW & Wade – a Wellesley, Massachusetts-headquartered practice – will join fellow Focus Financial partner firm The Colony Group.
The merger will see GW & Wade's substantial $10.4 billion in assets under management as of the end of 2023 integrate with Colony's impressive $21.1 billion of AUM.
GW & Wade – a firm with deep roots in the Focus Financial partnership since 2007 that's co-led by principals Roger Wade and Tim Pinch – brings a wealth of experience in tax planning, financial planning, asset management, and retirement and estate planning to the table.
"We strive to have a positive impact on the lives of our clients and to help them achieve their financial goals," Wade said in a statement.
"We know Michael Nathanson and the Colony team share these values, which is one of several reasons we are excited to join forces with another industry leader in wealth management," Pinch added.
This strategic amalgamation not only enhances the collective financial and advisory capacity of the two firms but also underscores Focus Financial's commitment to fostering growth and collaboration among its partner entities.
Michael Nathanson, CEO of The Colony Group – who was named to the additional role of president of Focus at the end of January – expressed optimism about the merger's potential to enhance client services and foster long-term growth.
"It is exciting to see two of our outstanding wealth management firms joining forces,” Nathanson said. “We expect that, through opportunistic mergers such as this one, Focus will continue to facilitate the accelerated evolution of firms that choose such a path.”
Post-merger, GW & Wade will be known as GW & Wade at The Colony Group, marking a new chapter in the firms' histories as they combine strengths to serve their clients better.
Focus Financial billed the merger, slated for completion in the first quarter of 2024, as a major stride in its innovative hub strategy. The firm started implementing that strategy following its September take-private acquisition by private equity manager Clayton Dubilier & Rice.
The move marks Focus’s second signed intra-partnership merger as part of its new hub strategy.
Nine-month electronic trading freeze and share lending program at the center of dismissed claim.
Meanwhile, Rossby Financial's leadership buildout rolls on with a new COO appointment as Balefire Wealth welcomes a distinguished retirement specialist to its national network.
With a smaller group of companies driving stock market performance, advisors must work more intentionally to manage concentration risks within client portfolios.
Professional athletes are often targets of scam artists and are particularly vulnerable to fraud.
The brokerage giant tells Wall Street it will use artificial intelligence to reach clients it has never been able to serve — and turn the technology's perceived threat into a competitive edge.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
