The Colony Group adds $1.5 billion in double merger

The Colony Group, a $6 billion Boston-based advisory firm, merged with two smaller firms earlier this month, adding $1.5 billion in assets under management. Bethesda, Md.-based Bridgewater Wealth & Financial Management, which manages $1 billion, and Long Island, N.Y.-based Blue Water Advisors, which manages $500 million, were merged with The Colony Group on Jan. 1. Bridgewater and The Colony Group are both part of Focus Financial Partners, meaning Focus has an ownership stake in both the registered investment advisers. "As partner firms of Focus, the Colony and Bridgewater Wealth teams have been sharing our ideas for years," said Ron Rubin, who founded Bridgewater in 1996 and is now vice chairman and managing director, mid-Atlantic region, of The Colony Group. The two companies "hold similar values and work diligently to provide high-quality client services," Mr. Rubin said. "I now look forward to combining the talents of our successful and innovative firms as we strive to deliver what we believe is the best set of solutions and cultural experience for our clients." Post-merger, both Bridgewater and Blue Water are being re-branded as The Colony Group, which has had seven such transactions since joining Focus in 2011.