Focus Financial Partners, a leading wealth management firm, has announced the merger of one of its prominent registered investment advisor partners into The Colony Group, a strategic hub based in Boston. The merger is part of Focus’s strategy to consolidate its network of advisors and strengthen its position in the wealth management industry.
The registered investment advisor partner, InterOcean Capital, based in Nashville, manages approximately $5.8 billion in assets under management (AUM) and primarily serves high-net-worth individuals and families. Additionally, InterOcean has several retirement plans, charities, and businesses among its clientele.
The merger with The Colony Group, which boasts $21.5 billion in AUM according to its latest Form ADV, is expected to be completed in the second quarter. The Colony Group offers advanced planning and family office capabilities, which will enhance the services available to InterOcean’s clients.
Rege Eisaman, CEO and chief investment officer of InterOcean, expressed enthusiasm about the merger, highlighting the opportunity to accelerate growth and expand the range of services offered to clients. The collaboration with The Colony Group will deepen the breadth of expertise available to InterOcean’s clients.
For Focus Financial Partners, the merger with The Colony Group represents a strategic move to integrate partner firms into established wealth management practices, following its acquisition by private-equity firm Clayton, Dubilier & Rice. This hub strategy aims to leverage the strengths of each partner firm and enhance client service offerings.
Zinovy Iosovich, president and chief services officer at The Colony Group, commended InterOcean’s track record of growth and diverse service model. He emphasized the value that InterOcean’s experienced and talented team will bring to The Colony Group.
Travis Danysh, head of mergers and acquisitions at Focus Financial Partners, described the merger as an important milestone for both InterOcean and The Colony Group. He expressed optimism about the synergies between the two firms and their ability to deliver sophisticated strategies tailored to each client’s unique needs.
Overall, the merger between InterOcean Capital and The Colony Group underscores Focus Financial Partners’ commitment to expanding its network of advisors and enhancing client service capabilities in the wealth management industry.