Focus Financial Partners Inc. (“Focus”), a leading partnership
of fiduciary wealth management and related financial services
firms, announced today at its semi-annual partners meeting that it
is in advanced discussions to enter into a definitive agreement
under which Focus partner firm Buckingham Strategic Wealth, LLC
(“Buckingham”), headquartered in St. Louis, will combine with Focus
firm The Colony Group, LLC (“Colony”). Adam Birenbaum, currently
Chairman and CEO of Buckingham, will serve as the combined
company’s new CEO, and Michael Nathanson, currently CEO of Colony
and Focus, will shift to serve solely as CEO of Focus. Any such
definitive agreement would be subject to customary closing
conditions.
Buckingham is a national investment adviser offering a
sophisticated suite of fiduciary services and tools to support
individuals, families, nonprofits and other organizations. A leader
in evidence-driven investing, Buckingham joined Focus as a partner
firm in 2007 and specializes in providing exceptional guidance to
help clients realize their financial ambitions.
In addition to the combined firm, Buckingham’s sister company,
comprehensive service provider Buckingham Strategic Partners, LLC
(“BSP”), will also continue to operate under Adam Birenbaum’s
leadership, further expanding the opportunity for its turnkey asset
management platform. Jonathan Scheid will continue to serve as
President of BSP.
“This transaction will create an RIA of truly substantial scale
and marks a milestone moment in the history of our industry. The
combined firm’s scale underscores and accelerates the ongoing
evolution we are seeing in the wealth management space to cultivate
better opportunities for clients and advisors and to offer them
outstanding capabilities and services,” said Michael Nathanson, CEO
of Focus. “The decision to unify these two industry-leading firms
is an exciting one, and we cannot wait to see what Colony and
Buckingham will accomplish when they join forces. Together, the
combined firm will represent nearly 1,200 employees, more than 90
office locations, and tens of thousands of clients.”
“There are occasions in an organization’s journey that are true
landmark moments. It is a dream come true for Buckingham to be able
to take part in exactly that kind of transformational opportunity,”
said Adam Birenbaum, Chairman and CEO of Buckingham. “I am honored
by the trust and faith placed in me to lead such an incredible
firm. We have the distinct privilege and mandate to build something
truly special, a firm that becomes a destination for exceptional
talent in our industry and an advisor and client experience that is
phenomenal. That is our north star.”
This transaction comes on the heels of other recent growth for
Colony, including the firm recently being joined by GW & Wade
and InterOcean Capital. Buckingham combining with Colony will
continue building on this momentum.
“This is an exciting opportunity to bring together complementary
services and capabilities that will further enhance our common
interest to serve clients better,” said Zinovy Iosovich, President
and Chief Services Officer of Colony. “We are thrilled to be
joining forces with the Buckingham team and to take this next step
in our journey of collaboration to build an industry-leading,
transformational business.”
“Like Buckingham, Colony is relentlessly, unapologetically
client-focused and client-driven,” said Buckingham’s President and
Chief Operating Officer, Justin Ferri. “Joining together is not
just exciting in terms of what we can do better, faster together;
it’s entirely natural as our instincts and values are so incredibly
aligned.”
This transaction will create tremendous value and achieve
increased alignment for Buckingham, Colony, and Focus through
common equity ownership in Focus. The aligned equity culture built
through this combination is vital to the long-term vision and
success of the combined wealth business.
About Focus Financial Partners Inc.
Focus is a leading partnership of fiduciary wealth management
and related financial services firms. Focus provides access to best
practices, resources, and continuity planning for its affiliated
firms, which serve individuals, families, employers, and
institutions with comprehensive financial services. Focus firms
benefit from the synergies, scale, economics, and best practices
offered by Focus to achieve their business objectives. For more
information about Focus, please visit
www.focusfinancialpartners.com.
About The Colony Group, LLC
The Colony Group, LLC is an investment advisory firm registered
with the Securities and Exchange Commission (the “SEC”) with 29
locations in 14 states. Registration with the SEC does not imply a
certain level of skill or training and does not imply that the SEC
has endorsed or approved the qualifications of Colony or its
representatives. With origins dating back to 1986, Colony’s team
provides individuals and families, executives, business owners,
entrepreneurs, athletes and entertainers, institutions and
non-profit organizations with deep expertise that goes beyond
investment management and can encompass tax, estate, retirement and
philanthropic planning, asset allocation and sustainable investing
solutions, family office services, business management services,
divorce and dispute resolution services, and life-enrichment
services through Curated by ColonyTM. For more information about
Colony, please visit www.thecolonygroup.com and follow Colony on
LinkedIn.
About Buckingham Strategic Wealth, LLC
Buckingham Strategic Wealth, LLC is an SEC registered investment
adviser providing an extensive range of fiduciary financial
advisory services that support individuals, families, nonprofits
and other organizations. With a passion to progress, serve and do
the right thing for clients at all times, Buckingham helps to
fulfill its clients’ financial dreams using the organization’s
proprietary Design | Build | Protect® methodology and an array of
data-driven investment and planning strategies.
Headquartered in St. Louis, MO, Buckingham has over 50 offices
in 27 states. As of March 31, 2024, the firm managed $30.11 billion
in regulatory assets under management or administration. With its
sister company, Buckingham Strategic Partners, LLC, it collectively
manages or administers over $70 billion of collective assets. For
more information, please visit buckinghamstrategicwealth.com.
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