Focus Financial’s The Colony Group Adds $6.6B Connecticut RIA 

Focus Financial Partners announced the merger of its partner firms West Hartford, CT-based GYL Financial Synergies with Boston, MA-based The Colony Group, with plans for a rebranding of the combined entity expected soon. 

The transaction was completed on November 1, 2024, and adds over $6.6 billion in assets under management to Colony, doubling the size of its institutional practice, and brings Colony’s offices to 100 across the U.S. As part of the merger, Gerry Goldberg, former CEO of GYL, will join Wendy Hartman as a division president at Colony. 

The GYL team, which joined Focus in 2016, offers institutional and private clients investment management, financial planning, institutional consulting, and family office services. 

“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.” 

The deal marks the 8th merger into Colony this year, noted Michael Nathanson, CEO of Focus. Since closing a take-private deal with Clayton, Dubilier & Rice (CD&R) in 2023, the firm has implemented a “hub” model to consolidate its network of RIAs. 

Colony, the largest hub firm, combined with Buckingham Wealth Partners earlier this year, in a transaction anticipated to establish a $115 billion registered investment advisor.