Focus Financial Partners Inc., a registered investment advisor aggregator, announced the acquisition of its partner firm InterOcean Capital Group, LLC by Focus-backed The Colony Group, LLC.

Financial terms of the transaction, which is expected to close in the second quarter of 2024, were not revealed.

Nashville, TN-based InterOcean, which first joined Focus in 2020, caters to high-net-worth individuals and families, and portfolio management and investment consulting for select institutions.

Founded in 2005 by CEO Rege Eisaman, president Mark Carr and CFO Jeffrey Camp, InterOcean will gain access to a broader suite of resources and expertise to serve clients, according to the firm, and Boston-based Colony will expand its footprint in key locations, including Nashville, TN, Chicago, IL and Scottsdale, AZ.

“This deal marks an important next step in the evolution of each business,” said Travis Danysh, head of mergers and acquisitions of Focus. “We’re excited to see the ways in which Colony and InterOcean continue developing and implementing a range of sophisticated strategies designed to meet every client’s unique needs.”

The deal is Colony’s third since agreeing to have Focus buy out its management team in late 2023.

Colony’s first transaction under the new agreement was a merger in November 2023 with Focus affiliate Connectus Wealth Advisers. In March, the group bought GW & Wade, a Boston-based Focus partner business worth around $10.4 billion.