RIA consolidator Focus Financial Partners said one of its partner firms has merged with two other teams, creating a group with a total of 10 offices, 140 professionals and about $7.5 billion in assets under management: The Colony Group of Boston combined with Bridgewater Wealth & Financial Management, another Focus Financial partner, and with Blue Water Advisors—giving the combined entity offices in the New York and Washington, D.C., metropolitan areas.
“The Colony team joined Focus just over six years ago on a mission in pursuit of an extraordinary vision to be recognized as a leading financial advisory firm,” said Rudy Adolf, founder and CEO of Focus, in a statement. “Colony has the right vision, team and model, and that, coupled with our resources, will propel it to the next level of growth.”
Bridgewater Wealth, founded in 1996 by Ron Rubin, has locations in in Bethesda and Easton, Maryland; it manages some $1 billion in assets.
In September 2016, Bridgewater launched Her Wealth, a brand that aims to empower women with more financial confidence and resources so they can take more control of their wealth. Colony says it will continue to support the growth of this program.