The Colony Group, a financial advisory firm with $10 billion in assets affiliated with Focus Financial, says it is buying RIA Harvest Capital Management of Concord, New Hampshire, though no purchase price was disclosed.
After the transaction closes, the Boston-based, fee-only Colony Group will have 14 offices in seven states with more than 195 team members, it said in an announcement. In addition to Massachusetts, the firm currently has offices in Colorado, Florida, Maryland, New York and Virginia.
“Given the two firms’ cultural alignment and similar client service philosophies, this transaction will create meaningful benefits, in particular for the combined firm’s business owner clients,” according to Focus CEO and Chairman Rudy Adolf.
Harvest has $650 million in AUM, according to the group’s latest SEC filing. The companies didn’t immediately respond to a request for comment.
Colony struck a deal with Aurora Financial Advisors early this year, a transaction that expanded Colony’s offices in Massachusetts. In March, Colony entered into a merger with Boca Raton, Florida-based Steinberg Global Asset Management.