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Financial Planning > Charitable Giving

Focus Financial Partner Builds $7.5B Team

By Janet Levaux

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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.

Long Island, New York-based Blue Water Advisors, started by Max Haspel in 2001, became an RIA in 2014 managing roughly $500 million of assets for clients.

“We have found time and again that our merger partners add enormous benefits, starting with talent and specialized expertise, and including deeper investment, technological, operational and other capabilities,” said Colony Chairman & CEO Michael Nathanson. “We expect Bridgewater Wealth and Blue Water Advisors to enhance how we serve our clients.”

Focus Financial Partners includes more than 50 independent wealth management and financial services firms. As of the third quarter of 2017, it had some $100 billion in client assets, according to Echelon Partners.

“I have long admired The Colony Group and valued the sharing of expertise and vision by the leadership team of the firm,” Rubin said in a statement. “I now look forward to combining the talents of our successful and innovative firms as we strive to deliver what we believe is the best set of solutions and a unique cultural experience for clients.”

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