Focus Financial Partners Inc. (“Focus”), a prominent partnership comprising fiduciary wealth management and related financial services firms, disclosed today during its semi-annual partners meeting that it is in advanced negotiations to finalize an agreement whereby Focus partner firm Buckingham Strategic Wealth, LLC (“Buckingham”), headquartered in St. Louis, will merge with Focus firm The Colony Group, LLC (“Colony”). Under this proposed arrangement, Adam Birenbaum, presently Chairman and CEO of Buckingham, will assume the role of CEO for the combined entity, while Michael Nathanson, currently CEO of Colony and Focus, will transition to serve solely as CEO of Focus. Any definitive agreement reached will be subject to customary closing conditions.
“This decision to unite these two premier firms is tremendously exciting, and we eagerly anticipate witnessing the collective achievements of Colony and Buckingham as they amalgamate. Together, the merged entity will encompass nearly 1,200 employees, operate from over 90 office locations, and serve tens of thousands of clients.”
Buckingham, a nationally recognized investment adviser, offers a comprehensive suite of fiduciary services and tools catering to individuals, families, nonprofits, and other organizations. Renowned for its evidence-driven investment approach, Buckingham became a partner firm of Focus in 2007, specializing in delivering exceptional guidance to help clients achieve their financial goals.
In addition to the merged firm, Buckingham’s affiliated comprehensive service provider, Buckingham Strategic Partners, LLC (“BSP”), will continue operating under the leadership of Adam Birenbaum, further expanding opportunities with its turnkey asset management platform. Jonathan Scheid will retain his position as President of BSP.
“This merger will establish an RIA of significant scale and represents a landmark moment in our industry’s history. The scale of the combined entity underscores and accelerates the ongoing evolution within wealth management to create better opportunities for both clients and advisors, offering them exceptional capabilities and services,” remarked Michael Nathanson, CEO of Focus. “This decision to unite these two premier firms is tremendously exciting, and we eagerly anticipate witnessing the collective achievements of Colony and Buckingham as they amalgamate. Together, the merged entity will encompass nearly 1,200 employees, operate from over 90 office locations, and serve tens of thousands of clients.”
“There are certain moments in an organization’s journey that are truly transformative. It is a dream come true for Buckingham to be part of such a transformational opportunity,” expressed Adam Birenbaum, Chairman and CEO of Buckingham. “I am deeply honored by the trust and confidence placed in me to lead such an extraordinary firm. We have the privilege and responsibility to create something truly exceptional, a firm that becomes a destination for top talent in our industry, offering an advisor and client experience that is unparalleled. That is our guiding principle.”
This merger follows Colony’s recent growth, including the addition of GW & Wade and InterOcean Capital to the firm. The combination of Buckingham and Colony will build upon this momentum.
“This presents an exciting opportunity to integrate complementary services and capabilities, further advancing our mutual commitment to better serve clients,” stated Zinovy Iosovich, President and Chief Services Officer of Colony. “We are thrilled to join forces with the Buckingham team and embark on this next phase of collaboration to build a leading, transformative business.”
“Like Buckingham, Colony is dedicated to a client-focused approach,” added Justin Ferri, President and Chief Operating Officer of Buckingham. “Our alignment in values and instincts makes this union not only thrilling in terms of what we can achieve together but also entirely natural.”
This merger will generate significant value and foster increased alignment among Buckingham, Colony, and Focus through shared equity ownership in Focus. The aligned equity culture forged through this merger is crucial to the long-term vision and success of the combined wealth business.
About Focus Financial Partners Inc.
Focus is a premier partnership of fiduciary wealth management and related financial services firms. Focus provides its affiliated firms access to best practices, resources, and continuity planning to serve individuals, families, employers, and institutions with comprehensive financial services. Focus firms benefit from the synergies, scale, economics, and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.
