BOSTON, Nov. 22, 2021 /PRNewswire/ -- The Colony Group, LLC ("Colony"), a national, award-winning wealth and business management firm that managed over $13 billion in regulatory assets under management as of December 2020, announced an agreement for a strategic transaction with wealth management firm Derby and Company, Inc. ("Derby"), based in Newton, MA. Colony will have 20 offices nationally with over 300 team members upon closing of the transaction, which is expected to occur later this year, subject to customary closing conditions.
"As we spent time with Mark and Jonathan Derby, it quickly became clear that the culture of their firm complemented ours, as it is rooted in tight-knit relationships with clients and team members," said Michael Nathanson, Chair and CEO of Colony. "Derby is the fifth transaction we expect to close in just the second half of 2021. Our team continues to demonstrate that, through strategic transactions such as this one, we can enhance high-quality wealth management firms, broaden our service offering and ensure continuity for clients and team members."
Derby & Company was founded in 1987 by Burt Derby. As the firm grew, Mark and Jonathan Derby joined the team specializing in serving successful entrepreneurs and professionals as they navigated change in their business and personal lives. Mark and Jonathan will both join Colony as Principals and Senior Wealth Advisors.
"Our father shared simple insights with us through the years, including 'do what you love and you'll never work a day in your life', and 'work smarter, not harder'," shared Jonathan. "As we considered the next stage in our journey, we envisioned spending more time with our clients, while collaborating with a broader team. After spending significant time with the Colony team, it was obvious to us that joining forces would be a smart way to move forward."
Colony and its team members have received distinguished financial industry awards over many years, including from Barron's, both as a Top Independent Advisor from 2009 to 2017 and as a Barron's Top RIA Firm from 2018 to 2021. Colony is currently listed as a top advisory firm in Massachusetts by the Boston Business Journal.
About The Colony Group, LLC
The Colony Group, LLC ("Colony") is an independent, fee-only wealth and business management firm registered with the Securities and Exchange Commission ("SEC") with locations in California, Colorado, Connecticut, Florida, Maryland, Massachusetts, New Hampshire, New Jersey, New York and Virginia. Registration with the SEC does not imply a certain level of skill or training and does not imply that the SEC has endorsed or approved the qualifications of Colony or its representatives. With origins dating back to 1986, Colony provides individuals and families, executives, business owners, entrepreneurs, athletes and entertainers, institutions and non-profit organizations with deep expertise that goes beyond investment management and can encompass tax, estate, retirement and philanthropic planning, asset allocation and sustainable investing solutions, family office services, business management services, divorce and dispute resolution services, and life-enrichment services through Curated by Colony™.
Award and Recognition Disclosure
Barron's criteria: Top RIA Firm (2018-2021) – Barron's ranks independent advisory firms weighing dozens of qualitative and quantitative components, including assets managed, the size and experience of teams, and the regulatory records of the advisors and firms. The Barron's Top 100 Independent Advisor list included Colony's CEO for 2007 and 2009-2017, and the list criteria included an advisor's assets under management, contribution to the firm's revenues and profits, and quality of service.
Boston Business Journal criteria: Assets under management for Massachusetts-based advisers. The Boston Business Journal list included Colony for 2008-2010 and 2012-2021.
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SOURCE The Colony Group