Focus Announces Transformational Transaction; Buckingham Strategic Wealth to Merge with The Colony Group

Focus Financial Partners Inc. (“Focus”), a leading partnership of fiduciary wealth management and related financial services firms, announced today at its semi-annual partners meeting that it is in advanced discussions to enter into a definitive agreement under which Focus partner firm Buckingham Strategic Wealth, LLC (“Buckingham”), headquartered in St. Louis, will combine with Focus firm The Colony Group, LLC (“Colony”). Adam Birenbaum, currently Chairman and CEO of Buckingham, will serve as the combined company’s new CEO, and Michael Nathanson, currently CEO of Colony and Focus, will shift to serve solely as CEO of Focus. Any such definitive agreement would be subject to customary closing conditions.

Buckingham is a national investment adviser offering a sophisticated suite of fiduciary services and tools to support individuals, families, nonprofits and other organizations. A leader in evidence-driven investing, Buckingham joined Focus as a partner firm in 2007 and specializes in providing exceptional guidance to help clients realize their financial ambitions.

In addition to the combined firm, Buckingham’s sister company, comprehensive service provider Buckingham Strategic Partners, LLC (“BSP”), will also continue to operate under Adam Birenbaum’s leadership, further expanding the opportunity for its turnkey asset management platform. Jonathan Scheid will continue to serve as President of BSP.

“This transaction will create an RIA of truly substantial scale and marks a milestone moment in the history of our industry. The combined firm’s scale underscores and accelerates the ongoing evolution we are seeing in the wealth management space to cultivate better opportunities for clients and advisors and to offer them outstanding capabilities and services,” said Michael Nathanson, CEO of Focus. “The decision to unify these two industry-leading firms is an exciting one, and we cannot wait to see what Colony and Buckingham will accomplish when they join forces. Together, the combined firm will represent nearly 1,200 employees, more than 90 office locations, and tens of thousands of clients.”

“There are occasions in an organization’s journey that are true landmark moments. It is a dream come true for Buckingham to be able to take part in exactly that kind of transformational opportunity,” said Adam Birenbaum, Chairman and CEO of Buckingham. “I am honored by the trust and faith placed in me to lead such an incredible firm. We have the distinct privilege and mandate to build something truly special, a firm that becomes a destination for exceptional talent in our industry and an advisor and client experience that is phenomenal. That is our north star.”

This transaction comes on the heels of other recent growth for Colony, including the firm recently being joined by GW & Wade and InterOcean Capital. Buckingham combining with Colony will continue building on this momentum.

“This is an exciting opportunity to bring together complementary services and capabilities that will further enhance our common interest to serve clients better,” said Zinovy Iosovich, President and Chief Services Officer of Colony. “We are thrilled to be joining forces with the Buckingham team and to take this next step in our journey of collaboration to build an industry-leading, transformational business.”

“Like Buckingham, Colony is relentlessly, unapologetically client-focused and client-driven,” said Buckingham’s President and Chief Operating Officer, Justin Ferri. “Joining together is not just exciting in terms of what we can do better, faster together; it’s entirely natural as our instincts and values are so incredibly aligned.”

This transaction will create tremendous value and achieve increased alignment for Buckingham, Colony, and Focus through common equity ownership in Focus. The aligned equity culture built through this combination is vital to the long-term vision and success of the combined wealth business.

About Focus Financial Partners Inc.

Focus is a leading partnership of fiduciary wealth management and related financial services firms. Focus provides access to best practices, resources, and continuity planning for its affiliated firms, which 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.

About The Colony Group, LLC

The Colony Group, LLC is an investment advisory firm registered with the Securities and Exchange Commission (the “SEC”) with 29 locations in 14 states. 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’s team 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^TM. For more information about Colony, please visit www.thecolonygroup.com and follow Colony on LinkedIn.

About Buckingham Strategic Wealth, LLC

Buckingham Strategic Wealth, LLC is an SEC registered investment adviser providing an extensive range of fiduciary financial advisory services that support individuals, families, nonprofits and other organizations. With a passion to progress, serve and do the right thing for clients at all times, Buckingham helps to fulfill its clients’ financial dreams using the organization’s proprietary Design | Build | Protect® methodology and an array of data-driven investment and planning strategies.

Headquartered in St. Louis, MO, Buckingham has over 50 offices in 27 states. As of March 31, 2024, the firm managed $30.11 billion in regulatory assets under management or administration. With its sister company, Buckingham Strategic Partners, LLC, it collectively manages or administers over $70 billion of collective assets. For more information, please visit buckinghamstrategicwealth.com.

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