Colony has approximately $1.3 billion in assets under management and this partnership should boost Focus' AuM to $45 billion, the companies said in a statement. Colony is headquartered in Boston and has offices in Naples and West Palm Beach, FL and Washington DC. At present, the firm serves around 800 clients, including high net worth individuals, families and institutions. It has some 40 staff.

Colony was founded by Kirby Hamilton in 1986. After the close of the transaction Hamilton will step down as chairman. The management team for Colony going forwards will be Michael Nathanson, chief executive and president, Stephen Sadler, president of Colony Wealth Management, and Elisabeth Talbot, executive director and chief market strategist.

Focus Financial partners with fiduciary wealth management firms and has been expanding its coverage quickly this year; Colony is the fourth partnership struck in 2011. The firm aims to develop partnerships with firms in three main areas: private wealth management for high net worth individuals, institutional investment consulting and retirement plans.