BOSTON, Aug. 9, 2021 /PRNewswire/ -- The Colony Group, a national, award-winning financial advisory, wealth, and business management firm that manages over $13 billion in regulatory assets under management as of April 30, 2021, announced an agreement for a strategic transaction with Legacy Wealth Partners, based in Calabasas, CA. Colony will have 17 offices nationally with over 275 team members upon the closing of the transaction, which is expected to close later this year, subject to customary closing conditions.
"We had been looking for a wealth management team to complement our growing multifamily office and business management team in southern California," shared Michael Nathanson, Chair and CEO of The Colony Group. "We enthusiastically welcome Brad Levin, as well as the talented Legacy Wealth team, as we seek to deliver a comprehensive offering to a growing roster of valued clients, including entertainment industry talent, business owners, professionals, and retirees."
Legacy Wealth Partners, located in Calabasas, CA, was founded in 2001 by Brad Levin. David Tracy joined Mr. Levin in 2004 and ultimately became a partner in the firm as they sought to enhance the firm's talent and expand its service offering. "Joining Colony is the culmination of everything we have been working on over the past twenty years," shared Mr. Levin, who will join Colony as a Managing Director and Senior Wealth Advisor. "We were seeking a partner that shared our culture so we could maintain our high-touch, boutique approach, while broadening the capabilities now available to us as part of a larger enterprise."
Colony and its team members have received distinguished financial industry awards over many years. They have been recognized by Barron's, both as a Top Independent Advisor from 2009 to 2017 and as a Barron's Top RIA Firm from 2018 to 2020. Colony was also recognized by InvestmentNews on its list of Best Places to Work in 2018, 2019, and 2021.
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 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 ColonyTM.
Award and Recognition Disclosures
Barron's criteria: Top 40 RIA Firm (2018-2020) – 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.
InvestmentNews Top 75 Best Places to Work (2018-2021) – Award recipients must be a registered investment adviser or affiliated independent broker-dealer; be in business a minimum of one year and have at least 15 employees. Information is gathered from the advisor regarding employee benefits and policies, and employees confidentially answer a survey regarding employee engagement and satisfaction.