NEW YORK, Aug. 26, 2019 (GLOBE NEWSWIRE) -- Focus Financial Partners Inc. (FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Harvest Capital Management, LLC (“Harvest”), a registered investment advisor based in Concord, New Hampshire, will join Focus partner firm The Colony Group, LLC (“Colony”). The transaction is expected to close in the fourth quarter of 2019, subject to customary closing conditions.
Harvest was founded in 1995 by Marshall Rowe, the firm’s CEO. Rowe later partnered with Jim Fitts, CFP®, and John Weeks, CExP™, as the firm enhanced its talent and service offerings to meet the needs of business owners anticipating strategic transactions with respect to their businesses. Harvest’s services and capabilities will further expand Colony’s family office service offering for ultra-high net worth and high net worth families. Harvest’s sustainable investing solutions will also enhance Colony’s existing investment strategies. Rowe will join Colony’s executive team and lead its Business Owner Practice.
“We are honored to have Marshall Rowe and the talented Harvest team join Colony,” said Michael Nathanson, Chairman and CEO of Colony. “Harvest has developed an engaging, differentiated process that takes business owners – often the leaders of family-owned businesses – through strategic transactions, helping them consider not only the financial implications but also how various structures and outcomes may impact their professional identities and family dynamics. We believe that this capability will be a significant addition to the solutions we currently offer to our business owner clients.”
“We are very pleased that Marshall and the rest of the Harvest team will be joining Colony,” said Rudy Adolf, Founder, CEO and Chairman of Focus. “Given the two firms’ cultural alignment and similar client service philosophies, this transaction will create meaningful benefits, in particular for the combined firm’s business owner clients. Transactions like this further reinforce the value we offer to our partner firms as they benefit from our expertise and scale, as well as our leading M&A capabilities.”
About Focus Financial Partners Inc.
Focus Financial Partners Inc. (FOCS) (“Focus”) is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they 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 (“Colony”) is an independent, fee-only financial advisory firm with locations in Massachusetts, New York, Virginia, Colorado, Florida and Maryland. Colony provides high net worth individuals and families, corporate executives and entrepreneurs, professionals, athletes, institutions, businesses and non-profit organizations with deep expertise that goes beyond investment management and can encompass tax, estate, retirement, and philanthropic planning, asset allocation, and cash and risk management. For more information about Colony, please visit www.thecolonygroup.com.
Cautionary Note Concerning Forward-Looking Statements
This release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.
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