The Colony Group (Colony), a Boston-based advisory, wealth and business management firm, has agreed to acquire Capital Advisors LLC, a Southborough, Mass.-based wealth management firm with $165 million in assets under management, according to a news release.
The transaction, subject to customary closing approvals, is expected to close later this year. Financial terms were not disclosed.
Gus Gerulskis, who founded Capital Group in 2003, will join Colony as a senior wealth advisor. He said he has gotten to know Colony’s deep bench of professionals over many years. “It was an easy decision for us to join Colony as we serve the increasingly complex needs of our clients, including those anticipating a business transition," he said in a statement.
“We have known Gus for many years and are delighted that he and his colleagues will join the Colony team," said Michael Nathanson, chair and CEO of The Colony Group. "Colony will be strategically located in five offices across Massachusetts, making it even more convenient for high-net-worth families to access our wealth management and tax services."
Capital Advisors is the fourth acquisition this year for The Colony Group, which has $13 billion in assets under management. The firm will have 19 offices nationally, including five in Massachusetts, and more than 300 employees at the completion of the merger.