A West Hartford financial advisory firm with $6.6 billion in assets under management has merged with a Boston company, according to an announcement.
GYL Financial Synergies has joined The Colony Group LLC in a merger that was completed Nov. 1, the companies announced.
As a result of the deal, Colony said it has doubled the size of its institutional practice and increased its number of U.S. offices to 100. GYL lists five different offices on its website, including two in Connecticut. Its headquarters is located in West Hartford’s Blue Back Square, at 75 Isham Road. It also has a Westport office.
GYL has institutional and private clients and provides investment management, financial planning, institutional consulting and family office services.
Former GYL CEO Gerry Goldberg has joined Wendy Hartman as a division president at Colony, the firms said, adding that a rebranding of the combined enterprise will take place in the near future.
GYL and The Colony Group are both part of New York City-based and private equity-backed Focus Financial Partners Inc., which invests in wealth management and financial services firms.
The GYL deal marks the eighth merger into Colony this year, the firm said.
