Glass Malek of Los Angeles to Join The Colony Group
BOSTON, Sept. 25, 2019 — The Colony Group, LLC (“Colony”), an independent, national, award-winning wealth management firm, announced an agreement for a strategic transaction with Glass Malek LLP (“Glass Malek”), a full-service multifamily office and business management firm based in Los Angeles, CA. This transaction will expand Colony’s offices and services into California. Colony, which manages approximately $10 billion in regulatory assets for clients, will have 14 offices in seven states with over 200 employees upon the closing of the transaction, which is expected in the fourth quarter of 2019.
“Consistent with our strategic plan, we are delighted to establish a physical presence in California, a market where we already serve clients but also view as a growth opportunity,” said Michael Nathanson, Chairman and CEO of Colony. “This transaction will also enhance Colony’s existing multifamily office and business management offering, a critical client service offering in which we have made a significant investment. In addition to expanding our geographic footprint, this will be our second strategic transaction in two years in this space. We have been especially impressed by the expertise of the Glass Malek team, as well as by the deep relationships they have established in the entertainment industry, and also with entrepreneurs and other successful individuals and families.”
With origins dating back more than 40 years, Glass Malek, through its experienced team of financial professionals, manages the business and financial affairs of musicians, actors, writers, TV personalities, studio executives and influencers, along with athletes and successful entrepreneurs and executives. Recognized as one of Variety Magazine’s Business Managers Elite, the expertise Glass Malek provides to its clients is an essential element of their success.
Founding Partner Paul Glass reflected, “Our team enjoys the work that we do for our clients. When we looked to the future of our business, we believed that Colony was the optimal partner to deliver the services, technology and infrastructure to allow us to best serve our clients for years to come.”
In addition to multifamily office and business management services, including accounting, tax compliance and planning, tour accounting, and royalty/publishing services, the combined firm will offer its comprehensive investment and wealth management and life-enrichment services for clients in and around the Los Angeles area. The combined firm also plans to expand its dispute resolution services, as well as its innovative Her Wealth® initiative to this area. Her Wealth® is an education and enrichment initiative that provides women with the financial confidence and resources they need to manage their wealth.