Mintz Levin unit being acquired by Colony Group

Mintz Levin Financial Advisors, the investment management arm of the Boston law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, has agreed to be acquired by the Colony Group in Boston, the firms said Wednesday. Terms of the deal were not disclosed.

Mintz Levin Financial manages more than $1 billion for wealthy families and individuals. Under the deal, the group will become part of Colony, an affiliate of Focus Financial Partners of New York. Together, Mintz and Colony will have $2.5 billion in assets.

Mintz Levin Financial was founded in 1998 by well-known Boston financial adviser Robert Glovsky, Cary Geller, and the law firm Mintz, Levin, at a time when many law firms were expanding in the investment field. Their advisory firm will move to Colony’s offices and adopt the new firm’s name. Geller and Glovsky will join Colony’s management team.

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BETH HEALY

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