Capital Advisors of Southborough to join Boston firm

Capital Advisors, LLC, a Southborough-based wealth management firm, is merging with Boston-based The Colony Group, LLC, according to a Friday press release from Colony.

Founded in 2003, Capital Advisors has three employees, all of whom will stay on with the company through the merger, Founder Gus Gerulskis (CQ) told WBJ. The company didn’t disclose the purchase price of the deal.

Upon closing this transaction, The Colony Group will have 19 offices and 300 team members, with a total of $13 billion in assets under management. 

“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,” said Gerulskis, who will join Colony Advisors as a senior wealth advisor, in a statement.

The deal is expected to close later this year, per the announcement.