FL Putnam Investment Management Co., an SEC-registered investment adviser, has expanded its footprint in the US East Coast, with the acquisition of three independent investment advisors.
It has acquired Arbor Capital Management in Amherst, New York, Four Ponds Financial Planning in Mashpee, Massachusetts, and Ascension Asset Management in New York City.
Through the acquisitions, FL Putnam added more than $1.25bn in assets under management, 10 new advisors, and new offices in Western New York and Cape Cod, Massachusetts.
The investment adviser now has more than $10bn in assets under advisement ($7.9bn in assets under management), 2,500 clients, nine offices, and over 120 employees across 15 states.
F.L.Putnam CEO Tom Manning said: “F.L.Putnam has become an attractive destination for successful RIAs to accelerate their growth and scale their businesses as we can add complementary services and solutions they do not currently offer today.
“We place tremendous value on the expertise of the talent and firms we bring into F.L.Putnam. Larry, Jerry, David, and Gren have built solid businesses with strong reputations in their respective markets.
“We are excited to have them join our growing team and look forward to investing further in the local markets in which they operate.”
Established in 1995, Arbor Capital Management provides investment management services to more than 250 high-net-worth individuals, family businesses, and institutions.
The independent registered investment advisor (RIA) is operated by a team of seven people, and serves clients across the country, from Amherst, New York, and South Florida.
Arbor Capital Management had more than $950,000,000 in assets under management, as of 30 June 2024.
Four Ponds Financial Planning is an independent RIA founded in 2007, based in Mashpee, Massachusetts, with an additional presence in Charleston, South Carolina.
The firm provides financial planning and investment services to private clients through its four advisors and more than $150,000,000 in assets under management as of 30 June 2024.
Established in 2004 in New York City, Ascension Asset Management is an independent RIA that offers portfolio management services to high-net-worth investors, trusts, and foundations.
Ascension had more than $170,000,000 in assets under management, as of 30 June 2024.
