F.L.Putnam Investment Management Company announced that it has acquired independent registered investment advisors Arbor Capital Management Corp. in Amherst, N.Y., Four Ponds Financial Planning LLC in Mashpee, Mass., and Ascension Asset Management LLC in New York City. The three acquisitions add more than $1.25 billion in assets under management, 10 new advisors, and new offices in Western New York and Cape Cod. Financial terms of the transactions, which closed June 30, were not disclosed.
“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,” said Tom Manning, CEO of F.L.Putnam. “We place tremendous value on the expertise of the talent and firms we bring into F.L.Putnam.”