Transactions add more than $1.25 billion in assets under management, 450
clients, and two new offices
Arbor Capital, Four Ponds, and Ascension
deepen F.L.Putnam's financial planning and investment management
capabilities with 10 new advisors
LYNNFIELD, Mass., July 25,
2024 /PRNewswire/ -- F.L.Putnam Investment Management
Company today announced that it has acquired independent registered
investment advisors Arbor Capital Management Corp. in Amherst, New York, Four Ponds Financial
Planning LLC in Mashpee,
Massachusetts, 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, Massachusetts. Financial
terms of the transactions, which closed on June 30, 2024, were not disclosed.
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"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," commented 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. 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."
Arbor Capital Management Corp.
Founded by president
and CEO Lawrence McGowan and Chief
Investment Officer Gerald Cole,
CFA®, 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 is operated by a seven-person team that serves
clients nationally from Amherst, New
York, and South Florida. As
of June 30, 2024, Arbor Capital
Management had more than $950,000,000
in assets under management.
Four Ponds Financial Planning LLC
Four Ponds Financial
Planning is an independent registered investment advisor founded in
2007 by David McPherson, CFP®. Based
in Mashpee, Massachusetts, with an
additional presence in Charleston, South
Carolina, the firm provides financial planning and
investment services to private clients nationally. Four Ponds has
four advisors and more than $150,000,000 in assets under management as of
June 30, 2024.
Ascension Asset Management LLC
Ascension Asset
Management is an independent registered investment advisor based in
New York City that provides
portfolio management services to high-net-worth investors, trusts,
and foundations. The firm was founded in 2004 by Grenville Gooder, Jr. and serves clients in
New York and Ohio. As of
June 30, 2024, Ascension Asset
Management had more than $170,000,000 in assets under management.
With these acquisitions, F.L.Putnam now has more than
$10 billion in assets under
advisement ($7.9 billion in assets
under management), 2,500 clients, nine offices, and more than 120
employees across 15 states1
About F.L.Putnam Investment Management
Company
F.L.Putnam is an independent registered investment
advisor that serves individuals, single and multi-family offices,
endowments, foundations, and other RIAs. The firm provides a
comprehensive suite of investment, financial planning, and family
office solutions that help clients build, preserve, and manage
their wealth. Headquartered in Lynnfield,
Massachusetts, F.L.Putnam has been serving clients
nationally for more than 40 years. For more information, please
visit www.flputnam.com or follow us on LinkedIn.
Disclosure: Registration with the SEC should not be construed as
an endorsement or an indicator of investment skill, acumen or
experience. F.L.Putnam is not licensed to provide and does not
provide legal, tax, or accounting advice to clients. Advice of
qualified counsel or an accountant should be sought to address any
specific situation requiring assistance from such licensed
individuals. This article should not be construed as an offer,
solicitation, recommendation, or endorsement of any particular
security, products, or services. Nothing in this communication is
intended to be or should be construed as individualized investment
advice. All content is of a general nature. The CFP® designation is
a professional certification mark for financial planners conferred
by the Certified Financial Planner Board of Standards, Inc. (CFP
Board) in the United States. The
CFA® designation is a graduate-level investment credential awarded
by the CFA Institute. For more information on these designations,
please see F.L.Putnam's ADV Part 2B.
Contact
KWM Communications
Kellie Walsh
914-315-6072
kwalsh@kwmcommunications.com
1 Data as of 6/30/2024
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SOURCE F.L.Putnam Investment Management Company