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F.L.Putnam Funding Administration Firm is bringing belief companies in-house with a deal to purchase New Hampshire-chartered Darwin Belief Firm.
Based in 2019 by Lawyer John Gosselin and Melissa Sommer, a CFA and CPA, Darwin serves round 110 rich purchasers from places of work in Arlington, Mass., and Nashua, N.H.
Darwin will maintain its identify after the deal closes, and Sommer will act as managing director. All belief workers within the Arlington workplace will probably be transferred to the RIA’s Lynnfield, Mass., headquarters. Monetary phrases weren’t disclosed.
“We’re happy to have recognized such an distinctive group to steer our belief enterprise,” F.L.Putnam CEO Tom Manning shared in assertion, calling the deal an “essential step in direction of our dedication to ship subtle companies and options.”
“This acquisition represents an thrilling new chapter for Darwin because it permits us to leverage F.L.Putnam’s in depth assets and experience to boost the worth we ship to our purchasers,” mentioned Gosselin.
“We look ahead to working alongside Tom and the group at F.L.Putnam to offer holistic options to fulfill the wants of our collective shopper base,” added Sommer.
F.L.Putnam has been named to WealthManagement.com’s RIA 100 record, twice, for remaining centered on shopper service amid industry-leading progress charges. The agency gives a menu of funding, monetary planning, and household workplace options for people, single and multi-family places of work, endowments, foundations, and different RIAs.
After rising property by virtually $2 billion during the last 12 months, F.L.Putnam manages about $6.1 billion for greater than 1,800 households—together with 1,058 purchasers with a median of $4 million invested—171 charities and 13 firms.
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