FUNDRAISING NEWS | July 30, 2024
F.L.Putnam Investment Management Co. has expanded its East Coast presence through the acquisition of three registered investment advisory firms. The firms acquired are Arbor Capital Management Corp., Four Ponds Financial Planning, and Ascension Asset Management. These acquisitions bring 10 financial advisors managing $1.25 billion for 450 clients to F.L.Putnam.
Arbor Capital, the largest of the acquisitions, is based in Amherst, New York, and was founded in 1995 by Lawrence McGowan and Gerald Cole. Arbor Capital has a seven-person team managing over $950 million for more than 250 clients. Four Ponds Financial Planning, founded in 2007 by David McPherson, is headquartered in Mashpee, Massachusetts, with a location in Charleston, South Carolina. Four Ponds has four advisors managing over $150 million. Ascension Asset Management, founded in 2004 by Grenville Gooder Jr., is based in New York City. Ascension oversees more than $170 million for high-net-worth investors, trusts, and foundations.
The financial terms of the acquisitions were not disclosed. These additions significantly strengthen F.L.Putnam’s capabilities and reach. The firm is based in Lynnfield, Massachusetts.
To view the press release, click here.
John Washington is the Data Research Analyst at Dakota.
