F.L.Putnam Expands East Coast Footprint with Three Acquisitions

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.

"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
[email protected]
¹ Data as of 6/30/2024

SOURCE F.L.Putnam Investment Management Company