NEW YORK–(BUSINESS WIRE)–Fiduciary Trust Company International, a global wealth manager and wholly-owned subsidiary of Franklin Templeton, has finalized its acquisition of Athena Capital Advisors, LLC in a merger transaction today. The purchase of Athena Capital, a national registered investment advisor (RIA) with approximately $6 billion in assets under management, will further diversify Fiduciary Trust Company International’s investment and wealth management solutions for high-net-worth and ultra-high-net-worth clients.
Athena Capital was founded in 1993 and specializes in impact investing, risk management, quantitative investment management, outsourced chief investment officer (OCIO) services, family office support, and building diversified portfolios using an endowment investing style. The RIA, established by Lisette Cooper, PhD, is based in Lincoln, MA, and has an additional office in New York, NY. Athena Capital’s longstanding presence in suburban Boston expands Fiduciary Trust Company International’s national footprint, giving the firm a strong foothold in the New England region.
“Lisette and her team have been pioneers in the fields of impact investing and quantitative investment management, and the due diligence, investment research, and manager selection methodologies they have developed in these areas will strengthen the advisory services we provide across our organization,” said John M. Dowd, chief executive officer of Fiduciary Trust Company International. “The combination of our firms will enhance the experience we can deliver to high-net-worth and ultra-high-net-worth clients across the country.”
Fiduciary Trust Company International’s total assets under management have increased to approximately $25 billion following the acquisition of Athena Capital. Terms of the transaction were not disclosed.
“We share Fiduciary Trust Company International’s belief that the essence of wealth management is giving investors peace of mind,” said Dr. Cooper, formerly founder, managing partner, and chief investment officer of Athena Capital Advisors, who is now vice chairman of Fiduciary Trust Company International. “Merging our firms, expertise, and service offerings will unlock additional value for our clients.”
About Fiduciary Trust Company International
Fiduciary Trust Company International, a global wealth management firm, has served individuals, families, endowments and foundations since 1931. With over $77 billion in assets under management and administration as of December 31, 2019, the firm specializes in strategic wealth planning, investment management and trust and estate services, as well as tax and custody services. The firm and its subsidiaries maintain offices in New York, NY, Coral Gables, FL, Boca Raton, FL, St. Petersburg, FL, Los Angeles, CA, San Mateo, CA, San Francisco, CA, Washington, DC, Wilmington, DE, and Arlington, VA. For more information, please visit fiduciarytrust.com, and for the latest updates, follow Fiduciary Trust on LinkedIn and Twitter: @FiduciaryTrust.
About Franklin Resources
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton. Franklin Templeton’s goal is to deliver better outcomes by providing global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the Company has expertise across all asset classes, including equity, fixed income, alternatives and custom multi-asset solutions. The Company’s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With employees in over 30 countries, the California-based company has more than 70 years of investment experience and over US$688 billion in assets under management as of January 31, 2020. For more information, please visit franklintempleton.com.
Forward-looking statements
The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements. Any forward-looking statements herein are made only as of the date of this press release, and the company assumes no obligation to update any information or forward-looking statement contained herein, except as required to be disclosed by law.
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Contacts
Rebecca Radosevich: 212-632-3207
rebecca.radosevich@franklintempleton.com
Dana Taormina: 973-850-7305
dtaormina@jconnelly.com
