Bringing you live news and features since 2006 

Beacon Trust Company acquires Clear Asset Management

RELATED TOPICS​

Madison, New Jersey-based asset and wealth manager Beacon Trust Company has acquired Clear Asset Management in a transaction that will create a firm with combined assets under management a

Madison, New Jersey-based asset and wealth manager Beacon Trust Company has acquired Clear Asset Management in a transaction that will create a firm with combined assets under management and advice of some USD1bn.

Beacon’s president and chief executive, Marc Paley, will head the combined business, while Fred Fraenkel, Clear’s former chairman, has become Beacon vice-chairman and will chair the investment policy committee. Clear’s founder and chief executive Andrew Corn also joins Beacon as an executive vice-president and chief investment officer for equities.

‘The addition of Clear Asset Management’s team and products will greatly enhance our high-touch service franchise and position the firm for growth,’ Paley says, noting that Beacon has filed to open a branch in New York City to expand its client reach and to house part of the investment team.

‘Clear’s investment process has a proven four-year track record,’ Fraenkel says. ‘Bringing this top-tier performance to Beacon will augment its existing processes.’ Clear adds five long-only portfolios and two investment partnerships with hedging strategies to Beacon’s offerings, while subsidiary Clear Indexes adds three indices that are tracked by ETFs.

Beacon is a 20-year-old limited purpose trust company active as an investment manager, executor, trustee and custodian for families and institutions, and has some USD900m in assets under management for individuals and institutions in actively managed equity and fixed-income separately managed accounts.

The firm’s services include asset management, fiduciary services, professional planning and administration services for estates and trusts, custodial services, custodial and safekeeping services for US dollar-denominated securities, tax return preparation, personal bill payment and investment planning, and executor, trustee and guardian services.

Latest News

European ETFs raised USD47.8 billion in Q1, a 15 per cent increase compared to the same period in 2023, according..
LSEG Lipper’s March report finds that globally equity ETFs (+EUR113.2 billion) enjoyed the highest estimated net inflows for the month,..
Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by