Investment advisory firm Banyan Partners has acquired Earl M Foster Associates, a Miami-based independent SEC Registered Investment Adviser.
Founder and CEO of Banyan Partners, Peter J Raimondi, JD, says: "This merger affords us the opportunity to enhance our service offering to clients in the Miami area and further develop our presence in the Latin and Cuban American community. In addition, the investment acumen that Earl Foster and Nancy Perez and their team bring to Banyan Partners adds a wonderful dimension to what is already one of the highest quality personal investment teams in the country."
Headquartered in Palm Beach Gardens, Florida, the move increases Banyan Partners’ presence in the Miami area. With regional offices in New York, Boston, Atlanta, Memphis, Naples and now Miami, the combined entity provides greater face-to-face access to the firm’s financial advisors, a broader range of wealth services and greater investment opportunities for clients nationwide.
"This combination enhances our capability of managing investments more effectively. Banyan has a similar business culture, level of personal service, professionalism, and investment philosophy," says Earl M Foster, new Managing Director and Principal at Banyan Partners and founder of Earl M Foster Associates. "We couldn’t be more pleased to join the Banyan Partners family, which affords our clients immediate access to a broader range of investment solutions, especially Banyan’s expertise in option trading."
Nancy Perez, CFA, new Managing Director and Principal at Banyan Partners and former Vice President, Senior Investment Officer, and Principal of Earl M Foster Associates, says: "We are excited to be partnering with a firm with the resources and network of Banyan Partners. Our clients will benefit from an expanded team of investment professionals, while continuing to receive our personalised investment management services."
Effective immediately, Earl M Foster Associates will change its name and become part of Banyan Partners. All company executives and key employees will continue as part of the new firm. Their programs, service offerings and strategies will remain and be enhanced as a result of the merger. Terms of the deal were not disclosed.