Beacon Investment Advisory Services, a registered investment adviser and wholly owned subsidiary of Beacon Trust Company, a Morristown, New Jersey-based, full-service wealth management firm (Beacon Trust), has completed its previously disclosed acquisition of New York City-based, independent registered investment adviser, Tirschwell & Loewy, Inc.
Beacon Trust will operate the newly acquired firm, Tirschwell Loewy & Friedner Investments, as a division of Beacon Trust. Jeffrey Loewy and Howard Friedner will continue to manage the firm’s investment strategy. With the completion of this acquisition, the total assets under management of the combined companies are approximately USD3 billion.
“We are pleased to welcome the clients and employees of Tirschwell & Loewy to Beacon Trust. I am confident that Tirschwell & Loewy’s reputation and talented team will be a tremendous asset to our organisation and will enable us to grow our business in the desirable New York City market,” says Valerie Murray, President of Beacon Trust. “With our combined resources, we look forward to delivering enhanced wealth management services and solutions to all of our clients.”
Jeffrey Loewy and Howard Friedner say: “We are delighted to be joining Beacon Trust. By combining our investment management business with Beacon Trust’s full-service wealth advisory business, we are confident we will be able to serve our clients better than ever.”
Keefe, Bruyette & Woods served as the financial advisor to Beacon Trust, and Morgan, Lewis & Bockius, served as its legal counsel. Park Sutton Advisors, LLC served as the financial advisor to Tirschwell & Loewy, and BakerHostetler served as its legal counsel.