Fiduciary Trust Company International, a global wealth manager and wholly-owned subsidiary of Franklin Templeton, has finalised its acquisition of Athena Capital Advisors, in a merger transaction. 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 specialises 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,” says 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 USD25 billion following the acquisition of Athena Capital. Terms of the transaction have not been disclosed.
“We share Fiduciary Trust Company International’s belief that the essence of wealth management is giving investors peace of mind,” says 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.”