FLPutnam Investment Management Company is bringing trust services in-house with an agreement to acquire New Hampshire-chartered Darwin Trust Company.
Founded in 2019 by attorney John Gosselin and Melissa Sommer, a CFP and CPA, Darwin serves approximately 110 high net worth clients from offices in Arlington, Mass., and Nashua, NH
Darwin will retain its name after the deal closes and Sommer will act as managing director. All of the trust's employees in the Arlington office will be transferred to RIA's headquarters in Lynnfield, Mass. Financial terms have not been disclosed.
“We are pleased to have identified such an exceptional team to lead our trust business,” FLPutnam CEO Tom Manning said in the statement, calling the deal an “important step toward our commitment to providing services and solutions to sophisticated”.
“This acquisition represents an exciting new chapter for Darwin as it allows us to leverage FLPutnam's extensive resources and expertise to enhance the value we provide to our clients,” said Gosselin.
“We look forward to working together with Tom and the team at FLPutnam to provide holistic solutions to meet the needs of our collective customer base,” added Sommer.
FLPutnam has been named to WealthManagement.com's RIA 100 list, twice, to remain focused on customer service amid industry-leading growth rates. The firm offers a menu of investment, financial planning and family office solutions for individuals, single and multi-family offices, foundations, foundations and other RIAs.
After growing assets by nearly $2 billion over the past 12 months, FLPutnam manages approximately $6.1 billion for more than 1,800 families – including 1,058 clients with an average of $4 million invested – 171 charities and 13 corporations.