Wealth manager Fiduciary Trust Company International, part of Franklin Templeton, has agreed to buy Athena Capital Advisors for an undisclosed sum.

Athena Capital was set up by Lisette Cooper in 1993. The RIA offers outsourced chief investment officer (OCIO) services and family office services, among others. It focuses on impact investing.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The business has operations in Massachusetts and New York.

The merger deal will add around $6bn in assets to Fiduciary Trust’s books, increasing its assets under management to $25bn.

The takeover is said to diversify the firm’s investment offering to enable it to better serve ultra-rich customers.

The deal is slated to wrap up in Franklin Templeton’s second quarter of fiscal 2020.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Fiduciary Trust Company International CEO John Dowd said: “Athena Capital brings enhanced investment research, manager selection, and due diligence that will complement and strengthen our existing strategic advisory services.

“Athena Capital is a pioneer in the field of impact investing, working with clients to align their investment portfolios with their social and mission-based values.

“Athena’s suburban-Boston location deepens our reach in the New England area, increasing the breadth and depth of our offering and enhancing the value we can bring to clients of both firms.”

Fiduciary Trust Company International offers wealth planning, tax and custody services, investment management as well as trust and estate services. The firm has presence in New York, Florida, California, Washington, DC, Delaware, and Virginia.