Fiduciary Trust Company International, a global wealth manager and subsidiary of Franklin Templeton, has completed its acquisition of Athena Capital Advisors LLC in a merger transaction. Terms of the transaction were not disclosed.
Athena Capital is a registered investment advisor with approximately $6 billion in assets under management, and Fiduciary Trust’s total assets under management increased to approximately $25 billion following the acquisition.
Athena Capital was founded in 1993 and specializes in impact investing, risk management, quantitative investment management, outsourced chief investment officer services, family office support, and building diversified portfolios using an endowment investing style. The RIA is based in Lincoln, Massachusetts and has an additional office in New York City.
“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,” said John M. Dowd, chief executive officer of Fiduciary Trust Company International.
Fiduciary Trust Company has served individuals, families, endowments and foundations since 1931. The firm specializes in strategic wealth planning, investment management and trust and estate services, as well as tax and custody services, and has more than $77 billion in assets under management and administration as of December 31, 2019.
Franklin Resources Inc. (NYSE: BEN) is a global investment management organization operating as Franklin Templeton. The California-based company has more than 70 years of investment experience and more than $688 billion in assets under management as of January 31, 2020.
Franklin Templeton recently announced plans to purchase Legg Mason Inc. (NYSE: LM) for $4.5 billion in an all-cash transaction.