The Fiduciary Trust Co. International, a subsidiary of Franklin Resources Inc., will acquire Athena Capital Advisors in a transaction structured as a merger. Athena, a registered investment adviser based in Lincoln, Mass., manages approximately $6 billion in assets.
Athena was established in 1993 by Lisette Cooper, who will remain with the firm.
Following the acquisition, Fiduciary’s AUM will total approximately $25 billion.
Terms of the deal were not disclosed.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
