Osaic affiliate GCG Advisory Partners and F.L.Putnam Investment Management have each moved to expand their footprints through separate acquisitions this week.
GCG Advisory Partners, parent of GCG Wealth Management, has acquired Gateway Capital Advisors, a St. Louis-based firm overseeing $400 million in assets. The deal brings Gateway’s managing partners Dustin Ward, Shaun Griese and Joseph Sigman into GCG as operating and equity partners.
Under the new partnership, Gateway will gain access to GCG’s technology stack, operational infrastructure, marketing capabilities and succession planning resources, while maintaining its brand and day-to-day operations.
“We are thrilled to welcome Dustin, Shaun and Joe as partners of GCG. They have built Gateway Capital Advisors into an outstanding practice over the past decade, as demonstrated by the caliber of their client relationships, the depth of their expertise, and the team-oriented culture they’ve built,” said Joel Burris, CEO and managing partner at GCG Advisory Partners. “This partnership is also a testament to the environment that Osaic enables, where advisors can connect and collaborate in ways that make everyone stronger.”
Gateway’s leadership said the partnership will allow the firm to scale while preserving its client-first approach. Terms of the transaction were not disclosed.
Meanwhile, Boston-based F.L.Putnam Investment Management has acquired Arcadia Investment Management Corporation, marking its first expansion into the Midwest with a new office in Kalamazoo, Michigan.
The addition of Arcadia, which manages more than $670 million in assets, pushes FLP’s total assets under management past $10 billion and represents the firm’s 10th acquisition under CEO Tom Manning.
“Our partnership with Arcadia is a pivotal moment in FLP's growth. Gaining a physical presence in the Midwest, a market with tremendous opportunity, led by a seasoned team of investment professionals, strengthens our platform significantly. With assets under management now surpassing $10 billion, we are well-positioned to deliver exceptional value to clients across the country,” Manning said.
Arcadia’s entire team, led by Michael Mueller, Jerry Love and Dorsey Martin, has joined the firm.
“We are excited to begin this new chapter with Tom and his team. FLP shares our commitment to client service and investing, and this combination positions us well for continued growth,” said Mueller.
The transaction closed March 31, with financial terms undisclosed.
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