$11B RIA F.L.Putnam Secures Minority Investment from Bixby Wealth
F.L.Putnam, a registered investment advisor (RIA) with $11 billion in assets under management, has secured a minority investment from Austin-based Bixby Wealth Solutions. The deal marks the exit of Emigrant Partners, which had acquired a stake in 2022 when F.L.Putnam managed around $6 billion. CEO Tom Manning will retain majority ownership and leadership control while leveraging additional capital to expand operations, technology, and talent. Since its last investment round, F.L.Putnam has nearly doubled in size through organic growth and strategic acquisitions such as Seascape Capital Management ($500 million AUM) and a $670 million RIA deal that led to the establishment of an office in Kalamazoo, Michigan. The firm also added wealth services like Trust Company in 2024. Bixby Wealth is backed by Carlyle's Global Credit Business and has previously invested in U.K.-based James Hambro & Partners.
Topics: Bixby Wealth Solutions F.L.Putnam investment firm RIA