MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, September 15, 2005 Merrill Buys Boston Money Manager Merrill Lynch has picked up $3 billion in assets and 515 advisors in one fell swoop. The Wall Street firm has acquired AXA Financial's Advest Group along with money manager Boston Advisors for $400 million, reports Bloomberg. Boston Advisors manages balanced, equity and fixed-income portfolios for high net worth individuals, families, institutions, endowments and foundations. The money manager has 44 employees, according to its website. Hartford, Connecticut-based Advest has advisors based in the Northeast, Midwest and Florida, according to Bloomberg. The company has a total of 1,560 employees. Advest also has a capital markets business. The transaction is expected to close in the fourth quarter. Printed from: MFWire.com/story.asp?s=10460 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |