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V O L . X X I X N O. I V F E B R UA R Y 2 0 , 2 0 2 3 18 W E A LT H M A N A G E M E N T / R E T I R E M E N T W hen F.L.Putnam Investment Management Co. acquired New York-based Atrato Advisors LLC in 2021, it was the next logical step in a growth strat- egy that also included new hires, the launch of a new research platform, additional acquisitions and an infu- sion of capital. "e growth reflects interest and demand for our services," says Tom Manning, president and CEO of F.L.Putnam. "As we've had the ability to grow, we've looked to expand our capabilities." Wealth management firms are under- going transformations, new hires and promotions, acquisitions, moves to larger quarters or expansions in other ways. Factors driving growth include evolving client expectations in a volatile economy. ere's a shift in the wealth management field toward a comprehen- sive approach to all aspects of a client's financial management needs and expand- ing opportunities across all asset classes. "It's hard for people to work with three or four service providers," says Manning. "If they can work with one firm that can help them think through their retirement plan, think through their estate plan, think about education or long-term care planning — there's real demand for that." Alternative investments e acquisition of Atrato illustrates F.L.Putnam's expansion into the alternative investment space, as clients demand opportunities for investments away from the volatile public markets and into alternatives such as private equity, real estate, infrastructure and precious metals. "Alternatives provide diversifica- tion," says Manning. Now called Atrato Consulting, the practice also introduced a platform to allow registered investment advi- sors to access investment manager research, market strategy content, and execute direct investments in alternatives through a technology partnership with +SUBSCRIBE, an alternative invest- ment order management system for non-traditional product transactions. As registered investment advisors grow and scale, "the need for sophis- ticated investment advice, tools and capabilities increases exponentially," says Manning. Other acquisitions in recent years include Wolfeboro, N.H., financial planning firm Financial Focus and Woburn, Mass., independent reg- istered investment advisor Salem Capital Management. In December, New York-based Emigrant Partners, specialist capital P H O T O / J I M N E U G E R Financial wellness Wealth management firms are growing as they navigate client expectations for comprehensive guidance B y L a u r i e S c h r e i b e r Tom Manning, president and CEO of F.L.Putnam Investment Management Co., says acquisitions, new hires, the launch of a new research platform, additional acquisitions and an infusion of capital are driving its growth strategy. F O C U S Alternatives provide diversification. — Tom Manning F.L.Putnam Investment Management Co.

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