The transaction, in which Boston Advisors will acquire Babson-United Investment Advisors, Inc, is expected to close in May.
The combined firm, which will be based in Boston, will feature 20 investment advisors and will manage $3.5 billion in assets.
Babson also manages money for institutional and
individual clients with $1.2 billion in assets.
Lawrence Manning, Babson’s senior vice president and chairman of the Investment Committee will become Boston Advisors’ Investment Committee Chair. Babson-United will continue to operate its Securities Research Company division, a stock charting firm.
« SURVEY SAYS: Readers Weigh in on ERSAs