Company Details
Founded in 1983, F.L. Putnam Investment Management Company ("F.L. Putnam") distinguishes itself by the remarkable qualities of its people; intellect, integrity, and experience that have consistently supported clients and their goals. F.L. Putnam offers a comprehensive suite of client-tailored services, guided by shared values that prioritize accessibility, approachability, and collaboration. The firm's adaptable platform serves clients of all sizes, including high-net-worth, ultra-high-net-worth, and non-profit organizations, complemented by sophisticated alternative investment capabilities acquired in 2021. Embracing continuous improvement, the firm fosters a team-oriented atmosphere within three-person client teams, ensuring transparency in all systems, facilitated by heavy use of Salesforce. Their culture values innovation, encourages fresh perspectives, and fosters creative problem-solving.
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Acquisition Model
Max Cash: 100%
Max Equity: $500,000
Standard retention terms is 50% held over 24-36 months.
Mandatory Points of Alignment
To scale the business effectively, F.L. Putnam asks all partners to adopt their technology and systems.
Partners are permitted to manage their own calendars.
Partners will have visibility into the local P&L.
F.L. Putnam asks all partners to adopt their client experience.
F.L. Putnam has a team dedicated to practice management that they encourage advisors to utilize.
F.L. Putnam centralizes asset allocation decisions but advisors may retain partner equity or fixed income strategies, and integrate them into their centralized platform.
Advisor Value Proposition
F.L. Putnam boasts a para-planning team and portfolio analyst team that serves as a grooming ground for future advisors, with a three-year tenure. F.L. Putnam will also cover the cost of their CFP licenses and provide paid study leave, highlighting their commitment to employee growth.
F.L. Putnam provides both local and centralized financial planning services and offers credit solutions through third-party vendors. They also have a vendor in place to manage 401k plans for clients.
F.L. Putnam will take over all back office functions, including marketing, operations, centralized investments, trading, compliance, legal, HR, finance, and functional reporting.
In addition to financial planning and portfolio management, F.L. Putnam offers OCIO services, insurance, tax management, and estate/legacy planning. As of the fall of 2024, F.L. Putnam will offer trust services.
F.L. Putnam has a marketing department and utilizes outsourced PR services to effectively manage their presence on social media platforms like LinkedIn. Additionally, the company conducts quarterly webinars on various topics for clients. Additionally, F.L. Putnam utilizes the Schwab Advisor Network and Fidelity Wealth Advisory Services referral platforms for growth and offers advisor incentive plans. They have a dedicated business development team with members assigned to Schwab and Fidelity, tasked with identifying and pushing leads to advisors. Last year, F.L. Putnam generated 150 million dollars of AUM through its referral programs. They have had a successful 20-year history with Schwab, while their partnership with Fidelity is relatively new.
F.L. Putnam has two dedicated team members responsible for overseeing both investment advisors and client advisors to assist partners in various aspects. This includes defining staff roles and responsibilities at their local office, aiding in employee reviews and performance management, recommending a structured workweek model for local offices, identifying and implementing strategic growth initiatives, and managing local offices to achieve specific KPIs.
AUM Growth
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