The Financial Industry team advised Fiduciary Trust Company International and Franklin Resources, Inc. (Franklin Templeton) on its agreement to acquire Athena Capital Advisors, LLC.
Fiduciary Trust Company International is a global wealth manager with over $75 billion in assets under management and administration as of September 30, 2019. It is a wholly-owned subsidiary of Franklin Templeton (NYSE:BEN), a global investment management organization with over $691 billion in assets under management. Athena Capital is a nationally registered investment advisor (RIA), has approximately $6 billion in assets under management.
The acquisition will expand Fiduciary Trust Company International’s offerings, further diversifying the firm’s investment solutions for meeting the evolving needs of high-net-worth and ultra-high-net-worth clients. Following the acquisition, Fiduciary Trust Company International’s assets under management will be approximately $25 billion.
For more details on the agreement, read the press release.