Banyan Partners, the independent wealth management and investment advisory firm which recently bought Boston, MA-based Silver Bridge Advisors, has expanded its national footprint with details of two new acquisitions.

Banyan Partners, the independent wealth
management and investment advisory firm which recently bought Boston, MA-based
Silver Bridge Advisors, has expanded its national footprint with details of two
new acquisitions.

The Palm
Beach Gardens, FL-headquartered
firm is to acquire Dallas, TX-based Rushmore Investment Advisors, a privately-held, employee-owned registered investment advisor,

and Madison, WI-based
independent advisory firm Holt-Smith Advisors. Financial terms were not disclosed.

The
two companies have combined assets under advisement of around $1 billion, 400
clients and 40 years of experience serving high net worth individuals, families
and institutions.

“Rushmore
and Holt-Smith provide us a defined institutional platform, an in-house
international investment capability and a team of highly-skilled portfolio
managers located throughout the central US, another critical market for us,”
said Peter Raimondi, founder and chief executive of Banyan Partners

“Banyan
enables us to take our platform to the next level with new products and greater
scale to meet the needs of our growing client base,” added John Vann, president
and CEO of Rushmore.

Holt-Smith was founded in 1987 and offers several equity strategies including large-cap value,
mid-cap growth and diversified portfolio management services for individuals,
institutions, pension plans, endowments and foundations.

Marilyn
Holt-Smith, president and CEO of Holt-Smith, said the acquisition by Banyan provides the firm with
the tools and support to reach Midwest
investors.

When Banyan first announced its acquisition of Silver Bridge in June, chief strategic officer Scott Dell’Orfano said the
firm's strategy was to achieve organic growth and attract "synergistic"
businesses. 

The new
transactions are subject to customary closing conditions and are expected to
close in October 2013. Click here to view details about Banyan's acquisition of Silver Bridge and here to view an interview with the latter firm. 

Banyan
Partners has over $4 billion in assets under advisement and offices in New York, Boston, MA, Atlanta, GA, Naples, FL, Coral Gables, FL, Fort Worth,
TX. The firm serves high and ultra
high net worth families, family offices, foundations and institutions.