Greenwich, Connecticut-based
Fieldpoint Private Bank & Trust has acquired Nutmeg Securities, a broker-dealer located in Westport, Connecticut, for an undisclosed amount.

Fieldpoint said the acquisition will enable it to expand its wealth management platform into traditional debt and equity securities transactions, as well as insurance and annuities. Nutmeg, founded in 1986, provides agency-only execution and settlement services.

"We will continue to service the needs of Nutmeg's clients and look forward to enhancing the wealth strategy potential for our members at Fieldpoint Private, now incorporating Nutmeg's core expertise," said Robert Matthews, president and chief executive of Fieldpoint Private.

In related news, last month Fieldpoint Private Bank &Trust also completed its acquisition of Analytic Asset Management, a New York City-based RIA, establishing a presence in NYC. Furthermore, the firm struck up a partnership with Mercer earlier this month to strengthen its manager research and due diligence capabilities.