F.L.Putnam secures minority investment to fund expansion

F.L.Putnam has secured a minority investment from Bixby Wealth Solutions, supporting adviser growth and national expansion while preserving the firm's independence.

FLP manages more than $11 billion in assets for clients as of 1 July 2026, and has more than 165 employees located across 14 offices in the US. The firm will continue to operate independently and under the same leadership team led by CEO Tom Manning, and FLP employees will continue to hold a significant minority equity stake in the firm.

"This strategic investment positions FLP for our next phase of growth," said Tom Manning, CEO of FLP. "Partnering with Bixby provides us additional flexibility to invest in our people, technology and capabilities while pursuing selective opportunities to expand into new markets and welcome like-minded advisors to the firm. Most importantly, it enables us to continue delivering the thoughtful, personalised advice our clients have trusted for more than 40 years." Manning added, "I would like to thank the Emigrant Partners team for their support and assistance over the past four years. We are grateful for the partnership and proud of what we achieved together."

Bixby, an arm of Moontower Group, is a specialist platform that forges strategic minority partnerships with independent wealth management firms and is backed by Carlyle's Global Credit Business. For its partner companies, the Bixby platform offers scalable capital to facilitate firm growth and promote a culture of internal equity ownership across generations.

"We believe Tom and the FLP leadership team have built an exceptional firm with a strong culture, a highly respected brand, and an unwavering commitment to their clients," commented Russell Valdez, managing partner and founder of Moontower Group. "We are excited to support the next chapter of FLP's growth by helping the firm continue to attract outstanding talent, pursue strategic opportunities, and invest in the capabilities that will position FLP for long-term success."

Re-disseminated by Wealth and Society