PALM BEACH GARDENS, Fla., Jan. 20, 2011 (GLOBE NEWSWIRE) -- Banyan Partners, LLC (), an investment advisory firm specializing in customized investment portfolios, and Weiss Capital Management, Inc. (), an independent SEC Registered Investment Adviser, jointly announced a strategic acquisition that results in a national wealth management and investment advisory firm servicing over $1 billion in combined assets under management.
Founder and CEO of Banyan Partners, Peter J. Raimondi, JD, said, "We could not be more pleased to add the breadth and depth of services that Weiss Capital Management has offered for more than two decades as a perfect complement to our existing core and alternative investment strategies."
The combined firm will remain located in Palm Beach Gardens, Florida, with regional offices in New York, Boston, Atlanta, Memphis and Naples, providing greater face-to-face access to the firm's financial advisors, a broader range of wealth services and even greater investment opportunities for clients nationwide.
"At Weiss Capital Management, we are proud of our 25+ -year history as an independent, investment advisory firm that offers unique strategies and programs designed for capital appreciation in all market conditions," said Banyan Partners new Executive Vice President Sharon Daniels (formerly President of Weiss Capital Management).
Daniels continued, "However, in today's competitive global marketplace, economies of scale are becoming increasingly important to effectively deliver exceptional products, services and value to our clients. Our search for a firm with both a shared culture and many complementary synergies has us both excited and energized as we usher in a new level of customer care under the Banyan name.
"We believe this acquisition will afford our clients greater access to a host of new investment and wealth management services as well as access to Banyan's unique and customized equity strategies that our clients desire."
Effective immediately, Weiss Capital Management will change its name and become part of Banyan Partners. All company executives and key employees will be absorbed as part of the new firm. All programs, service offerings and strategies will remain or be enhanced as a result of the merger. Terms of the acquisition were not disclosed.
About Banyan Partners
Banyan Partners, LLC is a fee-only, SEC Registered Investment Advisor headquartered in Palm Beach Gardens, Florida, with regional offices in New York City, Boston, Atlanta, Memphis and Naples. Banyan provides clients with customized, disciplined and strategic investment portfolios combined with a comprehensive approach to wealth management.
The principals of Banyan have more than three decades of experience successfully providing wealth management services using complex investment strategies. Through the use of equity, options and fixed income investments, Banyan provides each client with a customized asset and sector allocation that results in a tailored portfolio best suited to their specific investment goals. For more information, visit: .
About Weiss Capital Management
For over 25 years, Weiss Capital Management has focused on protecting and growing wealth by employing a distinct approach to managing money in both bull and bear market conditions. As a fee-only, SEC-Registered Investment Adviser, the Company's portfolio managers and investment advisory team have been committed to helping investors achieve their goals through prudent, customer-focused advice.
Located in Palm Beach Gardens, Fla., Weiss Capital Management offers the right blend of client dedication, financial expertise and investment products to help investors achieve their goals. For more information, visit: .
CONTACT: Denelle Swaim, Marketing Director, Banyan Partners 800-814-3045 or 561-515-8558, ext. 15430 or e-mail: DSwaim@BanyanPartners.net