CEO Tom Manning Speaks with WealthManagement.com

April 10, 2023

RIA Edge 100: F.L.Putnam Investment Management

CEO Tom Manning insisted on equity for F.L.Putnam employees before accepting the job and went on to grow the firm’s AUM by 200% in just seven years.

When CEO Tom Manning accepted the offer to run F.L.Putnam Investment Management in late 2015, he insisted that employees be given equity in the firm as a condition of his employment. At the time, F.L.Putnam was managing about $1.4 billion in client assets and primarily focused on investment management for institutions, foundations and endowments.

Since Manning took the helm, the century-old firm has grown assets to $4.2 billion, built out financial planning capabilities for wealthy individuals and families and acquired an alternative investment consulting business. Over the last four years, The Wellesley, MA-based firm has more than doubled its staff, expanding to 84 employees across offices in five states, and maintained a high ratio of credentialed, client-facing advisors—earning it a place on WealthManagement.com’s RIA Edge 100 list, released in February.

“It was a condition of my employment that equity of the firm would begin to be distributed to the people within the organization,” Manning said, noting that nearly half of the firm’s employees are currently equity owners and he expects that number to grow.

Read the full story here.

Disclosures

 

 

Checking in on the US Consumer

By Ellen Hazen, CFA®, Chief Market Strategist April Takeaways: Decent corporate earnings but muted...

Will Market Breadth Spread Beyond Large Cap Stocks?

By Ellen Hazen, CFA®, Chief Market Strategist March Takeaways: Jobs are still strong. The US...

Small Is Beautiful. Big Is Beautiful. Which Is It?

By Ellen Hazen, CFA®, Chief Market Strategist February Takeaways: Strong US labor market. January...