Boston Private Announces Integration of KLS Professional Advisors Group with Boston Private Wealth
September 23 2019 - 8:30AM
Business Wire
Combined firm becomes one of the largest
registered investment advisors in the US focused on serving
high-net-worth clients
Boston Private, a leading provider of fully integrated wealth
management, trust, and commercial and private banking services,
today announced the formal integration of KLS Professional Advisors
Group, LLC (KLS) with Boston Private Wealth LLC. The combined firm
becomes one of the largest registered investment advisors in the
United States as measured by client assets.
Founded in 1989 and headquartered in New York City, KLS is a
wealth management firm specializing in the complex financial needs
of law firms, attorneys and other high-net-worth segments. The
integration of KLS and Boston Private Wealth is part of a strategic
growth plan that leverages the competencies of each organization to
create a more powerful, efficient and effective financial services
firm.
“KLS is known for providing exceptional client value to
attorneys and other professional service partners due to its
technical excellence and commitment to client service,” said
Anthony DeChellis, CEO at Boston Private. “KLS’s expertise, coupled
with Boston Private’s resources, creates a more complete offering
for our clients, and provides a platform for growth in New York,
one of the most important wealth markets in the world.”
Gary Sica, Senior Managing Director of KLS, will continue to
lead the New York-based team in partnership with Bill Woodson,
Boston Private’s Head of Wealth Advisory and Family Office
Services.
“KLS and Boston Private share a mission of providing clients
with holistic advice guided by a deep understanding of our clients
and their needs, and not by products,” said Sica. “I look forward
to this next chapter in our firm’s growth and the opportunity it
presents for our clients.”
KLS has been an affiliate partner of Boston Private since 2004
when parent Boston Private Financial Holdings, Inc. (NASDAQ: BPFH)
purchased an 81 percent ownership stake, and later acquired the
remaining 19 percent in 2010.
The legal process of merging Boston Private Wealth and KLS was
completed on September 1, 2019. The New York-based team will
operate under the name “KLS, A Division of Boston Private.”
About Boston Private
Boston Private is a leading provider of fully integrated wealth
management, trust, and commercial and private banking services. For
more than 30 years, Boston Private has taken a highly personalized
approach to serving the complex financial needs of individuals,
families, business owners, private partnerships, nonprofits and
community partners. Boston Private is also an active provider of
financing for affordable housing, first-time homebuyers, economic
development, social services, community revitalization and small
businesses.
Headquartered in Boston, Boston Private has offices across the
United States, including in Boston, San Francisco, San Jose, Los
Angeles, Palm Beach and New York. Commercial and private banking
and trust services are provided through Boston Private Bank &
Trust Company, a Massachusetts chartered trust company. Wealth
management services are provided through Boston Private Wealth LLC,
an SEC registered investment adviser and a wholly-owned subsidiary
of Boston Private Bank & Trust Company.
Boston Private Bank & Trust Company is a subsidiary of
Boston Private Financial Holdings, Inc. (NASDAQ: BPFH). For more
information, visit www.bostonprivate.com.
Investments are Not FDIC Insured, Not Guaranteed and May Lose
Value.
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version on businesswire.com: https://www.businesswire.com/news/home/20190923005129/en/
MEDIA: Lucy Muscarella 617-912-4402
lmuscarella@bostonprivate.com
INVESTOR: Adam Bromley 617-912-4386
abromley@bostonprivate.com
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