F.L.Putnam Investment Management Company, based in Lynnfield, Massachusetts, has completed its acquisition of Seascape Capital Management, a Portsmouth, New Hampshire-based independent RIA. The transaction, which closed on June 30, adds more than $500 million in client assets, bringing F.L.Putnam's total assets under management to over $11 billion.
The deal expands F.L.Putnam's client base to more than 3,000 and increases its advisor headcount to over 50. It represents the firm's 11th acquisition and its second move in as many years to deepen its presence in New Hampshire's Seacoast region.
Seascape Capital Management, founded in 2003, specializes in wealth and investment management for high-net-worth individuals and families, including business owners, high-income executives, and retirees. The firm is led by CEO Monica McCarthy, along with Andrew Litzerman and Christian "Chrissy" Sullivan. The entire Seascape team has joined F.L.Putnam under the transaction. Financial terms were not disclosed.
The acquisition builds on F.L.Putnam's recent expansion into the Midwest, where it acquired Arcadia Investment Management in Michigan earlier this year. It also follows the firm's opening of a Portsmouth office in October, which added two senior advisors, Thomas Burleigh and Michael Hanlon, and was described at the time as its 12th East Coast location.
F.L.Putnam CEO Tom Manning said the Portsmouth office has quickly become a key growth market in the Northeast. "A core part of our long-term growth strategy has been to expand FLP's presence in the communities where our clients live and work," Manning said. The Portsmouth office provides a strategic link between the firm's Maine and Massachusetts operations while complementing its existing office in Wolfeboro, New Hampshire.
F.L.Putnam first entered New Hampshire in 2019 through the acquisition of Financial Focus, a roughly $275 million practice, which established its presence in Wolfeboro. In April 2024, the firm acquired Darwin Trust Co., a New Hampshire-chartered trust company, adding a location in Nashua. With the Seascape deal, F.L.Putnam now has 24 employees across its Wolfeboro and Portsmouth offices.
McCarthy framed the deal as a continuation of Seascape's client-first approach. "From our very first conversations with Tom and his team, it was clear we share the same client-first philosophy and long-term approach to helping families preserve and grow their wealth," she said. The acquisition expands the breadth and depth of services Seascape can offer while preserving the personalized approach clients have come to expect over the past 23 years.
The deal comes amid a wave of consolidation in the RIA space, as firms like Carson Group and Corient continue to expand through acquisitions. F.L.Putnam's strategy of deepening its regional footprint while maintaining a client-first focus appears to be paying dividends, as the firm now manages over $11 billion in assets.
