Boston Private Financial Holdings Inc. said Monday that it has acquired an additional 6% stake in the Menlo Park, Calif., asset management firm Bingham, Osborn & Scarborough LLC.
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Boston Private previously owned 64% of the 23-year-old asset manager.
In February 2004, Boston Private acquired an initial 20% stake in Bingham Osborn, which now manages roughly $2 billion of client assets. The fee-based wealth management firm specializes in investment strategies that include retirement planning, estate planning, and charitable giving.
Boston Private did not disclose how much it paid for the latest stake.
