BOSTON - Boston Advisors Inc. said it has signed a definitive agreement to buy all the assets of Babson-United Investment Advisors Inc., a registered investment advisory firm owned by Advest Group Inc.
The post-merger firm would be headquartered in Boston, the companies said Monday. Its combined assets would total $3.5 billion, and it would have 20 investment advisers. The details of the transaction, which is expected to close in May, were not disclosed.
Boston Advisors manages $2.3 billion of assets for affluent people, corporations, endowments, and foundations. It is an independent investment management unit of Advest, which is part of the MONY Group Inc. in New York. Babson-United manages $1.2 billion of assets for individual and institutional clients and is based in Watertown, Mass.
