Walnut Asset Management
has completed its merger with Addison Capital Management
. The combined firm will operate as Walnut Asset Management from Walnut's existing location at One Penn Center. The combined firm, which has assets exceeding $800 million, will continue to provide wealth management services to high-net-worth individuals, endowments, foundations, retirement plans, public funds and insurance companies.
The merger lets Walnut expands the number of investment strategies it offers clients. New products include three funds (Large-Cap Value, Mid-Cap Value and Intermediate Fixed Income) and additional ETF products. The merger also puts Walnut in new distribution outlets including managed account platforms run by Schwab and FOLIOfn.
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